Mathematics, 13.12.2020 19:50 supermimi8078

Suppose the warranty period on your family’s new television is about to expire and you are debating about whether to buy a one-year maintenance contract for $35. If you buy the contract, all repairs for one year are free. Consumer information shows that 12% of the televisions like yours require an annual repair that costs $140 on the average. What is the expected value of buying the maintenance contract?

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