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A company offers a renters insurance policy that costs a customer $60 per year, and the company will make a payout of $10,000 to the customer if they are victim to theft in that year. The company set this price based on the probability of a theft in the area being 0.001. The table below displays the probability distribution of x = the company's profit from one of these policies.
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A company offers a renters insurance policy that costs a customer $60 per year, and the company will...
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