The correlation between wages and the probability of encountering a fatal injury while on the jobs can be used to calculate the value of
A) risk.
B) safety.
C) life.
D) injury.
E) work.

Question

Quizplus · Accepted Answer

The correlation between wages and the probability of encountering a fatal injury on the job is often used in economics to calculate the "value of a statistical life." This concept estimates how much people are willing to pay to reduce their risk of dying.

The Correlation Between Wages and the Probability of Encountering a Fatal