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A city council member is considering whether or not to vote for the installation of speed limit cameras on a treacherous highway that surrounds the
A city council member is considering whether or not to vote for the installation of speed limit cameras on a treacherous highway that surrounds the city. According to statistical studies, this traffic enforcement program would reduce the risk of fatal highway accidents from 4.1 to 0.93%. The yearly cost of operating the system is $400,000. Suppose ice road truckers outearn ordinary truckers by $120,000 per year. The risk of a job related fatal accident is 6% among ice road truckers and 4.9% among ordinary road truckers. Assume these figures reflect truck operators of similar age, education, abilites, etc. and that these characteristics are comparable to the average American. What is the net social benefit of installing the speed limit system, i.e. the benefits minus the costs? Round your answer to two decimals. ta $ 28000 Based on the previous answer, would it be optimal to vote in favor of the system? O Yes. O No. This is too difficult to assess. Ice road truckers have very different driving skills than the urban commuter. A city council member is considering whether or not to vote for the installation of speed limit cameras on a treacherous highway that surrounds the city. According to statistical studies, this traffic enforcement program would reduce the risk of fatal highway accidents from 4.1 to 0.93%. The yearly cost of operating the system is $400,000. Suppose ice road truckers outearn ordinary truckers by $120,000 per year. The risk of a job related fatal accident is 6% among ice road truckers and 4.9% among ordinary road truckers. Assume these figures reflect truck operators of similar age, education, abilites, etc. and that these characteristics are comparable to the average American. What is the net social benefit of installing the speed limit system, i.e. the benefits minus the costs? Round your answer to two decimals. ta $ 28000 Based on the previous answer, would it be optimal to vote in favor of the system? O Yes. O No. This is too difficult to assess. Ice road truckers have very different driving skills than the urban commuter
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