Question: Loss Amount ($) Probability (%) 0 600 1,200 3,000 7,000 (a) What is Alfie's expected loss amount? (b) What is Alfie's standard deviation of loss?

Loss Amount ($) Probability (%) 0 600 1,200 3,000

Loss Amount ($) Probability (%) 0 600 1,200 3,000 7,000 (a) What is Alfie's expected loss amount? (b) What is Alfie's standard deviation of loss? (c) What is Alfie's coefficient of variation of loss

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