RMI 2101Risk Management and Insurance AnalysisRMI 2101Sections 003 and 005SPRING2013HOMEWORKASSIGNMENT530PointsDUE ONFRIDAY,MARCH8,2013ATTHEBEGINNINGOFCLASSBe careful to follow theGuidelines for HomeworkDocumentlocated in theCourse Documents Section of Blackboard.You will lose points for not followingproper format.Although this assignment does not have to be typed,you should submit it on 8½x 11paper. No torn-out pages from a spiral notebook will be accepted. Be sureyou follow other guidelines contained in theGuidelines for HomeworkDocument.1.The Civil Air Patrol (CAP) owns airplanes used for search and rescuemissions. In the course of their activities, CAP sustains losses in the formof property damages to their airplanes. Assume that the CAP covers twomajor regions in PA–theNortheast (NE)and theSouthwest (SW).Assume that the following information is based on thepast 10 years ofdata and you are projecting for the year 2014.The CAP has the following data for the number of accidents per airplanein theNE Region.# of accidents per airplaneper yearProbability of having this # ofaccidents0.601.252.103?a.What is therandom variableillustrated here? (2 points)Preview Mode
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