Question #11650029

Help with Expected Values?

The factory period on your DVD player is about to run out and youre debating about whether or not 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 DVD player like yours break down and require repairs that cost $140 on average. Should you buy the maintenance contract? Why or why not? Please explain the steps you took Thank you!

2013-11-07 18:42:29

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