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Find out the probability of total loss of the facility

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Reference no: EM132853549

Oxnard Petro Ltd. is buying hurricane insurance for its off-coast oil drilling platform. During the next five years, the probability of total loss of only the above-water superstructure ($320 million) is .30, the probability of total loss of the facility ($820 million) is .30, and the probability of no loss is .40.

Reference no: EM132853549

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