Mathematics, 28.07.2019 09:10 AK4700
Jared is looking to buy some car insurance and is reviewing different policies from several different agencies. the first policy he sees cost $600 dollars for the upcoming year, and is worth 1400 dollars if he gets into a collision. after doing some research, he estimates that he has a 5% chance of getting in a car accident this year. what is the expected value of buying this car policy?
Answers: 1
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