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Probability: XYZ Company Sample Question

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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.

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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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