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An insurance policy sells for ​$1200. Based on past​ data, an average of 1 in 50 policyholders will file a ​$20,000 ​claim, an average of 1 in 250 policyholders will file a
​$30,000 ​claim, and an average of 1 in 500 policyholders will file aa ​$70,000 claim. Find the expected value​ (to the​ company) per policy sold. If the company sells 20,000 ​policies, what is the expected profit or​ loss?



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