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Mara Jade also analyzes the severity from all claims that occurred over a one - year period, based on the following data: Range of Loss
Mara Jade also analyzes the severity from all claims that occurred over a oneyear period, based on the following data:
Range of Loss Amount Midpoint Dollar Amount of Losses Number of Losses
$ $ $
$ $ $
Greater than $ $
E Fill in the table and calculate the average severity.
F Use the inforormation in the table to estimate a probability distribution for the loss severity.
G Use convolution to find the average loss.
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