Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary to be 30%. If her house gets broken into, she faces a property loss of $10,000, otherwise she gets to keep her $100,000. If Samantha is offered an insurance policy for her house to protect her from loss at $2,000, would she buy the insurance?
a. Yes because she gets to now enjoy her wealth risk-free
b. No, because she can take the risk and be better off
c. Yes, because she is a risk lover
d. None of the above
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Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary...
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