Business, 01.10.2021 22:00 arlettehl1011

1) Calculate the expected fine based on the given values and determine if speeding would be economically worth it.
You are driving from Largo High School to the University of Florida. The entire route is 150 mi and you
can average 60mph at the speed limit. If you were to average 10mph over the speed limit, would it be
economically beneficial? You will pass one police officer and she will pull everyone over that is doing 10
mph over, but is only doing radar 50% of the time. She is a very understanding cop and is only 25% likely
to give you a ticket. A high fine will run you $300, but the low will be $100. Your time is worth $15/hr.

Answers: 1

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1) Calculate the expected fine based on the given values and determine if speeding would be econom...