Solved: What is the expected value of liability losses, Accounting Basics

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What is the expected value of liability losses

Problem:

Assume that Buckeye Brewery determines that its liability losses have the following distribution: $5,000,000 with probability 0.004

$1,500,000 with probability 0.025
Loss = $ 500,000 with probability 0.030
$ 0 with probability 0.941

What is the expected value of liability losses?

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Accounting Basics: What is the expected value of liability losses

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Accounting Basics: What is the expected value of liability losses

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