1. An insurance policy sells for $500. Based on past data, an average of 1 in 50 policyholders will file a $5000 claim, an average of 1 in 100 policyholders will file a $10000 clam, and an average of 1 in 200 policyholders will file a $30,000 claim. A) Find the expected value (to the company) per policy sold. B) If the company sells 10,000 policies, what is the expected profit or loss? 2. When flipping a fair coin 4 times in a row, which outcome is more likely?3A. If you flip a coin 10 times and the coln lands on tails 3 out of 10 times, should you expect the coin is unfair? Explain. 3B. If you flip a coin 10,000 times and the coin lands on heads 3,000 out of 10,000 times, should you expect the coin is unfair? Explain.