2. Assume that a loss history is normally distributed with a mean of $5,000 and a standard deviation of $1,500. a) What's the probability that the next loss will be greater than $5,750? (1.5 points) 1 b) If the risk manager is willing to tolerate 2% chance that costs will be greater than the maximum probable loss, what is the maximum probable loss level? (1.5 points) c) In what range, with 95 % certainty, can we expect the losses to fall this coming year? (2 points)