If the company wants to offer a 2 year extended warranty, what price should they charge so that they'll break even (in other words, so the expected value will be 0)?
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- If a game gives payoffs of $10 and $100 with probabilities 0.9 and 0.1, respectively, then the expected value of this game is E=0.9+0.1= .A company estimates that 0.9% of their products will fail within two years after the original warranty ends, with a replacement cost of $50.If they offer a 2 year extended warranty for $7, what is the company's expected value of each warranty sold?A company estimates that 0.7% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $450. If they offer a 2 year extended warranty for $44, what is the company's expected value of each warranty sold?
- A company estimates that 0.7% of their products will fail after the original warrantyperiod but within 2 years of the purchase, with a replacement cost of $350. If they offer a2-year extended warranty for $48, what is the company's expected value of each warrantysold?A company estimates that 0.3% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $100.00.If they offer a 2 year extended warranty for $5.00, what is the company's expected value of each warranty sold? The expected value of each warranty sold is?