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Probability: XYZ Company Sample Question

*PLEASE SHOW ALL WORK FOR COMPLETING THIS PROBLEM SO THAT I KNOW HOW TO DO IT IN FUTURE SITUATIONS*

From past information, XYZ has collected the following data for the # of building losses per year for their 80 buildings.

# of building losses per year # of buildings having these losses
0 40
1 25
2 10
3 5
4 ??

A) derive the probability distribution for frequency based on the information above, and make sure your answer is labeled properly so that I know what it is, thank you.

B) Calculate the expected value of frequency for XYZ Company.

C) Calculate the Standard Deviation for XYZ Company.

Solution Preview

Since there are 80 buildings in total, ?? = 10 (80 - 40 - 25 - 5)

The following is the distribution of looses.

# of building losses per year Probability
0 40/80 = 0.5

1 25/80 = ...

Solution Summary

XYZ Company sample questions are examined in the solution. The expert expected value of frequency for XYZ Company is given.

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