Information:
Wasatch Front is in Utah, U.S. Intensity (Lambda) = 1 earthquake every 350 years Length (u) = life expectancy in Utah is 80 years / earthquake interval (“"Utah Life Expectancy") = 80 / 350 = 1/4.375 = 0.2286
Problem:
The problem is: What is the probability of experiencing an earthquake within the Utah lifetime of 80 years? P (x=1, u=0.2286) = e (−0.2286) * (0.2286)1 1! = 0.796 * 0.182 1 = 0.182 ("Poisson Distribution") The probability is 18.2% which means that anyone just born and would be staying in Utah would have this chance to experience a major earthquake along the Wasatch Front.
Which kinds of businesses or organizations should spend resources to prepare for an earthquake?
The first kind includes those ...