exhibits a better fit to the empirical
sample data than the binomial model. In view of growing national
interest in managing the risk of the rail transport of petroleum
crude oil and other types of chemicals, this research can provide
new methods to improve the accuracy and reliability of railroad
transportation risk analysis. In the next step, the methodology
developed in this paper will be expanded to a larger integrated risk
management framework for improving the safety of rail transport
of hazardous materials.