Solved: What is the expected value of the extended warranty, Basic Statistics

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What is the expected value of the extended warranty

Microwave which cost 800.00, has a 20% chance of needing to be replaced in the first 2 years of purchase. A two-year extended warranty cost $112.10 on a microwave. What is the expected value of the extended warranty assuming it is replaced in first 2 years.

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Basic Statistics: What is the expected value of the extended warranty

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