A group of individuals each face a 1 probability of


A group of individuals each face a 1% probability of suffering a loss of $10,000, a 4% probability of suffering a $1,000 loss, a 20% probability of suffering a $500 loss, and a 75% probability of no loss.

What is the actuarially-fair premium.

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Business Management: A group of individuals each face a 1 probability of
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