Parking You are considering whether to park legally or ille gally and decide to be rational about it. Use negative numbers to represent costs in your expected-value calculations.

(a) Suppose that a parking ticket costs $30 and that the probability of getting a ticket if you park illegally is 1/5. What is the expected value of parking illegally?

(b) Assuming that you use expected-value calculations as a guide in life, would it be worth paying $5 in order to park legally? It is perfectly possible to compute expected values when there is more than one state with a non-zero payoff.