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In planning a trip to New Zealand six months in advance, you find that an airline offers the following two options. Option A: You can
In planning a trip to New Zealand six months in advance, you find that an airline offers the following two options.
Option A: You can buy a fully refundable ticket for $
Option B: You can buy a $ ticket, but you forfeit of the price if the ticket is canceled.
Describe your options in the events that you do and do not make the trip. How would you decide which ticket to buy?
Option A costs $ if you go and $ if you cancel, while option costs $ if you go and $ if you cancel.
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