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rafiki121 rafiki121
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11 months ago
Bret purchased a new smartphone for $1,100 and is considering the two-year accident protection for $180. Based on an industry blog, accidental damage with these laptops have an 80% chance of needing a glass replacement ($150) and 20% chance of internal damage, which would be a complete loss based on the value of a new replacement. Based on his community of friends, only 1 out of 15 had an accident with their phones within two years of purchase. Should he purchase the two-year protection?

▸ Yes, the expected loss is $340.

▸ Yes, the expected loss is $220.

▸ No, the expected loss is $27.

▸ No, the expected loss is $176.
Textbook 
Personal Finance

Personal Finance


Edition: 2nd
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bluepeachez36bluepeachez36
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11 months ago
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rafiki121 Author
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11 months ago
Good timing, thanks!
vernonb
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Yesterday
Just got PERFECT on my quiz
gmiannotti
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2 hours ago
Brilliant ツ
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