An insurance policy has a deductible of 10,000, policy limit of 100,000, and a coinsurance factor of 80%. During the year, the insured suffers six losses of sizes: 3000, 8000, 14,000, 80,000, 120,000,...

Extracted text: An insurance policy has a deductible of 10,000, policy limit of 100,000, and a coinsurance factor of 80%. During the year, the insured suffers six losses of sizes: 3000, 8000, 14,000, 80,000, 120,000, and 200,000. (a) How much does the insurer pay in total? (b) What is the amount paid per loss (or the expected payment per loss)?