Answer:
The expected value for the person buying the insurance is of -$48.
Step-by-step explanation:
Expected value:
0.169% = 0.00169 probability of earning the death benefit of $100,000, subtracting 217, 100000 - 217 = $99,783.
100 - 0.169 = 99.831% = 0.99831 probability of losing $217.
What is the expected value for the person buying the insurance?
The expected value for the person buying the insurance is of -$48.
Answer:
Exp Date: 1/17/2017
Exp Time: 4:00am
Prep Date: 12/3/2016
Prep Time: 4:00am
Initials: 12/7/2016
Step-by-step explanation:
A well-detailed version of the question has been uploaded in form of an image for easier understand.
Looking at the question, it was said that she received her store order on 12/3/2016 at 4am, this implies that the prep date and time are 12/3/2016 and 4am respectively. Also, it was said that the expiration date was printed on the product and it is 1/17/2017. Obviously, the expiration time would also be 4am because it was prepared at 4am and if we calculate in. 24hours we would get 4am at the expiration date as well. Lastly, we were told she opened the product she received on 12/7/2016 which is the initial date the product was used. From all these we can deduce the following:
Exp Date: 1/17/2017
Exp Time: 4:00am
Prep Date: 12/3/2016
Prep Time: 4:00am
Initials: 12/7/2016
