1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
scoray [572]
2 years ago
10

Farm workers in Oaks Farmville face a 1/85 probability of death at work and each of them receives a yearly wage of $159,106. Far

m workers in Valley Farm face a 1/127 of death at work. Assume that both kinds of job require the same level of skills, effort and that all workers have the same preferences and tastes. The values of an statistical life is computed to be $1,262,558. How much should the workers in the less risky job should get paid
Business
1 answer:
Lostsunrise [7]2 years ago
7 0

Answer:

$154,182.02

Explanation:

Probability of Farm workers in ( O.F ) facing death at work = 1/85 = 0.012

Probability of Farm workers in ( V.F ) facing death at work = 1/127 = 0.008

Value of a statistical life = $1,262,558

<u>Determine how much  the workers in less risky job should get paid </u>

The less risky job is working in Valley farm(V.F ) with a death probability of = 1/127 = 0.008

The more risky job is working in valley farm ( probability = 1/85 = 0.012 )

Yearly wage of risky job = $159106

payment for less risky job can be calculated using the relation below

statistical life = ( cost incurred to reduce risk) / ( percentage of risk to death reduced )  ---------------- ( 1 )

cost incurred to reduce risk =  yearly wage to high risk workers - yearly wage to low risk workers

 =  159106 - X

percentage of risk to death reduced = (probability of death to high risk workers) - ( probability of death to low risk worker )

= 1/85 - 1/127 = 0.0039

back to relation 1

1262558 = ( 159106 - X ) / ( 0.0039)

159106 - X = 1262558 ( 0.0039 )

hence X ( amount to be paid to workers in the less risky job )

X = 159106 - 4923.9762 = $154,182.02

You might be interested in
Fidelity Stereo Company has provided the following information regarding its activity-based costing system:Purchasing department
VikaD [51]

Answer:

a. $392, 265

Explanation:

Given that:

i. Purchasing department, overhead allocation rate is $77 per purchase order.

ii. Assembly department, overhead allocation rate is $5 per part.

iii. Packaging department, overhead allocation rate is $4 per unit.

iv. Direct material cost is $70 per unit.

v. Each stereo has 50 parts.

Total parts required = 1200 x 50

                                 = 60000

vi. 45 purchase order was required for 1200 stereos.

Thus:

i. $77 x 45 = $3465

ii. $5 x 60000 = $300000

iii. $4 x 1200 = $4800

iv. $70 x 1200 = $84000

Therefore,

total cost for 1200 stereos = $3465 + $300000 + $4800 + $84000

                                            = $392, 265

8 0
3 years ago
QUESTION 9 of 10: When naming a business, you should:
frutty [35]
Think of a catchy slogan to go with it
3 0
2 years ago
Read 2 more answers
If a commercial banking system has $200,000 in checkable deposits, actual reserves of $70,000, and a reserve ratio of 20 percent
Solnce55 [7]

Answer:

B. False

Explanation:

The banking system can expand the supply of money by a maximum of $1,000,000 ($200,000/0.2).

The maximum currency creation by the banking system is a function of the checkable deposits and the reserve ratio.  The formula for this is called the money multiplier, and is given as the checkable deposits divided by the reserve ratio.  With this multiplier factor, banks can increase the currency in circulation.  This is why central banks use the reserve ratio to monitor the supply of money in their economies.

4 0
3 years ago
When eric and david sit down with​ linda, eric complains that david is​ micro-managing him on the quantum electronics project. a
Aleksandr [31]
Transactional leadership

Transactional leadership is a leadership style that deals with the function of supervision, organization, and employee’s performance to achieve high job performance. Leaders who carryout this style focuses on specific tasks and use rewards and punishments to motivate followers.






3 0
3 years ago
Read 2 more answers
A subject property has a swimming pool (worth $5,000) and a three-car garage (worth $4,500). Comp property A has a pool only and
AnnyKZ [126]

Answer and Explanation:

The calculation of the adjusted price that could use for these two comps in a CMA is given below:

For Comp property A, the value of the garage should be

= $452,500 + $4,500

= $457,000

And, for comp property B, the value of the pool should be

= $446,000 + $5,000

= $451,000

In this way, it should be considered

4 0
2 years ago
Other questions:
  • One form of online vandalism is __________, in which individuals interfere with or disrupt systems to protest the operations, po
    8·1 answer
  • A. If Canace Company, with a break-even point at $259,000 of sales, has actual sales of $350,000, what is the margin of safety e
    15·2 answers
  • General cognitive ability is similar to which of the five leadership traits in this text
    5·1 answer
  • When a company controls all three phases of the film-industry production, distribution, and exhibition it is said to be:?
    11·1 answer
  • Latisha likes apple juice and orange juice equally well, however she normally drinks orange juice with her breakfast each day. A
    13·1 answer
  • All other things unchanged, a general decrease in the amount of government borrowing will typically: a increase interest rates.
    5·1 answer
  • A job-needs analysis:___________.1. Examines the ethics of each employee in the organization.2. Includes an assessment of how ea
    14·1 answer
  • You send out 20,000 emails. Of those, 6% are opened. Of those, 9% click on a link to register for something. Of those who clicke
    8·1 answer
  • You’re the purchasing manager for a large trucking company, worried about a spike in oil prices come January 15 when you typical
    8·1 answer
  • Wildhorse Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2022.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!