12. Consider an insurer which has sold 10 independent and identically distributed insurance policies, each having an expected loss of $1,000 and a standard deviation of $800. Furthermore, also assume that losses are normally distributed. a) What are the expected value of the insurer's average loss? b) What are the standard deviation of the insurer's average loss? c) What is the standard deviation of the insurer's average loss, assuming 20 policies instead of 102 d) What is the standard deviation of the insurer's average loss, assuming 20 policies instead of 10 and that all policies all have correlation coefficient of 0.3 with each other