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Expected value of owning a defibrillator

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Suppose it costs $2,500 to buy a defibrillator. Find the expected value of owning a defibrillator if there is a 4% probability that "Silver's Gym" will lose a lawsuit regarding its operation, with each lawsuit resulting in "Silver's Gym" being liable in the amount of $1,000,000. Please, interpret the result.

Reference no: EM1387242

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