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Problems 1. An insurer has a group of 500 vans to insure with loss parameters of E(X) = $150 and VAR(X) 280,000. = a.

Problems 1. An insurer has a group of 500 vans to insure with loss parameters of E(X) = $150 and VAR(X) 280,000. = a. Find E(T) and VAR(T). b. Find the total gross premium to be charged if Z=2.33. C. Find the gross premium to be charged to insure one van.

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