Meteors and Money Management

I probably heard of Wethersfield, Connecticut, although I forgot about it until teaching a statistics course last academic year. The town vanished from my memory shortly thereafter, because as far as I know I’ve never been there or known anyone who had. The rather exciting meteor strike in Russia last week brought it back to mind, though, because the town worked its way into a probability book I was using for reference.

Here’s the setup: the town is about 14 square miles in area, out of something like 200,000,000 square miles of land and water on the surface of the Earth. Something like three meteors of appreciable size strike the surface of the Earth, somewhere, three times a day. Suppose that every spot on the planet is equally likely to get a meteor strike. So, what’s the probability that Wethersfield should get struck in any one year?

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