Solve Applications Involving Expected Values

question 7

Multiple Choice

Solve applications involving expected values.
-A small business just leased a new computer and color laser printer for three years.
The service contract for the computer offers unlimited repairs for a fee of $100 a year
Plus a $25 service charge for each repair needed. The company's research indicates that
During a given year 86% of these computers need no repairs, 9% need to be repaired
Once, 4% twice, 1% three times, and none required more than three repairs. The standard
Deviation of the company's annual expense with the service contract for the computer is

• A) $105.
• B) $10.25.
• C) $187.42.
• D) $13.69.
• E) $2.75.

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Definitions:

Accessibility Of Social Services

The extent to which individuals can obtain and effectively use necessary social services, influenced by factors like location, cost, and eligibility criteria.

Secure New Rights

The process of establishing or obtaining recognition for new legal entitlements or privileges.

Conflict Between People

A situation where individuals or groups have opposing ideas, interests, or goals leading to disagreement or dispute.

Appeal Procedures

The systematic process through which a decision or judgment can be challenged or reviewed by a higher authority.