Question: 6. Suppose Sam and Jack each separately faces the same exact loss distribution, as follows: Possible Outcomes PROBABILITY $0 0.9 $1,000 0.1 1) Measure Sam

6. Suppose Sam and Jack each separately faces the same exact loss distribution, as follows: Possible Outcomes PROBABILITY $0 0.9 $1,000 0.1 1) Measure Sam or Jack's expected losses and standard deviation. 2) Suppose Sam and Jack pool together so that each pays half whenever the other one experiences a loss: (a) What happens to the likelihood of $0 total loss? (b) What happens to the likelihood of $1,000 total loss? (c) What happens to the likelihood of $2,000 total loss? (d) What's the expected loss per person? What's the standard deviation per person
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