Question: 8. For the car-rental situation described in Problem 2, assume that you researched insurance industry statistics and found out that the probability of a major

8. For the car-rental situation described in Problem 2, assume that you researched insurance industry statistics and found out that the probability of a major accident is 0.05% and that the probability of a fender bender is 0.16%. What is the expected value decision? Would you choose this? Why or why not?

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