Refer to Questions 11 and 12. Calculate the expected value and standard deviation of the pooled mean

Question:

Refer to Questions 11 and 12. Calculate the expected value and standard deviation of the pooled mean losses.

In questions

Al’s Toy Store faces the following probability distribution of fire losses in its store over the next year:

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...