A man won ​$5 million by scoring 16 goals in 23 seconds in acontest at a sports game that was sponsored by a business. Did thebusiness risk the ​$ ​million? No! The business purchased eventinsurance from a company specializing in promotions at sportingevents. The event insurance company estimates the probability of acontestant winning the contest​ and, for a modest​ charge, insuresthe event. The promoters pay the insurance premium but take on noadded risk as the insurance company will make the large payout inthe unlikely event that a contestant wins. To see how it​ works,suppose that the insurance company estimates that the probability acontestant would win the contest is 0.0009 and that the insurancecompany charges ​$9,500
a. Calculate the expected value of the profit made by theinsurance company.
