Suppose you can take one of two summer jobs. In the first job as a flight attendant, with a salary of $5,000, you estimate the probability you will die is 1 in 40,000.

Alternatively, you could drive a truck transporting hazardous materials, which pays $12,000 and for which the probability of death is 1 in 10,000. Suppose that you're indifferent between the two jobs except for the pay and the chance of death.

If you choose the job as a flight attendant, what does this say about the value you place on your life?

Answer rating: 100% (QA)

Step 1 Calculate the value of a flight attendant using the given probability of ... View the full answer