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Assignment
As the risk management of a small chain of restaurants, you are analyzing the losses incurred over the last 10 years. Using these data, calculate the:
Years LossesYears 1-2 1200Year 3 1000Years 4-6 800Year 7-8 500Years 9-10 100
a) Expected value of lossesb) Variancec) Standard Deviationd) Coefficient of Variatione) In what (approximate) range should losses fall 95 percent of the time?
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