Multiple Choice
River Rafting Adventures of Iowa provides rafts and tour guides to tourists eager to ride the wild rivers of Iowa.Management has determined that there is one chance in a thousand of a client being injured or killed.Settlement of resulting lawsuits have an average cost of $650,000.Insurance with a $50,000 deductible is available.It covers the costs of lawsuits unless there is evidence of criminal negligence.Based on cost-benefit analysis,what is the most that the business should pay per client for the insurance?
A) $500
B) $650
C) $600
D) $50
Correct Answer:
Verified
Correct Answer:
Verified
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