A customer buys a $463.38 entertainment device from a department store. The department store sells 2-year warranties for the purchase for $38 and, based on past recor estimates that there a 5.6% chance that the warranty will be used to replace a broken device. Calculate the expected value of the store's profit on each one of these warrant sold. Use two decimal place accuracy.

A customer buys a $463.38 entertainment device from a department store. The department store sells 2-year warranties for the purchase for $38 and, based on past recor estimates that there a 5.6% chance that the warranty will be used to replace a broken device. Calculate the expected value of the store's profit on each one of these warrant sold. Use two decimal place accuracy.

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter9: Solving Quadratic Functions

Section: Chapter Questions

Problem 4CA

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