Question: Use the 6 8 / 9 5 / 9 9 percent estimations for the normal distribution. A normally distributed speculative risk is described below: Risk:

Use the 68/95/99 percent estimations for the normal distribution. A normally distributed speculative risk is described below:
Risk: Property losses
Mean: 300,000
Standard Deviation: 50,000
What budget should be established to retain Property losses with 97.5% certainty?
Group of answer choices
375,000
300,000
425,000
450,000
400,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!