Neco 2019 Data Processing Question 3
Practice objective / multiple choice question 3 from the 2019 Neco Data Processing examination.
A company faces an annual expected loss of \(1{,}500{,}000\) Naira if a data breach occurs. The current probability of a breach is \(0.08\). Two security measures are available:\n- Firewall: cost \(200{,}000\) Naira, reduces breach probability to \(0.03\).\n- Employee training: cost \(120{,}000\) Naira, reduces breach probability to \(0.05\).\nCompany policy requires implementing at least one of the measures, and the total security budget cannot exceed \(300{,}000\) Naira. For each feasible option, compute the total expected annual cost (security cost plus expected loss). Which option gives the minimum total expected cost, and what is that cost?
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About This Question
This is Neco 2019 Data Processing Question 3. It is one of the objective questions from the 2019 Neco Data Processing examination.
Difficulty level: Hard .
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