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Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $250, the probability of a fire is 0.1%, and in the event of

Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $250, the probability of a fire is 0.1%, and in the event of a fire, the insured damages (the payout on the policy) will be $240,000.

Scenario Probability Payout (Profit)
Neither has a fire 0.998001 500
Only one has a fire 0.001998 -239500
Both have fires 0.000001 -479,500

d. What are the expected value, variance, and standard deviation of your profit? (Do not round intermediate calculations. Round your standard deviation to the nearest whole number.)

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