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Based on historical data, an insurance company estimates that a particular customer has a 1.6% likelihood of having an accident in the next year, with

Based on historical data, an insurance company estimates that a particular customer has a 1.6% likelihood of having an accident in the next year, with the average insurance payout being $1700. If the company charges this customer an annual premium of $70, what is the company's expected value of this insurance policy? Question Help: Message instructor Submit

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