Linoel wants to buy a belt that costs $22.00. He also wants to buy some shirts that are on sale for $17.00 each. He has $80.00.
1 answer:
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Answer:
The expected loss is $275 million.
Step-by-step explanation:
Expected loss can be determined as the sum of the product of each possible loss by the its probability of occurence. In this situation, there are only two possible losses listed since the probability of no loss doesn't add any value to the expected loss and should be disregarded.
Expected loss (in millions) = EL
The expected loss is $275 million.