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Sagot :
Answer: $30
Explanation:
If the CD-player is stolen, Leia would get a replacement from the insurance so her return for the year would be:
= Amount received from insurance - Amount paid in premiums
= 300- 30
= $270
If the CD player is not stolen, she will pay the premium of $30 so her return for the year would be: -$30
Expected return per year = (Probability of CD stolen * Return if stolen) + ( Probability of CD not being stolen * Return if not stolen)
= (0.2 * 270) + (0.8 * -30)
= $30
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