Estimate of the annual benefits associated with a new whirly

Reference no: EM13189225

Imagine that a contingent valuation study is done asking residents about their willingness to pay for a new Whirlydome in the twin cities metropolitan area, which has about 400,000 households. The households that were told the dome would cost them $400 per year had a probability of approval of 5%. Those that were told the dome would cost them $200 per year had a probability of approval of 40%. Those that were told that the dome would cost them $50 per year had a probability of approval of 80% and those that were told that the dome would cost them $10 per year had a probability of approval of 95%. Using these figures, calculate an estimate of the annual benefits associated with a new Whirlydome.

Reference no: EM13189225

Questions Cloud

How much money can a person afford to borrow : How much money can a person afford to borrow at 8% interest compounded semiannually if the loan is to be repaid at half-year intervals for 10 years with $1000 payments per half-year?

Estimate the annual active use value of the area : Imagine that you are trying to value a particular piece of wilderness that people use for recreational hiking and cycling. While this area has no entrance fee, statistics have been kept on who visits and how frequently they visit the area.

Find the thickness of one coin to the nearest thousandths : there are 312 coins of the same time in two stacks.one stack of coins is 15 inches tall.the other stack is 9 inches tall. find the thickness of one coin to the nearest thousandths of a inch.

Drug is diffusing from the surface of a spherical pill : A drug is diffusing from the surface of a spherical pill through a radial shell with thickness d1. The radius of the pill is r1. The drug concentration at the pill surface is c1 and the concentration outside the shell is c2.

Estimate of the annual benefits associated with a new whirly : Imagine that a contingent valuation study is done asking residents about their willingness to pay for a new Whirlydome in the twin cities metropolitan area, which has about 400,000 households. The households that were told the dome would cost them..

What is the wholesale price per computer : The marketing research department for a company that manufactures and sells "notebook" computers established the following price-demand and revenue functions.

Create a project transition plan : When a project is ready to be deployed, a transition plan can help the transfer of ownership from the project team to the customer or organization that requested the project.

Predict the average global surface temperature : Use the equation to predict the average global surface temperature in 2070.

Analyze and determine crime rate-crime index-recidivis rates : Explain the process associated with moving an accused through the criminal justice system. Analyze and determine crime rate, crime index, and recidivism rates

User Account

All Pages