A flood forecaster in your area issues a flood warning in Spring based on following two conditions: () Average snowfall in Winter (ii) Average rainfall in Fall Historically, it has been shown that if the winter snowfall exceeds 20 cm and/or the Fall rainfall is between 15 and 20 cm, there are strong chances of flood. The flood forecaster has given you a contract to develop a tool to help predict flood. One of the requirements is that she wants the tool to be able to accept the probabilities for winter snowfall, fall rainfall and flooding from the user. There is also an additional requirement of calculating expected cost related to flood warning system according to following scheme: The cost of a flood after a warning is $200,000, a flood with no warning is $2,000,000, no flood after a warning is $400,000, and zero for no warning and no flood. Here are some directions for you to create the tool: 1. You can use Excel, Matlab or R programming to create your tool 2. Please include a report with following suggested sections: a. Objective and Scope b. Introduction (Just introduce the tool) c. Theoretical/Statistical Concepts used d. Example Calculations e. Conclusions/Future work A flood forecaster in your area issues a flood warning in Spring based on following two conditions: () Average snowfall in Winter (ii) Average rainfall in Fall Historically, it has been shown that if the winter snowfall exceeds 20 cm and/or the Fall rainfall is between 15 and 20 cm, there are strong chances of flood. The flood forecaster has given you a contract to develop a tool to help predict flood. One of the requirements is that she wants the tool to be able to accept the probabilities for winter snowfall, fall rainfall and flooding from the user. There is also an additional requirement of calculating expected cost related to flood warning system according to following scheme: The cost of a flood after a warning is $200,000, a flood with no warning is $2,000,000, no flood after a warning is $400,000, and zero for no warning and no flood. Here are some directions for you to create the tool: 1. You can use Excel, Matlab or R programming to create your tool 2. Please include a report with following suggested sections: a. Objective and Scope b. Introduction (Just introduce the tool) c. Theoretical/Statistical Concepts used d. Example Calculations e. Conclusions/Future work