Daniel-James Insurance Company will insure an offshore Mobil Oil production platform against weather losses for one year. The president of Daniel-James estimates the following losses for that platform (in millions of dollars) with the accompanying probabilities:

Amount of Loss ($ millions)	Probability of Loss
0	.98
40	.016
300	.004

(a)	What is the expected amount Daniel-James will have to pay to Mobil in claims?(Enter your answer in millions to 2 decimal places. Omit the "$" sign in your response.)

Expected amount

$million

(b)	What is the likelihood that Daniel-James will actually lose less than the expected amount?(Round your answer to 2 decimal places.)

Probability

(c)	Given that Daniel-James suffers a loss, what is the likelihood that it is for $300 million?(Round your answer to 2 decimal places.)

Probability