What is expected number of regions with major forest fires

Assignment Help Finance Basics
Reference no: EM131640866

Question: Three areas of southern California are prime candidates for forest fires each dry season. You believe (based on historical evidence) that each of these areas, independently of the others, has a 30% chance of having a major forest fire in the next dry season.

a. Find the probability distribution of X, the number of the three regions that have major forest fires in the next dry season.

b. What is the probability that none of the areas will have a major forest fire?

c. What is the probability that all of them will have a major forest fire?

d. What is expected number of regions with major forest fires?

e. Each major forest fire is expected to cause $20 million in damage and other expenses. What is the expected amount of damage and other expenses in these three regions in the next dry season?

Reference no: EM131640866

Questions Cloud

Find the probability distribution of x : A construction company has to complete a project no later than three months from now or there will be significant cost overruns.
What are functions and dysfunctions of tracking in schools : What are functions and dysfunctions of tracking in schools? In what ways might tracking have positive and negative impacts on self-concepts of various students?
What is to be gained by this communication tool : At what stage of the negotiation process would role reversal be useful and what is to be gained by this communication "tool"?
What is an individuals party identification : As discussed in lecture, party id is "the one thing you need to know" about an individual to understand their political thinking and behavior - explain why.
What is expected number of regions with major forest fires : Three areas of southern California are prime candidates for forest fires each dry season. You believe (based on historical evidence) that each of these areas.
Describe and evaluate a mutual gains situation : Describe and evaluate a "mutual gains" situation.
Which is considered a victims right gained at the expense : Which of the following is considered a victim's right gained at the expense of criminal justice agencies and officials?
Define how were the two methods you used different : Why do you think one worked better than the other, Did one seem more effective to you
Describe the major types or sources of power : “There are some negotiators who may not be concerned with their own power, but they can still be effective negotiators”.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd