For each question, create the entire Poisson distribution for the situation described in the question. The “POISSON” function will calculate the probability results. You’ll need to create a Poisson distribution table and distribution graph for each problem. Use the table you build to answer all the probability questions. Show your work.
1) A major hurricane is a hurricane with wind speeds of 111 miles per hour or greater. During the 20th century, the mean number of major hurricanes to strike the U.S. mainland per year was about 0.7. Find the probability that in a given year a) exactly one major hurricane will strike the U.S. mainland, b) at most one major hurricane will strike the U.S. mainland, and c) more than one major hurricane will strike the U.S. mainland.
2) The mean number of days with 0.01 inch or more precipitation per month for Lewistown, Idaho, is about 8.7. Find the probability that in a given month a) there are exactly 9 days with 0.01 inch or more precipitation, b) there are at most 9 days with 0.01 inch or more precipitation, and c) there are more than 9 days with 0.01 inch or more precipitation.
(a) From a business perspective, which measurement is more important the Mode, the Mean, or the Median? Provide examples (business related) that demonstrate the appropriateness of one of these measures and the inappropriateness of the other two in a particular situation.
(b) Can you think of situations where another one of the measures is more appropriate or relevant?
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