Crescent City, California, is in an area that is subject totsunamis. Its harbor was severely damaged by
Fantastic news! We've Found the answer you've been seeking!
Question:
Crescent City, California, is in an area that is subject totsunamis. Its harbor was severely damaged by the tsunami caused bythe earthquake off the coast of Japan on March 11, 2011. Theprobability P (as a decimal) that no tsunami with waves of 15 feetor higher will strike Crescent City over a period of t years isgiven by the formula
P = 0.99^t.
What is the percentage decrease of the probability for eachone-year increase in the time interval?
Related Book For
Behavioral Corporate Finance Concepts And Cases For Teaching Behavioral Finance
ISBN: 9781259277207
2nd Edition
Authors: Hersh Shefrin
Posted Date: