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The Bureau of Labor Statistics reports the fatality rate for workers in the rail transportation industry is 0.006 fatalities per 200000 worker-hours. During 2007, rail transportation workers put in a total of 545 million worker-hours. Assuming that (1) an exponential distribut ion applies for the number of worker-hours between fatalities in this industry, and (2) the annual 545 million worker-hours of activity continues in the industry, what is the expected number of worker-hours until the next fatality occurs in this industry? If a given rail transport ation company requires 1,000,000 worker-hours each year, what is the
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Introduction to Business Statistics
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