The template to answer part 1 and 2

RISK ASS Part 1: Bespin Car Rental predicts that the annual probability of one of its cars being destroyed in a crash is 1 in 1,000,000. If destroyed, the value of the property damage to the car equals $45,000. Assume that there are no partial losses; the car is either destroyed in a crash or suffers no loss. A) Show the physical damage loss distribution for Bespin Car Rental's automobiles and calculate the expected value of the physical damage loss. (9 Points) B) Show the calculations for the variance and the standard deviation. (9 Points) Part 2: Mara Jade is analyzing the fire damage losses in her insurance firm that occurred over a one-year period, based on the following data: Number of Claims Filed 0 1 2 Number of Houses 9,855 137 8 Total Number of Claims 0 137 16 C) Fill in the table to find the average frequency of losses per house. (9 Points) D) Use the information in the table to estimate a probability distribution for the frequency distribution of losses per house in a year. (9 Points) 7 A) 8 9 Loss Outcome 10 Probability of Loss Outcome 11 12 Expected Value of Loss Damage 13 14 15 16 B) 17 18 Column 1 19 Loss outcomes 20 21 22 Sum 23 24 Variance 25 Standard Deviation 26 Column 2 Probabilities Column 3 Column 4 Loss Outcome - Expected Loss Squared Difference Column 5 Squared Difference x Probability C) Column 1 Number of Claims Filed Column 2 Number of Houses Column 3 Total Number of Claims Sum Average Frequency D) Number of Claims Probability RISK ASS Part 1: Bespin Car Rental predicts that the annual probability of one of its cars being destroyed in a crash is 1 in 1,000,000. If destroyed, the value of the property damage to the car equals $45,000. Assume that there are no partial losses; the car is either destroyed in a crash or suffers no loss. A) Show the physical damage loss distribution for Bespin Car Rental's automobiles and calculate the expected value of the physical damage loss. (9 Points) B) Show the calculations for the variance and the standard deviation. (9 Points) Part 2: Mara Jade is analyzing the fire damage losses in her insurance firm that occurred over a one-year period, based on the following data: Number of Claims Filed 0 1 2 Number of Houses 9,855 137 8 Total Number of Claims 0 137 16 C) Fill in the table to find the average frequency of losses per house. (9 Points) D) Use the information in the table to estimate a probability distribution for the frequency distribution of losses per house in a year. (9 Points) 7 A) 8 9 Loss Outcome 10 Probability of Loss Outcome 11 12 Expected Value of Loss Damage 13 14 15 16 B) 17 18 Column 1 19 Loss outcomes 20 21 22 Sum 23 24 Variance 25 Standard Deviation 26 Column 2 Probabilities Column 3 Column 4 Loss Outcome - Expected Loss Squared Difference Column 5 Squared Difference x Probability C) Column 1 Number of Claims Filed Column 2 Number of Houses Column 3 Total Number of Claims Sum Average Frequency D) Number of Claims Probability