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Hatshy [7]
3 years ago
14

Suppose 1 in 200 pilots flying space-x aircraft dies each year while only 1 in 500 pilots flying subspace gliders dies each year

. moreover, the average salary of space-x pilots is $115,000, while the average salary of subspace glider pilots is $109,000. given this information, what is the implied statistical value of a life of a pilot?
a. $120,000
b. $1,200,000
c. $2,000,000
d. $6,000
e. $480,000
Business
1 answer:
weqwewe [10]3 years ago
7 0

The value of life is an economic value<span> used to quantify the benefit of avoiding death.  It is also referred to as the cost of life, a value of preventing death and implied a cost of preventing a fatality. </span>

In this problem, the value of life is the earning potential of a given person. The average salary of space-x<span> pilots is $115,000, while for the subspace glider pilots is $109,000. Given this information, the implied statistical value of a life of a pilot is a. $120,000. It is the amount from the choices with the nearest value.  

</span>

<span> </span>

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