Suppose you are considering buying an insurance policy for your car that will replace it in...
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Suppose you are considering buying an insurance policy for your car that will replace it in case of a crash. The policy costs $300 and has a $1500 deductible. What is the expected value of buying the policy? -$1800 There is not enough information to tell -$300 -$1500 Suppose you are considering buying an insurance policy for your car that will replace it in case of a crash. The policy costs $300 and has a $1500 deductible. What is the expected value of buying the policy? -$1800 There is not enough information to tell -$300 -$1500
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A deductible is an amount of money that you yourself are responsible for paying toward an insured l... View the full answer
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