SPRINT TO LIFE QUESTIONS Your firm has been hired by Sprint to Life to provide an analysis of the situation. Write a report using the report writing guide from the course website. Before beginning to write the report, what issues must be addressed in the case? Does your firm require additional information? If so, what is the additional information needed? Sprint to Life is also concerned with input on the following questions:

Q. 2. Suppose it costs $2,000 to buy a defibrillator. Find the expected value of owning a defibrillator if there is a 4% probability that Sprint to Life will lose a lawsuit regarding its operation, with each lawsuit resulting in Sprint to Life being liable in the amount of $750,000.

Q. 3. If the age of an initial cardiac incident (heart attack or sudden cardiac arrest) is normally distributed with a population standard deviation of 11.6 years, find the average age at which people will experience their first cardiac incident, given that 14.95% of all initial cardiac incident victims are younger than 51.

Q. 4. Suppose that over the next several years, there will be 50 cardiac incidents at Sprint to Life. Without a defibrillator, 15 victims will die before paramedics arrive. With a defibrillator, there is an 80% probability of saving a victim who would die without it. However, there is a 3% probability that improper use of the defibrillator will kill a victim who would have otherwise lived. Find the expected number of lives saved by the defibrillator.

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