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ProbabilityQ&A LibraryA company estimates that 0.1% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $300. If they offer a 2 year extended warranty for $21, what is the company's expected value of each warranty sold? $ helpStart your trial now! First week only $4.99!*arrow_forward*

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A company estimates that 0.1% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $300.

If they offer a 2 year extended warranty for $21, what is the company's expected value of each warranty sold?

$

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