Question: Sketch the probability distribution for average losses in a pooling arrangement for: a). The expected loss for each participant is $1,500, and losses for the

  1. Sketch the probability distribution for average losses in a pooling arrangement for:
    1. a). The expected loss for each participant is $1,500, and losses for the 100 participants are independent.
    1. b). The expected loss for each participant is $1,500, and losses for the 100 participants are positively correlated.

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