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3. In the US -there are 200 cardiac arrests per year on the 5,000 passenger aircrafts in service instaling an automated external defibrillator (AED) on

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3. In the US -there are 200 cardiac arrests per year on the 5,000 passenger aircrafts in service instaling an automated external defibrillator (AED) on a single plane and training crew to use it costs $3,000 annually if a plane has an AED on board then 16% of those who have cardiac arrest survive (where survival means resuscitated, sent to hospital and then discharged from hospital and for simplicity we ignore hospital treatment costs) compared to a 1% surral rate if no AED is on the plane. survivors live on average 10 years - on average survivors enjoy a quality of life of 0.5 (on a 0-1 scale) - a year of life in perfect health is valued to be worth $80,000. (a) Calculate the cost of AEDs per year of life saved. (b) Calculate the cost of AEDs per QALY (c) Does a cost-benefit analysis support installing AEDs on U.S. aircraft? Explain your

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