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Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $110, the probability...

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Accounting

Neighborhood Insurance sells fire insurance policies to local homeowners. The premium is $110, 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 $100,000. d. What are the expected value, variance and standard deviation of your profit?

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