Use Analytic Solver Platform to fit the hurricane data to a discrete distribution? Does the Poisson distribution
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Use Analytic Solver Platform to fit the hurricane data to a discrete distribution? Does the Poisson distribution give the best fit?
The number and frequency of Atlantic hurricanes annually from 1940 through 2012 is shown here.
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a. Find the probabilities of 0– 12 hurricanes each season using these data.
b. Assuming a Poisson distribution and using the mean number of hurricanes per season from the empirical data, compute the probabilities of experiencing 0– 12 hurricanes in a season. Compare these to your answer to part ( a). How good does a Poisson distribution model this phenomenon? Construct a chart to visualize these results.
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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Related Book For 
Business Analytics Methods Models and Decisions
ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
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