Question: Please help me with the questions about Table 1: (Below each question is the choice options) 29.Based on Table 1, what is the average loss
Please help me with the questions about Table 1: (Below each question is the choice options)
29.Based on Table 1, what is the average loss severity over the three years? Round to the closest integer when calculating your answer.
$8,137
$10,643
$11,300
$11,751
30.Based on Table 1, using the three-year average frequency and average severity, what is the expected total loss amount for the next year (Year 4)? Round to the closest integer when calculating your answer.
$65,891
$74,501
$79,261
$81,951

Table 1. The following table contains loss data from Smith Corporation. Year 1 Year 2 Year 3 Loss Severity Loss Severity Loss Severity #1 $4,000 #1 $7,000 #1 $3,000 #2 2,000 #2 27,000 #2 9,500 #3 8,000 #3 5,000 #3 17,000 # #4 5,500 #4 14,000 #4 12,000 #5 19,000 #5 3,500 #5 5,000 #6 11,000 #6 31,000 #7 4,500 #7 21,000 #8 6,000 #9 8,500 Table 1. The following table contains loss data from Smith Corporation. Year 1 Year 2 Year 3 Loss Severity Loss Severity Loss Severity #1 $4,000 #1 $7,000 #1 $3,000 #2 2,000 #2 27,000 #2 9,500 #3 8,000 #3 5,000 #3 17,000 # #4 5,500 #4 14,000 #4 12,000 #5 19,000 #5 3,500 #5 5,000 #6 11,000 #6 31,000 #7 4,500 #7 21,000 #8 6,000 #9 8,500
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