Suppose that Kim is offered not a "weather detector" but a "sunshine detector" to help her make a decision on the party problem—when the weather is actually going to be sunny, the detector is 99%...


Suppose that Kim is offered not a "weather detector" but a "sunshine detector" to help her make a decision on the party problem—when the weather is actually going to be sunny, the detector is 99% likely to indicate Sun, but when the weather is going to be rainy, the detector is equally likely to indicate Sun or Rain. Which of the following is closest to the most Kim should be willing to pay to acquire this detector?


a. $0 c. $5


b. $3 d. $10



May 04, 2022
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