Decision of Uncertainty

Decision of Uncertainty
September 26, 2011

Decision of Uncertainty
A consumer takes into consideration his financial information before making a changes. In the case of a smart phone versus a regular cell phone rates and insurance rates increase. The consumer must look at every aspect of the investment. The rates are different from the smart phones from the regular phones. The rates go up, the insurance goes up, and Internet may be needed. The consumer will look at the warranty issue in this dilemma.
Decision: To buy or not to buy insurance for a smart phone.
The decision is to replace an existing phone and accept the warranty. Does the consumer purchase the warranty? The consumer is allowed 30 days to decide if he want to purchase the warranty. Verizon charges the customer monthly for this service. If the phone is lost, stolen, or has customer use damage such as water damage the warranty will cover this. The   warranty requires a deductible to be paid. This warranty is covered for the two years that the phone is under contract. The customer will need to make a claim with Assurian. Assurian will validate the claim and will send the customer a new phone through the shipping company. This process takes 24 – 36 business hours.
The decision is whether or not to accept this insurance. The additional cost will affect the family slightly but is it worth it. If warranty is purchased this claim requires a deductible to be paid.
Making the decision to purchase the additional insurance one must take research the time that the phone is under contract. The cost of the insurance and the cost of the deductible will increase. A consumer must consider if this warranty is worth paying additional fees. What the likely hood is that the insurance is used. The individual should look at the cost of a smart phone versus a regular cell phone. Prices could be different from phone to phone.
Interpretation of Data
To come up with the data to decide whether...