Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Jim accidentally runs over Mary in the parking lot. Mary was walking to her car (maybe she wasn’t paying really close attention to traffic), Jim didn’t look both ways, so he ran her right over. (Mary will fully recover, but without any insurance, she is liable for the retail medical bills.) Jim claims that he did not intend to hurt Mary, and Mary concurs. Assume Mary’s injuries are valued at one million ($1,000,000).

1. If the law of the jurisdiction is simple (pure) negligence, Jim is deemed to be 65% negligent and Mary is deemed to have been 35% negligent, how much will Jim pay?

2. If the law of the jurisdiction is contributory negligence, Jim is deemed to be 95% negligent and Mary is deemed to have been 5% negligent, how much will Jim pay?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91406784

Have any Question?


Related Questions in Business Economics

Questionuse the data in the table which lists drive-thru

Question: Use the data in the table, which lists? drive-thru order accuracy at popular fast food chains. Assume that orders are randomly selected from those included in the table. Restaurant A-  Order accurate - 331 Orde ...

Describe two factors contributing to the gender pay gap

Describe two factors contributing to the gender pay gap. Write one equation or one graph for each. What policies could the government pursue to address each factor? Should the government do so?

Patients are randomly assigned to one of the four treatment

Patients are randomly assigned to one of the four treatment groups to cure a disease: 1) Control 2) Experimental 1 3) Experimental 2 4) Experimental 3 There are 200 patients in the trial; 20 are randomly assigned to the ...

Has globalization increased or decreased social and

Has globalization increased or decreased social and economic disparities around the globe? Can you please provide details.

Determine the sample size n needed to construct a 99

Determine the sample size n needed to construct a 99?% confidence interval to estimate the population mean when σ=24 and the margin of error equals 9.

Suppose a random variable y has a mean ey 12 and standard

Suppose a random variable Y has a mean E(Y ) = 12 and standard deviation SD(Y ) = 4. Suppose we define a new random variable Z = 3Y + 10. a. Determine the expected value (mean) of Z. b. Determine the standard deviation o ...

Suppose a consumer is trying to make a choice over the

Suppose a consumer is trying to make a choice over the consumption of two goods: x and y. Px = 3, Py = 4 and the income is equal to 50. Assume that the government distributes some stamps that are good to buy 5 units of g ...

A quality controller selects 8 items at a predefined

A quality controller selects 8 items at a predefined interval and found that 75% of the time the item was non-defective. Let "S" represent the occurence of a non defective item. Assuming that this experiment is Binomial: ...

You want to you want to estimate the mean weight of

You want to you want to estimate the mean weight of quarters in circulation. A sample of 30 quarters has a mean weight of 5.649 grams in a standard deviation of 0.066 gram. Use a single value to estimate the mean weight ...

Suppose a retailer claims that the average wait time for a

Suppose a retailer claims that the average wait time for a customer on its support line is 179 seconds. A random sample of 57 customers had an average wait time of 169 seconds. Assume the population standard deviation fo ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As