From a study of damage caused by 80 tropical storms and hurricane in the US, we have the following information from one small insurance company. Storm Catergorisation Tropical storm Hurricane 1 & 2 Hurricane 3 & 4 $0-$5m 34 14 4 Cost $ 5m - $ 20m 8 4 $ 20m+ 2 8 4 Is there a relationship between costs to the insurance company and the storm being classified as a hurricane?

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From a study of damage caused by 80 tropical storms and hurricane in the US, we
have the following information from one small insurance company.
Storm Catergorisation
Tropical storm Hurricane 1 & 2 Hurricane 3 & 4
34
$0-$5m
14
4
Cost $ 5m - $ 20m
2
8
4
$ 20m+
8
4
Is there a relationship between costs to the insurance company and the storm being
classified as a hurricane?
Transcribed Image Text:Question From a study of damage caused by 80 tropical storms and hurricane in the US, we have the following information from one small insurance company. Storm Catergorisation Tropical storm Hurricane 1 & 2 Hurricane 3 & 4 34 $0-$5m 14 4 Cost $ 5m - $ 20m 2 8 4 $ 20m+ 8 4 Is there a relationship between costs to the insurance company and the storm being classified as a hurricane?
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