John is willing to work at a job that has a 0.02% higher probability of death compared to his current job for $1,800 more per month. The value of his statistical life is ________.
A) $1,800
B) $3,600
C) $90,000
D) $9,000,000

Question

Quizplus · Accepted Answer

The value of statistical life is calculated by dividing the increase in income by the increase in the probability of death, then multiplying by 100 to adjust for the percentage. Here, it's $1,800 / 0.0002 = $9,000,000.

John Is Willing to Work at a Job That Has