Waec Model Questions Vol1 2024 Geography Question 26

A region has experienced two types of environmental hazards over the past ten years. Floods occurred 4 times, each affecting 1,500 households with an average loss of ₦200,000 per household. Landslides occurred 2 times, each affecting 800 households with an average loss of ₦350,000 per household. The government assumes that the annual probability of a flood is proportional to the number of rainy days (120 days per year) and that of a landslide is proportional to the number of days with soil saturation (45 days per year), with the same proportionality constant for both hazards. Using the observed frequencies to estimate the annual probabilities, calculate which hazard has the higher expected annual economic loss and determine the amount of the mitigation budget (₦5 billion) that should be allocated to the flood, assuming allocation is proportional to each hazard's contribution to the total expected annual loss.