Question
In a given location, the cumulative number of COVID cases is close to 14,000 per 100,000. There have been 7,221 deaths and the population in
In a given location, the cumulative number of COVID cases is close to 14,000 per 100,000. There have been 7,221 deaths and the population in Nevada was 3,080,156 in 2019.
Let's suppose there are four highly simplified states of the world where a person can: not catch COVID, have a mild case, have a moderate case, or have a fatal case. Suppose an individual makes $59,072 if they are healthy. If they catch a mild case of COVID (p=8.5%), they miss 2 weeks of work because of quarantining, but they feel fine so that is the extent of their loss. If they catch a moderate case of COVID (p=5.25%), they miss 4 weeks of work and additionally they have $10,000 in medical bills. If they catch a fatal case (p=0.25%), their income is zero, though it is probably negative given the medical costs. Their utility function is u=m^.75
Round to a whole number. Do not include dollar signs or commas.
Income mild=
Net income moderate=
Expected income
Expected utility= _____ utiles
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