Question 8.95

image 64. In August 2006, El Paso had a storm that was called a “500-year flood.”

  1. What is the expected value of the number of 500-year floods in a 1000-year period?
  2. After the city moved to raise money to guard against such a major flood in the future, a city council representative was quoted as protesting, “But we still have 490 more years to deal with this.” What false assumption was he making?