[Solved] An insurance company estimates that the probability a contestant would win million dollar shootout is.001 and that the insurance company charges
Question: An insurance company estimates that the probability a contestant would win million dollar shootout is.001 and that the insurance company charges 4000
- Calculate the expected value of the profit made by the insurance company
- Many call this a win-win for the promoter paying 4000 and the insurance company...why
Deliverable: Word Document 
Solution: Since 1967 through 2008 the indicator has been correct
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