7. A travel insurance policy for luggage costs $ 60 for each piece, and will pay policyholders $ 5000 for each lost luggage, or $ 500 for each damaged luggage. the insurance company estimates that each year, about 1 in 1000 luggage is lost, and about 1 in 100 luggage gets damaged. What is the insurance company's expected prot? (a) 20 (b) 30 (c) 50 (d) 40 (e) None of the above 8. Suppose a SAMtype missile can intercept an incoming enemy plane or missile with a probability 0.75. The commander of an air force base wants to install missile batteries each containing 71 SAMtype missiles. The idea is to re all the n missiles in a single volley(when an incoming enemy plane/missile is detected by the radars) so that at least one (out of n) SAMtype missile can intercept the target with approximate probability 0.999. What should be the value of 7;? (round your answer to the next integer) (a) 10 (b) 15 (c) 5 (d) 8 (e) 20 11. A jury trial ended in a hung jury with 8 jurors voting guilty and 4 jurors voting for acquittal. Suppose that the 12 jurors exit the courtroom in random order. How many of the rst four jurors to leave the courtroom would be expected to have voted for acquittal? In other words, what is the expected value of X, when X denotes the number of jurors out of the rst four jurors to leave the courtroom who voted for acquittal? (a) 5/3 (b) 4/3 (C) 3/5 (d) 7/3 (e) none of the above