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Oxnard Petro Ltd. is buying hurricane insurance for its off-coast oil drilling platform. During the next five years, the probability of total loss of only
Oxnard Petro Ltd. is buying hurricane insurance for its off-coast oil drilling platform. During the next five years, the probability of total loss of only the above-water superstructure ($280 million) is .35, the probability of total loss of the facility ($980 million) is .35, and the probability of no loss is .30.
Find the expected loss.(Input the amount as a positive value.)
Expected Loss $ ________ million
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