29. The Good-neighbours' Apartment has eight washing machines. The probability of machines failing in any given Year is as follows:

Once a machine has failed, its repair will cost either Rs 30, the minimum service charge; Rs 70 for a moderate repair, or Rs 120 for a major repair. The chance for a major repair is 36 per cent while for a moderate repair the chance is 44 per cent for any washer.
Keepfit offers a prepaid one-Year maintenance policy that costs Rs 45 per machine. Should the owner of the apartment buy the maintenance insurance?

Transcribed Image Text:

No. of machines failing : 3 4 5 6 Probability 0.15 0.30 0.50 0.05