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Based on the information in NJ station, Amazon has constructed the following table related to the dollar amount of losses for 80 reported accidents.
$ amount of losses
# of accidents having this $ amount of losses
$600
56
$2,000
20
$5,400
4
A.) Derive the probability distribution of the dollar amount of losses based on this data. Be careful to label exactly what you are defining as the probability distribution.
B.) Calculate the expected value of severity per truck in NJ station.Show all work.
C.) Calculate the expected loss per truck in NJ station. Show all work.
D.) Calculate the expected loss for ALL trucks in NJ station. Show all work.
Need parts A-D solved and work shown!thank you for solving!
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