*2. The Golden family have just moved to a location where earthquakes are known to occur. TIley...
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*2. The Golden family have just moved to a location where earthquakes are known to occur.
TIley must decide whether they should build their house according to the high-standard earthquake code. TIle construction cost using the earthquake code is $850,000; otherwise, a comparable house can be constructed for only $350,000. If an earthquake occurs (and there is a probability of .001 it might happen), a substandard home will cost $900,000 to repair.
Develop the lottery associated with this situation, assuming a utility scale from 0 to 100.
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