Question: Please answer the highlighted yellow sheet with how you got the answers. Please don't copy paste from other incorrect answers Mara Jade also analyzes the

Please answer the highlighted yellow sheet with how you got the answers. Please don't copy paste from other incorrect answers

Mara Jade also analyzes the severity from all claims that occurred over a one-year period, based on the following data:

Range of Loss Amount

Midpoint Dollar Amount of Losses

Number of Losses

$1 - $7,999

4,000

100

$8,000 - $20,000

14,000

50

Greater than $20,000

80,000

3

E) Fill in the table to find the average severity per claim.

F) Use the information in the table to estimate a probability distribution for the loss severity per claim.

G) Use convolution to find the average loss.

Please answer the highlighted yellow sheet with how you got the answers.

Column 1 Lower Range of Loss Upper Range c Midpoint of Claims Range Column2 Column3 Number of Losses Column4 Total Dollar Amount of Losses N/A Sum Loss Severity F) Midpoint of Claims Range Probability G) Row Loss 1 Loss 2 Total Loss Probability Total Loss x Probability Sum Column 1 Lower Range of Loss Upper Range c Midpoint of Claims Range Column2 Column3 Number of Losses Column4 Total Dollar Amount of Losses N/A Sum Loss Severity F) Midpoint of Claims Range Probability G) Row Loss 1 Loss 2 Total Loss Probability Total Loss x Probability Sum

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