This is not your average Expected Value problem.
A store that sells and repairs televisions sells maintenance agreements for $13 a year.
The average cost for repairing a television is $55.
7 in every 100 people who purchase maintenance agreements have televisions that need repair.
Find the expected profit per maintenance agreement.
The store receives $13 for every agreement.
It costs the store $55 for 7% of the agreements.
The expected profit is: