SOLUTION: As a birthday gift, you are mailing a new personal digital assistant (PDA) to your cousin in Toledo. The PDA cost $250. There is a 2 percent chance it will be lost or dama

Question 306977: As a birthday gift, you are mailing a new personal digital assistant (PDA) to your cousin in Toledo.
The PDA cost $250. There is a 2 percent chance it will be lost or damaged in the mail. Is it worth
$4 to insure the mailing? Explain, using the concept of expected value.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

Insure it.

John

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