Business, 17.06.2020 17:57, ella3714

Suppose a company owns 20 trucks each having an estimated value of Birr 250,000. Considering historical data, the risk manager has come up with an estimate that the average monetary loss per accident is Birr 60,000 and the probability of a truck facing an accident is 0.2. And it is generally assumed that a truck can experience more than one accident in a given year. What is the expected total monetary loss?

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Suppose a company owns 20 trucks each having an estimated value of Birr 250,000. Considering histori...