GS Enterprises has the following loss distribution for its product liability expenses.If an insurer offered GS a
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Question:
GS Enterprises has the following loss distribution for its product liability expenses.If an insurer offered GS a policy with a $100,000 annual deductible, what is the expected claim cost on this policy?
Loss Probability
$4,000,0000 .001
$500,0000 .01
$30,000 .1
$0 .889
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