you take out a food insurance policy on your home. The annual premium is $ 632. In case of a flood, the insurance company will pay you $300000. The percent chance of a flood in your area is 0.02% Find: 1. What is the insurance company's expected value? [Round to two decimal places if needed]. 2. What is the expected profit if the company sells 1029 policies? [Round to nearest whole number). Answer: 1. The insurance company's expected value is $ 5368 2. The expected profit if the company sells 1029 policies is $