Joseph just bought a brand new cell phone and a warranty for the cell phone. The warranty cost 300 euros and is worth 800 euros if his phone breaks. Joseph estimates that there is a 20% chance of his phone breaking.
Col
Joseph calculates the expected value of buying the warranty to be -140 euros.
Which of the following statements are true?
MY
Choose all answers that apply:
Pro
Pro
Joseph will certainly lose value from the warranty.
Tea
Joseph will certainly gain value from the warranty.
If Joseph was going to buy a large number of phones, and he bought the warranty on each phone,
he should expect to lose value from the warranties.

If Joseph was going to buy a large number of phones, and he bought the warranty on each phone,  he should expect to lose value from the warranties.

Step-by-step explanation:

Given - Joseph just bought a brand new cell phone and a warranty for the cell phone. The warranty cost 300 euros and  is worth 800 euros if his phone breaks. Joseph estimates that there is a 20% chance of his phone breaking.

Joseph calculates the expected value of buying the warranty to be -140.

To find - Which of the following statements are true?

Joseph will certainly lose value from the warranty.

Joseph will certainly gain value from the warranty.

If Joseph was going to buy a large number of phones, and he bought the warranty on each phone,  he should expect to lose value from the warranties.

Proof -

Given that , expected value = -140

⇒It means Joseph lose 140

(negative represents loss )

Now,

Given the expected values, it means we have given the probability so we can not be sure about loosing money

So,

The 1st and 2nd option is wrong because certain means sure because in the question we are not sure that Joseph phone will break or not.

Now,

The 3rd option says that if Joseph buy large amount of phone then he expect to lose value from from warranties .

This is the correct option because if we buy phones and warranty on phone then the expected value will divide on each phone.

So, the chance of impact on loss will decrease.

The correct option is - If Joseph was going to buy a large number of phones, and he bought the warranty on each phone,  he should expect to lose value from the warranties.

1

step-by-step explanation:

it's the only multiple of both and the least

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.

step-by-step explanation:

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.