APFIVE Expected Value of a Discrete Random Variable
A company manufactures batteries with lifetimes (in years) that follow a discrete random variable Y with the following distribution: P(Y = 3) = 0.25, P(Y = 4) = 0.45, P(Y = 5) = 0.30. If the company offers a warranty to replace any battery that fails before its expected lifetime, what is the warranty period?
A
3.05 years
B
4.5 years
C
4.05 years
D
4 years
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