Business, 22.04.2020 03:06 Jasten

Mark owns a stamp collection that he is considering getting insured. Over the course of a year it will cost him $500 to keep his collection insured, but if he his collection is damaged they will pay him $1000. If he estimates there’s a 10% chance of his collection being damaged, what is the expected value of buying the insurance policy?: *

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Mark owns a stamp collection that he is considering getting insured. Over the course of a year it wi...

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