AIG recently started new travel insurance, which reimburses travelers for the cost of their trips if the trips are canceled for a variety of reasons. if a $10,000 policy costs $500 and there is a 3% chance your trip will be canceled.

a)Calculate the expected value of this policy to the insurance company's net income

b)Calculate the variance of this policy to the insurance company's net income

c)Calculate the standard deviation of this policy to the insurance company's net income

d) how much should the insurance company charge if the insurance company would like to make $300 profit per client on average.