Actuaries at an insurance company must determine a premium for a new type of insurance. A random
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a. Find the mean, median, and mode of these 40 losses.
b. Which of the mean, median, or mode is largest?
c. Draw a box-and-whisker plot for these data, and describe the skewness, if any.
d. Which measure of central tendency should the actuaries use to determine the premium for this insurance?
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