Question: 5. We assume 4 people having same distribution. The pooling arrangement between 4 people is given as following, Loss = Outcome $10,000 $7,500 $5,000 $2,500

5. We assume 4 people having same distribution. The pooling arrangement between 4 people is given as following, Loss = Outcome $10,000 $7,500 $5,000 $2,500 $0 Probability 0.000006 0.000475 0.014 0.171 0.815 a. Calculate the expected value b. Calculate variance and Standard deviation C. Compare your results to those of question 3 and 4 (c). Interpret your results

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