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In a recent year, potentially dangerous commercial aircraft incidents (e.g., near collisions) averaged 1.2 per 100,000 flying hours. Let X be the number of incidents in a 100,000-hour period.

(a) Justify the use of the Poisson model.

(b) What is the probability of at least one incident?

(c) More than three incidents?

(d) Construct the probability distribution (Excel or Appendix B) and make a graph of its PDF.

(a) Justify the use of the Poisson model.

(b) What is the probability of at least one incident?

(c) More than three incidents?

(d) Construct the probability distribution (Excel or Appendix B) and make a graph of its PDF.

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...

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