Question: Please show all work! Thank you! :) Problem 5 ( 8 points): The frequency of breakdown of a machine that issues lottery tickets is given

Please show all work! Thank you! :) Problem 5 ( 8

Please show all work! Thank you! :)

Problem 5 ( 8 points): The frequency of breakdown of a machine that issues lottery tickets is given in the following table. Repairs cost an average of $240. A service firm is willing to provide preventive maintenance for a $500 fee and covers all necessary repairs. a: What is the expected cost for the two options? b:Which option would have the lowest expected cost: pay for all repairs, or the service option? 1. Pay for all repairs 2. Service option

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