c. Ten percent of the games have an attendance of how many or less? 4. FILE...

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c. Ten percent of the games have an attendance of how many or less? 4. FILE Daniel-James Insurance Company will insure an offshore ExxonMobil oil pro- duction platform against weather losses for 1 year. The president of Daniel-James estimates the following losses for that platform (in millions of dollars) with the accompa- nying probabilities: Amount of Loss ($ millions) 0 40 300 Probability of Loss .98 .016 .004 a. What is the expected amount Daniel-James will have to pay to ExxonMobil in claims? b. What is the likelihood that Daniel-James will actually lose less than the expected amount? c. Given that Daniel-James suffers a loss, what is the likelihood that it is for $300 million? d. Daniel-James has set the annual premium at $2.0 million. Does that seem like a fair premium? Will it cover its risk? school age children ner family in the Whitehall c. Ten percent of the games have an attendance of how many or less? 4. FILE Daniel-James Insurance Company will insure an offshore ExxonMobil oil pro- duction platform against weather losses for 1 year. The president of Daniel-James estimates the following losses for that platform (in millions of dollars) with the accompa- nying probabilities: Amount of Loss ($ millions) 0 40 300 Probability of Loss .98 .016 .004 a. What is the expected amount Daniel-James will have to pay to ExxonMobil in claims? b. What is the likelihood that Daniel-James will actually lose less than the expected amount? c. Given that Daniel-James suffers a loss, what is the likelihood that it is for $300 million? d. Daniel-James has set the annual premium at $2.0 million. Does that seem like a fair premium? Will it cover its risk? school age children ner family in the Whitehall