If the famous insurance company, Lloyd's of London, insures a $3 million Monet painting for $5000 per year. And, in each year, 10. the painting has a .00021 chance of being stolen according to the Lloyd's research team? From Lloyd's perspective, find the expectation for insuring this painting for one year.

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If the famous insurance company, Lloyd's of London, insures
a $3 million Monet painting for $5000 per year. And, in each year,
the painting has a .00021 chance of being stolen according to the
Lloyd's research team? From Lloyd's perspective, find the
10.
expectation for insuring this painting for one year.
Transcribed Image Text:If the famous insurance company, Lloyd's of London, insures a $3 million Monet painting for $5000 per year. And, in each year, the painting has a .00021 chance of being stolen according to the Lloyd's research team? From Lloyd's perspective, find the 10. expectation for insuring this painting for one year.
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