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What is the estimated probability of an accident

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Reference no: EM131726598

Question: The observed risk of an accident per month at a busy intersection without any stoplights was 1%. The potential benefit of adding a stoplight was studied by using a computer simulation modeling the typical traffic flow for a month at that intersection. In 10,000 repetitions, a total of 50 simulated accidents occurred.

a. What is the estimated probability of an accident in a month at the intersection with a stoplight added?

b. Would adding the stoplight be a good idea? Explain.

Reference no: EM131726598

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