There are two types of vans on the market, the Cheap and the Save. The only difference between the two is that over their lifetime, 1 in 10 Cheaps is expected to result in an accident, as compared to 1 in 25 Saves. Further, 1 in 1,000 Cheaps is expected to result in a fatal accident, as compared to only 1 in 5,000 Saves. The Cheap sells for $125,000 while the Save sells for $137,000. At these prices, 2,000 of each model are purchased each year. What is the statistical value drivers place on avoiding an accident? What is the value of a statistical life of a driver?
https://assignmentsonline.org/wp-content/uploads/2022/02/Assignment-online_logo.png 0 0 admin https://assignmentsonline.org/wp-content/uploads/2022/02/Assignment-online_logo.png admin2022-02-18 19:28:092022-02-18 19:28:13There are two types of vans on the market, the Cheap and the Save