5. Kio Outfitters estimated the following losses and probabilities from past experience: Loss ( ) Probability (%)
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5. Kio Outfitters estimated the following losses and probabilities from past experience:
Loss ( ) Probability (%) 30,000 0.25 15,000 0.75 10,000 1.50 5,000 2.50 1,000 5.00 250 15.00 0 75.00
What is the probability Kio will experience a loss of or greater? If an insurance company offers a loss policy with a deductible, what is the most Kio will pay?
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Related Book For 
Financial Markets And Institutions
ISBN: 9780134519265
9th Edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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