Retur Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $330, 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 $320,000. a. Make a table of the two possible payouts on each policy with the probability of each Answer is complete and correct. Outcome Outcome Payout No Fire $ 330 Firel $ (319,670) b. Suppose you own the entire firm, and the company issues only one policy. What are the expected value, variance and standard deviation of your profit? 3 Answer is not complete. Variance Standard Expected Return $ 10 Deviation 102278719