Insurance for an appliance costs $30 and will pay $330 if the insured item breaks within 2 years. The insurance company estimates that 3% of the insured items will break within 2 years. Let X be the random variable that assigns to each outcome (item break, item does not break) the profit to the company.
1- Find The distribution of X
2- Calculate the mean value of X
3- Caculate the standard deviation of X