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What is the average cost per player

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An audio player uses a low quality hard drive. the initial cost of building the player is $50. the hard drive fails after each month of use with probability 1/12. the cost to repair the hard drive is $20. If a 1 year warranty is offered, how much should the manufacturer charge so that the probability of loosing money on a player is 1% or less? What is the average cost per player?

Reference no: EM132501703

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