2005 was a record year for hurricane devastation in the United States (San Luis Obispo Tribune, No- vember 30, 2005). Of the 26 tropical storms and hurricanes in the season, four hurricanes hit the mainland: Dennis, Katrina, Rita, and Wilma. The United States insured catastrophic losses since 1989 (approximate values read from a graph that appeared in the San Luis Obispo Tribune, November 30, 2005) are as follows:
Year Cost (in billions of dollars)
|
1989
|
7.5
|
|
1990
|
2.5
|
|
1991
|
4.0
|
|
1992
|
22.5
|
|
1993
|
5.0
|
|
1994
|
18.0
|
|
1995
|
9.0
|
|
1996
|
8.0
|
|
1997
|
2.6
|
|
1998
|
10.0
|
|
1999
|
9.0
|
|
2000
|
3.0
|
|
2001
|
27.0
|
|
2002
|
5.0
|
|
2003
|
12.0
|
|
2004
|
28.5
|
|
2005
|
56.8
|
Construct a time-series plot that shows the insured catastrophic loss over time. What do you think causes the peaks in the graph?