Write math problem Speech or Presentation Example | Topics and Well Written Essays - 500 words - 1

Write math problem - Speech or Presentation Example Thus, the expected loss will be: b. Under a no liability rule, the company will not take responsibility for any damages caused by its products; in case of any damages, the consumers cater for the loss. Therefore, considering the two options of recalling and not recalling tires, we consider the expected loss and total costs involved in both. c. Assuming perfect information, consumers who have Ford products should consider replacing the firestone tires with other tires so as to avoid incurring losses in case of damages. It only costs $800 to replace all the four tires but waiting for accidents before one can replace the tires will cost more. B. As a Brinks’ Attorney, my objection would be that the damage calculation method considered only a few months; it did not cut across the entire period Brinks had the contract. Thus, when we consider the entire period, the profit/loss damage calculation will be as follows: B. Standard deviation is the most reliable statistic that can be used in a legal setting since it describes how far a certain value is from the mean. For instance, the mean in the above summary is 74818.90 and the standard deviation for the same data is 1677.93. Thus, this standard deviation is quite small and it can be interpreted as follow: This data has a relatively small standard deviation which implies that the total population per member for all the districts is closer to the mean (well distributed across all the