Directions: Solve the following. Show your solutions. 1. An insurance company insures a client's product worth P 200,000 for an insurance policy worth P 10,000. The probability of the product getting stolen is determined to be 0.05. What is the company's expected profit? 2. The probability of time for a farmer to harvest the crops was illustrated below. Calculate the mean, variance, and standard deviation. Time (X) P(X) 2 6