Assume that three business owners each own an identical storage building valued at $ 120.000 . (fre) , and that a loss to any of the buildings is an Assume that there is a 1 % chance in any year each building will be destroyed by a independent event . Assuming that : ( first case ) Fire events are independent of each other second case ) Each building faces the same types of risks and environmental conditions . Given that solve the below questions for each case : 1. Use the compound probability of independent events law fo find the sample space of the probability ol each possible event 2. Find the annual expected loss for each of the insureds . Sfd dev) 3. Find the risk of incurrence of losses