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 100 participants are independent b) The expected loss for each participant is $1,500, and losses for the 100 participants are positively correl...

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Sketch the probability distribution for average losses in a pooling arrangement for: a). The expected loss for

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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.