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Canada (162,320)
Business (2,391)
BU353 (31)
Chapter 4

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Department
Business
Course
BU353
Professor
Heather Graham
Semester
Fall

Description
Chapter 4Pooling Arrangements and Diversification of RiskDiversification of risk is one of the most important risk management conceptsPooling Arrangementparties pool their resources to pay evenly any accident costs that may occurAdditional risk reduction can be obtained from pooling by adding additional people or businesses to the arrangementLaw of Large Numbersas the number of participants increases the average outcome is likely to get very close to the expected valueThe amount of risk that can
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