(a) Use the following table of information. Probability of Loss Outcomes Kristen Janet Loss Outcome #1 .15 $1,500 $1,000 Loss Outcome #2 .85 $0 $100 What is Kristen's expected loss and standard deviation of expected loss? (8 MARKS) ii. What is Janet's expected loss and standard deviation of expected loss? (8 MARKS) (b) Assume the chance of loss is 3 percent for two different fleets of trucks. Explain how it is possible that objective risk for both fleets can be different even though the chance of loss is identical. (4 MARKS