An LG Dishwasher, which costs $900, has a 20% chance of needing to be replaced in the fir years of purchase. A two-year extended warrantee costs $112.10 on a dishwasher. Assume dishwasher is replaced in the first 2 years. a) Write out the probability distribution for the value of the extended warranty. Make sure you enter your X values from smallest to largest. P(X) 698.22 x 787.9 v 160 x b) What is the expected value of the extended warranty?
An LG Dishwasher, which costs $900, has a 20% chance of needing to be replaced in the fir years of purchase. A two-year extended warrantee costs $112.10 on a dishwasher. Assume dishwasher is replaced in the first 2 years. a) Write out the probability distribution for the value of the extended warranty. Make sure you enter your X values from smallest to largest. P(X) 698.22 x 787.9 v 160 x b) What is the expected value of the extended warranty?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 50E: Medicine Out of a group of 9 patients treated with a new drug, 4 suffered a relapse. Find the...
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Transcribed Image Text:An LG Dishwasher, which costs $900, has a 20% chance of needing to be replaced in the fir
years of purchase. A two-year extended warrantee costs $112.10 on a dishwasher. Assume
dishwasher is replaced in the first 2 years.
a) Write out the probability distribution for the value of the extended warranty.
Make sure you enter your X values from smallest to largest.
P(X)
698.22 x
787.9 v
160 x
b) What is the expected value of the extended warranty?
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