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1.Consider an insurer, for which the loss due to a policy is uniformly distributed between R 50 000 and R 100 000. Determine a premium
1.Consider an insurer, for which the loss due to a policy is uniformly distributed between R 50 000 and R 100 000. Determine a premium p and a number of policies sold, n, to ensure that the return of the insurance portfolio is at least 4%, and standard deviation at most 1%. The correlation between different policies is 1%.
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