John has purchased the insurance policy from an insurance company to cover the value of his...

   

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John has purchased the insurance policy from an insurance company to cover the value of his house in case if it gets destroyed due to a fire for the price of $2000 per year. John's house is worth $230000 and the probability that fire destroys the house during the length of the policy is estimated to be 0.2%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X : X outcome the house is destroyed the house survived profit x,$ P(X = x) 2. Use the probability distribution table to find the following: a. E[X] =x = b. SD[X] = 0x = dollars. (Round the answer to 1 decimal place.) dollars. (Round the answer to 1 decimal place.) John has purchased the insurance policy from an insurance company to cover the value of his house in case if it gets destroyed due to a fire for the price of $2000 per year. John's house is worth $230000 and the probability that fire destroys the house during the length of the policy is estimated to be 0.2%. Let X be the insurance company's profit. Answer the following questions: 1. Create the probability distribution table for X : X outcome the house is destroyed the house survived profit x,$ P(X = x) 2. Use the probability distribution table to find the following: a. E[X] =x = b. SD[X] = 0x = dollars. (Round the answer to 1 decimal place.) dollars. (Round the answer to 1 decimal place.)