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Find the expected value of buying the extended warranty. The expected value of buying the extended warranty is . A new flat - screen TV
Find the expected value of buying the extended warranty.
The expected value of buying the extended warranty isA new flatscreen TV comes with ayear warranty wh ich completely covers any parts and repairs. At the end of the warranty period, the buyer is offered an extended warranty formore years at a cost of $Industry records indicate that during thatyear period, there\'s achance that a minor repair averaging $will be needed, and achance that a major repair averaging $ will be needed.
Find the expected value of buying the extended warranty.
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