7RMI 2101 Risk Management and Loss Calculations for Speedy Delivery
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7RMI 2101 Risk Management and Loss Calculations for Speedy Delivery 7 RMI 2101 S PRING 2013 S ECTIONS 003 AND 005 H OMEWORK A SSIGNMENT S IX 20 Points D UE ON M ONDAY , M ARCH 18 TH , 201 3 AT THE BEGINNING OF CLASS Be careful to follow the Guidelines for Homework Document located in the Course Documents Section of Blackboard . You will lose points for not following proper format . Although this assignment does not have to be typed, you sho uld submit it on 8 ½ x 11 paper. No torn - out pages from a spiral notebook will be accepted . Be sure you follow other guidelines contained in the Guidelines for Homework Document . 1. Assume that Speedy Delivery (SD), a mail service company, has distribution centers all along the East coast. SD uses a fleet of 10 0 0 delivery trucks in its operations dispersed among the various distribution centers. From past information the Chief Risk Officer for SD has constructed the following probability distribution for the number of losses per truck per month . # of losses per truck per month # of trucks having these losses 0 3 75 1 22 0 2 19 0 3 15 0 4 ?? Calculate expected value of frequency per truck per month . What are the units of measurement ? [2]Page 2
7RMI 2101 Risk Management and Loss Calculations for Speedy Delivery 7 RMI 2101 S PRING 2013 S ECTIONS 003 AND 005 H OMEWORK A SSIGNMENT S IX 20 Points D UE ON M ONDAY , M ARCH 18 TH , 201 3 AT THE BEGINNING OF CLASS Be careful to follow the Guidelines for Homework Document located in the Course Documents Section of Blackboard . You will lose points for not following proper format . Although this assignment does not have to be typed, you sho uld submit it on 8 ½ x 11 paper. No torn - out pages from a spiral notebook will be accepted . Be sure you follow other guidelines contained in the Guidelines for Homework Document . 1. Assume that Speedy Delivery (SD), a mail service company, has distribution centers all along the East coast. SD uses a fleet of 10 0 0 delivery trucks in its operations dispersed among the various distribution centers. From past information the Chief Risk Officer for SD has constructed the following probability distribution for the number of losses per truck per month . # of losses per truck per month # of trucks having these losses 0 3 75 1 22 0 2 19 0 3 15 0 4 ?? Calculate expected value of frequency per truck per month . What are the units of measurement ? [2]