29. The Good-neighbours' Apartment has eight washing machines. The probability of machines failing in any given Year
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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?
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