In order to set premiums at profitable levels, insurance companies must estimate how much they will have to pay in claims on cars of each make and model, based on the value of the car and how much damage it sustains in accidents. Let C be a random variable that represents the cost of a randomly selected car of one model to the insurance company. The probability distribution of C is given below.$0С$500 $1000 $2000Р(С) | 0.60 | 0.05 0.13 0.22The standard deviation is s = $817.60 . Interpret this value in context.Question 02)A professor gave a short quiz and tracked the number of questions the students missed. The results are in the probability distribution listed below where X = the number of questions missed on the quiz.If the professor selects a student from the class at random, what’s the probability this student missed at least two questions on the quiz?Please answer both to get a thumbs up.