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Homework answers / question archive / Petro Limited is buying hurricane insurance for its off-coast oil drilling platform

drilling platform. During the next 5 years, the probability of total loss of only the above water structure ($330 million) is .35, the probability of total loss of the facility ($830 million) is .35, and the probability of no loss is .30.

Find the expected loss (input the amount as positive value)

Expected Loss $ Million dollars