1,https://www.youtube.com/watch?v=L4HIPKg_CiA

2,Most Small businesses lack disaster-recovery plan, survey finds

3,Sierra Nevada Brewery Issues 36 state Recall of Select Beers

Homework 3 (16 points)

• In the Suggested Video, “The Reason Casinos Always Win: Meet the Law of Large Numbers: (Topic 4 Suggested Videos)
• In “Most Small businesses lack disaster-recovery plan, survey finds” (Topic 5 Supplemental)
• In “Sierra Nevada Brewery Issues 36 state Recall of Select Beers” (Topic 5 Supplemental)

• What is the Expected Value of a single bet in Albert the Cat’s game? (2 points)
• Who is credited with concluding that the accuracy of a prediction goes up as the sample size increases? (2 points)
• If there are 80 tosses of a coin in Albert the Cat’s game, how many chips will the casino likely win? (2 points)

• Name three risk control actions companies can take to prepare for a disaster that are discussed in the article. (3 points)
• What insurance related actions are recommended? (2 points)

• What type of risk did the company identify here? (1 point)
• If the company made and sold 40,000 bottles of Sierra Nevada Pale Ale before stopping production, how many claims could it expect given the information in the article? (2 points)
• What risk control technique did the firm practice after it became aware of the defect? (2 points)

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