Suppose that during a recent 30​-year ​period, there were eight volcanic eruptio

a2linetagadaW

a2linetagadaW

Answered question

2021-09-22

Suppose that during a recent 30​-year ​period, there were eight volcanic eruptions sufficiently powerful to reduce the amount of power generated by solar panels by at least 20​% for a period of a year. Call these​ "Class D20" volcanoes. Suppose that the return on investment from installing solar panels is often calculated over a 25​-yearperiod. What is the probability​ that, during a 25​-year ​period, there will be two or more​ "Class D20​" volcanic​ eruptions?

Answer & Explanation

unett

unett

Skilled2021-09-23Added 119 answers

Step 1
From provided information, during a recent 30​-year period, there were eight volcanic eruptions sufficiently powerful to reduce the amount of power generated by solar panels by at least 20​% for a period of a year i.e. \(\displaystyle{p}={0.20}\ {\quad\text{and}\quad}\ {n}={8}\).
The probability that during 25-year period, there will be two or more “Class D20 eruptions” can be calculated using binomial probability function.
The probability mass function is said to be binomial probability mass function if the probability mass function is given as:
\(\displaystyle{P}{\left({X}={x}\right)}=^{{{n}}}{C}_{{{x}}}{p}^{{{x}}}{\left({1}-{p}\right)}^{{{n}-{x}}}\)
Step 2
The probability that during 25-year period, there will be two or more “Class D20 eruptions” can be calculated as:
\(\displaystyle{P}{\left({X}\geq{2}\right)}={1}-{P}{\left({X}{<}{2}\right)}\)
\(\displaystyle={1}-{\left[{P}{\left({X}={0}\right)}+{P}{\left({X}={1}\right)}\right]}\)
\(\displaystyle={1}-{\left[^{\left\lbrace{8}\right\rbrace}{C}_{{{0}}}{\left({0.2}\right)}^{{{0}}}{\left({1}-{0.2}\right)}^{{{8}}}+^{{{8}}}{C}_{{{1}}}{\left({0.2}\right)}^{{{1}}}{\left({1}-{0.2}\right)}^{{{7}}}\right]}\)
\(\displaystyle={0.49668352}\)
So, probability that during 25-year period, there will be two or more “Class D20 eruptions” is \(\displaystyle{0.49668352}\approx{0.4969}\).

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