An actuary models losses due to large fires using a lognormal distribution. The average loss due...

 

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An actuary models losses due to large fires using a lognormal distribution. The average loss due to a large fire is $30 million. The standard deviation of losses due to large fires is $10 million. Calculate the probability that a loss due to a large fire exceeds $35 million. An actuary models losses due to large fires using a lognormal distribution. The average loss due to a large fire is $30 million. The standard deviation of losses due to large fires is $10 million. Calculate the probability that a loss due to a large fire exceeds $35 million.