There are two types of farming tractors on the market, the FT250 and the FT500 The only difference between the two is that the FT250 is more prone to accidents than the FT500 Over their lifetime, 1 in 10 FT250s is expected to result in an accident, as compared to 1 in 25 FT500s further, 1 in 1000 FT250s is expected to result in a fatal accident, as compared to only 1 in 5000 FT500s The FT250 sells for 125000 while the FT500 sells for 137000 At these prices, 2000 of each model are purchased each year What is the statistical value farmers place on avoiding a tractor accident What is the value of a statistical life of a farmer 3 There are two types of farming tractors on the market, the FT250 and the FT500 The only difference between the two is that the FT250 is more prone to accidents than the FT500 Over their lifetime, 1 in 10 FT250s is expected to result in an accident, as compared to 1 in 25 FT500s further, 1 in 1000 FT250s is expected to result in a fatal 1 accident, as compared to only 1 in 5000 FT500s The FT250 sells for 125000 while the FT500 sells for 137000 At these prices, 2000 of each model are purchased each year What is the statistical value farmers place on avoiding a tractor accident What is the value of a statistical life of a farmer

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There are two types of farming tractors on the market, the FT250 and the FT500. The only difference between the two is that the FT250

There are two types of farming tractors on the market, the FT250 and the FT500. The only difference between the two is that the FT250 is more prone to accidents than the FT500. Over their lifetime, 1 in 10 FT250s is expected to result in an accident, as compared to 1 in 25 FT500s. further, 1 in 1000 FT250s is expected to result in a fatal accident, as compared to only 1 in 5000 FT500s. The FT250 sells for 125000 while the FT500 sells for 137000. At these prices, 2000 of each model are purchased each year. What is the statistical value farmers place on avoiding a tractor accident? What is the value of a statistical life of a farmer?

3. There are two types of farming tractors on the market, the FT250 and the FT500. The only difference between the two is that the FT250 is more prone to accidents than the FT500. Over their lifetime, 1 in 10 FT250s is expected to result in an accident, as compared to 1 in 25 FT500s. further, 1 in 1000 FT250s is expected to result in a fatal 1 accident, as compared to only 1 in 5000 FT500s. The FT250 sells for 125000 while the FT500 sells for 137000. At these prices, 2000 of each model are purchased each year. What is the statistical value farmers place on avoiding a tractor accident? What is the value of a statistical life of a farmer