QUESTION ONE As an insurance company risk analyst, you have been assigned to assess the risk associated with insurance claims in a particular portfolio. To perform this analysis, you need to calculate various statistical measures, including the mean, mode, median, and standard deviation of the claim amounts. Given the following information about the claim amounts, your task is to compute and interpret these statistical measures: The dataset contains 40 insurance claims made by policyholders. The claim amounts are as follows: $2,000, $1,500, $3,500, $2,500, $4,000, $1,500, $2,000, $2,500, $3,000, $2,500, $2,000, $3,500, $4,500, $1,500, $2,000, $3,000, $2,500, $2,500, $2,000, $1,500, $2,500, $2,000, $3,500, $2,000, $2,500, $2,000, $2,500, $1,500, $2,000, $2,500, $1,500, $2,000, $3,000, $2,500, $4,000, $1,500, $2,000, $2,500, $3,000, $2,500, To calculate and interpret the statistical measures: (i) Calculate the mean claim amount. (ii) Determine the mode(s) of the claim amounts. (iii) Calculate the median claim amount. (iv) Calculate the standard deviation of the claim amounts. Interpret the statistical measures obtained in terms of the risk associated with the insurance claims.