Question: Need to solve this question on Excel as soon as possible and thx for help Assume that three business owners each own an identical storage

Need to solve this question on Excel as soon as possible and thx for help

Assume that three business owners each own an identical storage building valued at $120,000.

Assume that there is a 1% chance in any year each building will be destroyed by a peril (fire), and that a loss to any of the buildings is an independent event. Assuming that:

(first case ) Fire events are independent of each other

(second case) Each building faces the same types of risks and environmental conditions.

Given that, solve the below questions for each case:

1. Use the compound probability of independent events law to find the sample space of the probability of each possible event

2. Find the annual expected loss for each of the insureds.

3. Find the risk of incurrence of losses (Std dev)

Solve the following question using EXCEL Due date is today at 6:00pm Assume that three business owners each own an identical storage building valued at $120.000 Assume that there is a chance in any year each building will be destroyed by a peril (fire), and that a loss to any of the buildings is an independent event. Assuming that: (first case ) Fre events are independent of each other (second case) Each building faces the same types of risks and environmental conditions. Given that solve the below questions for each case: 1. Use the compound probability of independent events law to find the sample space of the probably of each possible event 2. Find the annual expected loss for each of the Insureds. 3. Find the risk of incurrence of losses (Sid devi

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