The Following Probability Model Describes the Number of Snow Storms

question 4

Short Answer

The following probability model describes the number of snow storms for Washington,D.C.for a given year: $$\begin{array} { l | c | c | c | c | c | c | c } \text { Number of Storms } & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\hline \text { Probability } & .25 & .33 & .24 & .11 & .04 & .02 & .01\end{array}$$ The probability of 7 or more snowstorms in a year is 0.
a.What is the probability of more than 2 but less than 5 snowstorms?
b.Given this a particularly cold year (in which 2 snowstorms have already been observed), what is the conditional probability that 4 or more snowstorms will be observed?
c.If at the beginning of winter there is a snowfall, what is the probability of at least one more snowstorm before winter is over?

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Definitions:

Business Cycle

The natural rise and fall of economic growth that occurs over time, consisting of periods of expansion, peak, contraction, and trough.

Fiscal Year

A government's or organization's financial year used for accounting purposes, which may not necessarily align with the calendar year.

Multiplier

In economics, a factor by which a change in spending will be magnified in the overall economy, affecting output and income levels.

MPC

Marginal Propensity to Consume, which measures the proportion of additional income that an individual spends on consumption.