A company estimates that 0.6% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $500.
If they offer a 2 year extended warranty for $63, what is the company's expected value of each warranty sold?

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robbins200828 robbins200828

15-06-2024
Mathematics

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A company estimates that 0.6% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $500.
If they offer a 2 year extended warranty for $63, what is the company's expected value of each warranty sold?

Sagot :

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