Consider the accompanying observations on stream flow (1000s of acre-feet) recorded at a station in Colorado for the period April 1-August 31 over a 31-year span.150.5866.24117.6489.59204.91108.91185.36210.07109.11117.70285.37280.55299.8758.86100.8594.33125,86302.74311.13151.32247.11203.24127.96330.33114.79145.11262.09200.19493.80111.78133.86An appropriate probability plot supports the use of the lognormal distribution as a reasonable model for stream flow.(a) Estimate the parameters of the distribution. [Hint: Remember that X has a lognormal distribution with parameters u and o? if In(X) is normally distributed withmean u and variance o2.] (Round your estimate for the mean to three decimal places, and round your estimate for the variance to four decimal places.)62 =(b) Use the estimates of part (a) to calculate an estimate of the expected value of stream flow. [Hint: What is E(X)?] (Round your answer to two decimal places.)thousand acre-feet

Introduction: Denote X as the stream flow (thousand acre-feet) in the period between April 1 and…

Answered: Consider the accompanying observations…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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