Scenario 17.4 Consider the Following Information

question 53

Multiple Choice

Scenario 17.4
Consider the following information:
StowUrStuff Storage is located slightly below sea level in a coastal town. It could build and maintain a flood control system around its property at an annual cost of $1000, and if it did so, the probability of a flood's doing $1,000,000 in damage during the year would be .005. With no flood control system, the probability of such a flood would be .01.
-Refer to Scenario 17.4. If there is no flood insurance and the flood control system is in place, the expected loss from a flood is:

• A) $5,000.
• B) $10,000.
• C) $100,000.
• D) $200,000.
• E) $1,000,000.

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