Assume that an insurer has sold a large number of independent policies in a certain business line (such as homeowner's insurance). Also assume that the expected total loss is $2 million, and that the standard deviation of total losses is $300,000. Using NORMDIST function in EXCEL, how do we calculate the probability that the total losses will exceed $2.5 million? NORMDIST(2.5, 2, 0.3, TRUE) NORMDIST(2.5, 2, 0.3, FALSE) 1 - NORMDIST(2.5, 2, 0.3, TRUE) 1 - NORMDIST(2.5, 2, 0.3, FALSE)