Sketch the probability distribution for average losses in a pooling arrangement in each of the following cases on the same graph. The appearance of any one distribution is notimportant;instead, the relative appearance of the distribution matters.

1. The expected loss for each participant is CHF 200, and losses for the 100 participants are independent.
2. The expected loss for each participant is CHF 200, and losses for the 100 participants areperfectlypositively correlated.
3. The expected loss for each participant is CHF 1'800, and losses for the 100 participants are independent.
4. The expected loss for each participant is CHF 1'800, and losses for the 1000 participants are independent.