Neco 2023 Civic Education Question 30

A university monitors three independent risk factors for cult activity each month: secret meetings (probability 0.12), recruitment of new members (probability 0.08) and possession of prohibited symbols (probability 0.05).\n\nPolicy A: the administration intervenes only when at least two risk factors are present in a month. The cost of an intervention is ₦500,000.\n\nPolicy B: the administration intervenes whenever at least one risk factor is present.\n\nIf the expected loss from cult activity in a month when no intervention occurs equals ₦1,200,000 multiplied by the probability that at least one risk factor is present, which policy yields the lower expected monthly cost? Compute the expected monthly cost under each policy and state the cheaper option.