The risk of death on route

Reference no: EM13720147

Suppose you may choose between two routes in your commute by automobile to work each day. Over a year, the risk of death on route A is 0.0001 while the risk of death on route B is 0.0002. Because route B takes 30 hours of commuting time a year, compared with 80 hours a year on route A, assume you choose route B. You value commuting time at $10 per hour. Use this information to infer the value you place on your life.

Reference no: EM13720147

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