Whitewater Rapids provides canoes to tourists eager to ride ...

[eruditmonkey@yahoo.com]

Whitewater Rapids provides canoes to tourists eager to ride Whitewater river's rapids. Management has determined that there is one chance in a thousand of a customer being injured or killed. Settlement of resulting lawsuits has an average cost of $850,000. Insurance with a $100,000 deductible is available. It covers the costs of lawsuits, unless there is evidence of criminal negligence. Based on cost-benefit analysis, what is the most that the business should pay for the insurance?
◦ $100
◦ $500
◦ $750
◦ $850

[Chou]

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[eruditmonkey@yahoo.com]

Thank you!

[Chou]

Always glad to help...