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An insurance policy sells for $730. Based on past data, an average of 1 in 60 policyholders will file a $10,000 claim, an average of

An insurance policy sells for $730. Based on past data, an average of 1 in 60 policyholders will file a $10,000 claim, an average of 1 in 120 policyholders will file a $20,000 claim, and an average of 1 in 300 policyholders will file a $50,000 claim. What is the expected value to the company per policy sold? How to solve?

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