(a) Explain how the amount of a provision should be measured.

(b) A company needs to make a provision for the cost of repairing a faulty product supplied to a customer some weeks previously. The company estimates that there is a 60% chance that this repair will cost £100,000. However, there is a 30% chance that the cost will be £150,000 and a 10% chance that the cost will be £200,000. How should the amount of the provision be measured?