Suppose the cost to erect a tornado siren in a small town is $15,000. In addition, suppose the value of a human life is $10 million. By what percentage would the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren?

a. By at least 0.015 percentage points.
b. By at least 0.15 percentage points.
c. By at least 1.5 percentage points.
d. By at least 5 percentage points.

b. By at least 0.15 percentage points.

Explanation:

Given that the value of each human life in a small town is $10 million = $10000000, and the cost to erect a tornado siren is $15000.

Therefore in other to calculate the percentage the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren, we need to divide the cost needed to erect the tornado siren by the cost of a human life.

Therefore, the percentage would the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren = ($15000)/$10000000 × 100 = 0.15%

At least 0.15 % is needed to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren

answer; /// i believe its ; research and content manager;