Question

Worldwide Oil Transport Incorporated is considering hiring a small oil spill response team to follow one of their ships from Alaska to Russia. • The oil spill response team would cost 50 thousand dollars but would save an estimated 2500 thousand dollars in the event of an oil spill. The ship is estimated to have a 1% chance of generating an oil spill. • Find the expected value of hiring the oil spill response team

Answer 1

Step-by-step explanation:

BECAUSE

Worldwide Oil Transport Incorporated is considering hiring a small oil spill response team to follow one of their ships from Alaska to Russia. • The oil spill response team would cost 50 thousand dollars but would save an estimated 2500 thousand dollars in the event of an oil spill. The ship is estimated to have a 1% chance of generating an oil spill. • Find the expected value of hiring the oil spill response team

Answer 2

hi just needed points sorry