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Business, 30.07.2021 19:40 corrineikerd

A casualty insurer issues a policy that protects against a loss that occurs 15% of the time at $500 and 10% of the time at $1000, otherwise there is no loss. There is a deductible of $100 and a maximum benefit of $500 after the deductible. What is the variance of the benefit

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A casualty insurer issues a policy that protects against a loss that occurs 15% of the time at $500...
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