Calculate per vehicle expected value and standard deviation

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Reference no: EM13921308

A delivery company has a fleet of cars. The loss distribution per vehicle is:

Amount of Loss (Xi) Probability (Pi)

10 0.1 500 0.3 1,000 0.6

Calculate the per vehicle expected value and standard deviation

Speedy employs 81 cars and they pool these risks. Assuming the risks are independent, what is the per vehicle expected value and standard deviation after pooling.

Reference no: EM13921308

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