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A road between Yellowknife, NWT and Uranium City, Saskatchewan will have a most likely construction cost of $7 million per mile. Doubling this cost is
A road between Yellowknife, NWT and Uranium City, Saskatchewan will have a most likely construction cost of $7 million per mile. Doubling this cost is considered to have a probability of 15%, and cutting it by 25% to have a probability of 30%. The government uses an interest rate of 8% for these types of projects, and the road should last 40 years. Calculate the expected value of the equivalent annual construction cost per mile
Please answer in millions $$ per mile with 3 decimal places and without dollar sign
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