3. A service that repairs air conditioners sells maintenance agreements for $80 a year. The average cost for repairing an air conditioner is $350. If 1% of all people who purchase these maintenance agreements have air conditioners that require repair, then what is the service's expected profit per maintenance agreement? 4. Look back at problem #3. Suppose the service is able to sell 2000 such policies over the year. What is their total expected profit on these 2000 policies? Your answer must be based on your response to problem #3 in order to receive full credit