CEE_597_Midterm_1997 - CEE 597 Risk Analysis and Management...

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C E E 5 9 7 – R i s k A n a l y s i s a n d M a n a g e m e n t Midterm Exam 1997 Test is open book and open notes. Show work to justify answers. You have 50 minutes to complete this 50 point exam. [formatted 3/07] 1. (9 points) We have discussed the many dimensions and criteria useful to describe the significant dimensions of risk issues. The City of Ithaca is planning to develop a skateboard park for teenagers to skate and play. The City already has a swimming pool that is open in the summer, and has developed bike lanes and bike trails to encourage the use of bicycles for transportation and recreation. Define 3 different quantitative criteria useful to compare the risk of injury (harm) to teenagers and children related to these three activities. In 2-3 sentences indicate for each criteria why it is important, what dimension of risk it emphasizes, and what it neglects. 2. (15 points) Consider the network below. a) What are the important minimal cut sets ? b) If all components have a failure probability of 5%, except component D which has a failure probability of 0.1%, provide a good estimate of system reliability. c) If you had the opportunity to decrease the failure probability of just one component by an order of magnitude, which should you upgrade ? C B A F E G D H d) For the fault tree below, draw a corresponding network diagram. System Failure A B C D E 3. (6 pts) The owner of an old warehouse is considering ways to decrease the risk of fire damage. An insurance analysis indicates that expected annual damages are $25,000 per year. Installation of a sprinkler system is likely to decrease that number by 50% to $12,500 per year. Installation of a better
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This note was uploaded on 03/02/2011 for the course CEE 5970 taught by Professor Stedinger during the Spring '07 term at Cornell University (Engineering School).

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CEE_597_Midterm_1997 - CEE 597 Risk Analysis and Management...

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