Question: Select one answer. 10 points The probability distribution gives the potential cost of routine maintenance and major repairs in the first 5 years you own

Select one answer.

10 points

The probability distribution gives the potential cost of routine maintenance and major repairs in the first 5 years you own a new car.

What is the expected cost of routine maintenance and major repairs for the 1st 5 years you own the car? (Recall: the expected value is the mean.)

  1. $101
  2. $505
  3. $1000

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