Risk Management Solutions

Chapter 3 Risk Identification and Measurement I. Multiple resource 1.A listing of a haphazard variables viable outcomes and the respective probabilities of those outcomes is called the: a. pass judgment value b. mensuration refraction c. chance statistical dispersal d. correlation arrange: c Type: K 2.Multiplying each possible outcome of a random variable by its probability of occurrence, and then adding up these results will be equal to the random variables: a. judge value b. measuring rod parenthesis c. probability distribution d. correlation Answer: a Type: K 3.The interpret above depicts the probability distributions for finds A and B. found on the graph, which of the followers statements is true? a. The evaluate value of personnel casualty for venture A is big than the expected value of discharge for risk B. b. The expected value of loss for risk B is big than the expected value of loss for risk A. c. The sta ndard warp of expected losses for risk A is larger than the standard deviation of losses for risk B. d. The standard deviation of expected losses for risk B is larger than the standard deviation of losses for risk A. Answer: a Type: A apply this table to answer questions 4 through 7: | injury Distribution X |Loss Distribution Y | | termination |Probability |Outcome |Probability | |$0 |.60 |$0 |.40 | |$1,000 |.25 |$1,000 |.50 | |$5,000 |.15 |$5,000 ! |.10 | 4.Which distribution has the highest expected value? a. Distribution X b. Distribution Y c. Both lose the same expected value d. There is not enough instruction to answer this...If you want to get a full essay, browse it on our website: OrderEssay.net

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