Question: Please help as soon as possible. I appreciate any help! A firm has the following probability distribution for annual losses due to vandalism: Loss Amount

Please help as soon as possible. I appreciate any help!

A firm has the following probability distribution for annual losses due to vandalism: Loss Amount Probability $0 0.55 $5,000 0.40 $10,000 0.05 The firm is considering three options: 1. Partial Insurance > Face amount = $5,000; Premium = $3,000 2. Deductible Insurance > Face amount - $10.000; Deductible - $500: Premium - $3,500 3. Retention plus loss prevention. Loss Prevention cost $400. Probability changes to 70% for $0 loss, 25% for $5,000 loss. $10,000 probability remains the same Answer in the text box below. Derive the loss matrix for the firm. Simply copy and paste the below loss matrix into your answer box and then fill out the loss matrix accordingly. After completing the loss matrix - Calculate the expected Cost of each option? (6 points) 000 000 80 F3 F! F2 FS $ % G C

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