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A printing company is considering buying a new printing press. It has quotes from two different companies. Company A offers a press for $9,500 plus
A printing company is considering buying a new printing press. It has quotes from two different companies. Company A offers a press for $9,500 plus $75 per month for a repair contract that covers unlimited repairs. Company B offers a press for $10,500 and charges $150 per repair. The table gives the probabilities of the numbers of repairs to the printing press offered by company B. Number of Repairs 0 1 2 3 Probability 0.32 0.29 0.25 0.14
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