Alex is trying to decide whether or not to purchase an extended warranty for his new laptop computer after reading an article that said that 1 in 3 laptops fail over the first 3 years. The extended warranty is for 3 years, costs $395, and covers all costs to repair or replace the laptop. He does some research and puts his findings in a table. Probability Expected Cost to Repair or Event Replace Crashed hard drive 2% $250 Broken screen 10% $200 Clean due to spilled liquid 20% $180 Battery no longer charges 65% $200 Fan stops working 3% $150 Memory dies 1% $120 Keyboard stops working 2% $150 Virus removal 40% $60 Accident leading to total 11% $2000 failure Malfunction leading to total 20% failure $2000 A) Use the table to determine the expected value of having to replace or repair the computer in the first 3 years. Expected Value = B) Is it a wise decision for Alex to purchase the extended warranty? Decision =