A cyber security risk study of data losses incurred by retail companies due to ransomware attacks, found that 40% of the firms in the industry had experienced security breaches and that the average loss per security breach was $50,000 What is the probability that a firm will not suffer a ransomware attack? A firm is contemplating spending money to decrease the likelihood of a ransomware attack. Assuming that the next year would be the same as this year in terms of attacks and that this firm is similar to other firms in the industry in terms of vulnerability to ransomware attacks, how much is the minimum that the firm should be willing to pay to eliminate security breaches (i.e., what is the expected value of their loss)