Cost Benefit Analysis:
– APA format with a title page, 1 pages of content, and a References page if necessary.
– See the DOTs VSL paper at: https://www.transportation.gov/office-policy/transportation-policy/revised-departmental-guidance-on-valuation-of-a-statistical-life-in-economic-analysis
– Reference also the Excel spreadsheet in Canvas.
– Write an essay justifying a $10,000 investment in a twin axis flight envelope protection system for a Piper Seminole.
– You should explain why this investment is worthwhile, and explain how even a conservative estimate of the effectiveness of this mitigation still results in a safety Return on Investment after [x] years. You should also describe the DOT’s Value of Statistical Life, and the methodology behind this cost/benefit analysis.
