Imagine that you live in an a rea where floods occur on average every ten years. The
Question:
Imagine that you live in an a rea where floods occur on average every ten years. The probability of a flood in your area is constant from year to year. You are considering whether to live in your house for a few more years and save up some money, or whether to move before you lose everything you own in the next flood.
(a) What is the probability that there will no floods in your a rea over the course of the next two years?
(b) What is the probability that there will be exactJy one flood in your area over the course of the next two years?
(c) What is the probability that there will be at least one flood over the course of the next two years?
(d) What is the probability that there will be at least one flood over the course of the next ten years?
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