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Calculate the severity and frequency of the losses

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Reference no: EM132552956

Following is the loss data for slip-and-fall shoppers' medical claims of the fashion designer LOLA for the years 2013-2017.

Year Number of Slip-and-Fall Claims Slip-and-Fall Losses

2013 700 $2,650,000

2014 1,000 $6,000,000

2015 700 $7,000,000

2016 900 $12,300,000

2017 1,400 $10,500,000

How do you calculate the severity and frequency of the losses?

Reference no: EM132552956

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