An insurance company found that2.5%of male drivers between the ages of 18 and 25 are involved in serious accidents annually. To simplify theanalysis, assume that every such accident costs the insurance company$63,000 and that a driver can only have one of these accidents in a year.

(b) Suppose that the company writes1,000 such policies to a collection of drivers. What is the probability that the company makes a profit on thesepolicies? Assume that the driversdon't run into each other and behave independently.

P(profit)=enter your response here

(Round to five decimal places asneeded.)