Answer:
The expected value of each warranty sold is $23.8.
Step-by-step explanation:
0.8% probability of the product failling.
If the product fails, the company will lose 400 - 27 = $373. So a net value of -373.
100 - 0.8 = 99.2% probability of the product not failling.
If the product does not fail, the company gains $27.
What is the company's expected value of each warranty sold?
We multiply each outcome by its probability.
0.008*(-373) + 0.992*27 = 23.8
The expected value of each warranty sold is $23.8.
Answer:
234
Step-by-step explanation:
i honestly don't know but i just added them all up together
Answer:
The value of P(A and B) is 1/10
Step-by-step explanation:
In case of independent events, the probability of one event doesn't depend on the probability of other events.
Therefore, for an independent events
P(A and B) = P(A) × P(B)
P(A and B) = 2/5 × 1/4
P(A and B) =2/20
P(A and B) =1/10
Therefore, the value of P(A and B) is 1/10
