Question 3. A construction company whose workers are used on high risk projects insures its workers against death or injury on the job. One unit of insurance for an employee pays $1000 for an injury and $10,000 for death. Studies have shown that in a year 6.9% of workers suffer an injury and 0.59% are killed. Suppose the company purchases an insurance policy for an employee consisting of 5 units of insurance. 1. What is the expected claim cost per policy? 2. What is the standard deviation of claim cost? Question 3. A construction company whose workers are used on high risk projects insures its workers against death or injury on the job. One unit of insurance for an employee pays $1000 for an injury and $10,000 for death. Studies have shown that in a year 6.9% of workers suffer an injury and 0.59% are killed. Suppose the company purchases an insurance policy for an employee consisting of 5 units of insurance. 1. What is the expected claim cost per policy? 2. What is the standard deviation of claim cost