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The homework assignment is imaged below. Please help me!!! Assume that the City of XYZ wants to institute and enforce a ne for public intoxication.

The homework assignment is imaged below. Please help me!!!

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Assume that the City of XYZ wants to institute and enforce a ne for public intoxication. It plans to hire individuals to patrol various areas in which public intoxication is a problem, especially on Broadway and Main streets. Alternative A: The city can hire 30 people per week at a cost of $300 each to patrol these streets every day ofthe week 'om 9:00 am. until 2:00 am. Alternative B: The city can hire 15 people per week at $150 each to patrol 'om noon until 1 1:00 pm. every day of the week. Alternative C: they can hire 10 people per week at $100 each to patrol om noon until 2:00 am. on weekends only. With Alternative A, the probability of apprehension is 1.0. With Alternative 2, the probability of apprehension is 0.5 and with the third alternative, the probability of apprehension is 0.2. The cost of each incidence of public intoxication is $300, primarily annoyance to drivers and families with small children. There are 25 people who will gain benets exceeding $300. A First, assume that offenders are risk neutral. Complete the empty cells in the table below. . Total Enforcement Probability of . Expected a... \" What would you advise the city to do in this case that is, how many people should be hired and WHY? B. Now assume that offenders are risk averse. The same three alternatives and other infomiation applies as in part A above. Complete the information in the table below. Alternative Probability of Enforce- Risk Total Cost apprehension Actual Expected Risk meat. Bearing Fine Fine Premium Costs Cost __'-__ ---______ - What would advise the city to do in this case that is, how many people should be hired and WHY

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