Question: Suppose your house is worth $1,000,000 and you have basic fire insurance that costs $50 per year. The insurance has a maximum coverage of $200,000.
Suppose your house is worth $1,000,000 and you have basic fire insurance that costs $50 per year. The insurance has a maximum coverage of $200,000. There is a 0.1% chance every year that your house will burn down and lose all its value. What is the expected value of keeping the basic insurance (instead of buying more insurance)?




A B C D 2 1 2 2 3 2 3 3 3 1 Which of the diagrams shown here best represents the following argument: "All accountants are licensed by the province. And Anita is an accountant. So Anita is licensed by the province." Diagram A Diagram B Diagram C O Diagram DAEJEBEECEEDE Which of the diagrams shown here best represents the following argument: "Accountants are generally smart. And accountants are generally diligent. So we can trust Anita to do a good job." O Diagram D O Diagram C O Diagram B (9 Diagram A Which of the diagrams shown here best represents the following argument: "Ali is an accountant. 80 Ali is licensed by the province. So you can trust him." 0 Diagram D 0 Diagram A 0 Diagram B 0 Diagram C D m SEQ mm Which of the diagrams shown here best represents the following argument: "Because your taxes are complex, you should hire an accountant. Besides, you don't have time to do your taxes yourself." 0 Diagram B 0 Diagram C 0 Diagram A 0 Diagram D
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