The United States Coast Guard (USCG) provides a wide variety of information on boating accidents including the
Question:
The United States Coast Guard (USCG) provides a wide variety of information on boating accidents including the wind condition at the time of the accident. The following table shows the results obtained for 4401 accidents (USCG website, November 8, 2012).
Percentage of
Wind Condition Accidents
None ............ 9.6
Light ............57.0
Moderate ..........23.8
Strong .......... 7.7
Storm .......... 1.9
Let x be a random variable reflecting the known wind condition at the time of each accident. Set x = 0 for none, x = 1 for light, x = 2 for moderate, x = 3 for strong, and x = 4 for storm.
a. Develop a probability distribution for x.
b. Compute the expected value of x.
c. Compute the variance and standard deviation for x.
d. Comment on what your results imply about the wind conditions during boating accidents.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Step by Step Answer:
Essentials Of Statistics For Business And Economics
ISBN: 9781305081598
7th Edition
Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam