Kio Outfitters estimated the following losses and probabilities from past experience:

Kio Outfitters estimated the following losses and probabilities from past experience: What is the probability Kio will experience a loss of $5,000 or greater? If an insurance company offers a loss policy with a $1,500 deductible, what is the most Kio will pay?

\begin{tabular}{|r|r|} \hline Loss (\$) & Probability (\%) \\ \hline 30,000 & 0.25 \\ \hline 15,000 & 0.75 \\ \hline 10,000 & 1.50 \\ \hline 5,000 & 2.50 \\ \hline 1,000 & 5.00 \\ \hline 250 & 15.00 \\ \hline 0 & 75.00 \\ \hline \end{tabular}