Solution-Calculate expected value of losses and standard

Calculate expected value of losses and standard deviation

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Assignment

As the risk management of a small chain of restaurants, you are analyzing the losses incurred over the last 10 years. Using these data, calculate the:

Years           Losses
Years 1-2       1200
Year 3            1000
Years 4-6       800
Year 7-8         500
Years 9-10      100

a) Expected value of losses
b) Variance
c) Standard Deviation
d) Coefficient of Variation
e) In what (approximate) range should losses fall 95 percent of the time?

Reference no: EM131405537

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Calculate expected value of losses and standard deviation

Reference no: EM131405537

Reference no: EM131405537

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