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Please help me with the questions about Table 1: (Below each question is the choice options) 26.What is the average loss severity in Year 1,
Please help me with the questions about Table 1: (Below each question is the choice options)
26.What is the average loss severity in Year 1, based on Table 1? Round to the closest integer when calculating your answer.
$6,588
$7,714
$8,137
$9,450
27.Based on Table 1, what is the average loss severity in Year 3? Round to the closest integer when calculating your answer.
$7,253
$8,137
$11,300
$12,556
28.Based on Table 1, what is the average number of losses per year? Round to the closest integer when calculating your answer.
5
6
7
8
Table 1. The following table contains loss data from Smith Corporation. Year 1 Year 2 Year 3 Loss Severity Loss Severity Loss Severity #1 $4,000 #1 $7,000 #1 $3,000 #2 2,000 #2 27,000 #2 9,500 #3 8,000 #3 5,000 #3 17,000 # #4 5,500 #4 14,000 #4 12,000 #5 19,000 #5 3,500 #5 5,000 #6 11,000 #6 31,000 #7 4,500 #7 21,000 #8 6,000 #9 8,500Step by Step Solution
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