What is the expected loss value and standard deviation

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Reference no: EM131811010

Two business owners own identical buildings valued at $70,000

There is a 15 percent chance each building will be destroyed by a peril in any year

Loss to either building is an independent event

What is the Expected Loss value and Standard Deviation of the loss for each owner? They are pooling their losses.

Must show all work

Reference no: EM131811010

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