I'm confused on how do solve can someone show me steps please

7C PHW - Expected Value Name: Due:_ 1. An insurance policy sells for $600. Based on past data, an average of 1 in 50 policy holders will file a $5,000 claim, an average of 1 in 100 policyholders will file a $10,000 claim, 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. out igran (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: HTHT or HHHH. Justify your answer. 3. a. If you flip a coin 10 times and the coin lands on tails 3 out of 10 times, should you expect the coin is unfair? Explain. b. 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