Post Utme Mountain Top University 2022 Commerce Question 7
Practice objective / multiple choice question 7 from the 2022 Post Utme Mountain Top University Commerce examination.
A consumer protection agency has received a complaint from a customer who was sold a defective product. The product was purchased for ₦20,000 and the customer is seeking a refund. If the product is deemed to be defective, the consumer protection agency will order the manufacturer to refund the full amount. However, if the product is deemed to be not defective, the customer will be required to pay a fee of ₦5,000 for the cost of testing. What is the expected value of the outcome for the customer?
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About This Question
This is Post Utme Mountain Top University 2022 Commerce Question 7. It is one of the objective questions from the 2022 Post Utme Mountain Top University Commerce examination.
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