​Scatterbrain Samantha Often Forgets to Lock Her House

question 44

Multiple Choice

​Scatterbrain Samantha often forgets to lock her house.This has caused the probability of a burglary to be 30%.If her house gets broken into,she faces a property loss of $10,000,otherwise she gets to keep her $100,000.If Samantha is offered an insurance policy for her house to protect her from loss at $3,000,what is her expected wealth?

• A)​$80,000
• B)$87,000
• C)$97,000
• D)​$99,000

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Definitions:

Long-Term Investing

The practice of holding assets for an extended period to build wealth over time, typically involving stocks, bonds, or real estate.

Assistive Technologies

Devices or software designed to help people with disabilities perform tasks that might otherwise be difficult or impossible.

Cultural Adaptation

The process by which individuals or groups adjust to a new cultural environment, adopting new norms and behaviors to fit in.

Degrees of Freedom

In statistics, it refers to the number of independent values or quantities which can be assigned to a statistical distribution.