1) In a 22-year period, a particular location was hit by 46 major hurricanes. As

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Question

1) In a 22-year period, a particular location was hit by 46 major hurricanes. Assume that major hurricanes are independent of each other and that the mean number of hurricanes per year has not changed.

a) What's the probability of no hurricanes next year?

b) What's the probability that during the next year, there is exactly one hurricane?

c) What's the probability that during the next year, there is more than one hurricane?

2) the quarterly returns of a group of 59 mutual fund with the mean of 1.7% and standard deviation of 5.3% can be modeled by a normal model. based on the model N(0.017, 0.053), what are the cutoff values for the
a) a highest 30% of these funds?
b)lowest 10%?
c)middle 60%?
d) higest 90%?

Explanation / Answer

Mean per year = 46/22 = 2.09

we will use poisson distribution

a) Poisson Probability: P(X = 0) = 0.124

b)Poisson Probability: P(X = 1) = 0.259

c)Cumulative Probability: P(X > 1) = 1- 0.124-0.259 = 0.618

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1) In a 22-year period, a particular location was hit by 46 major hurricanes. As

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Explanation / Answer

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