Problem
1. Suppose there is a 1 in 1,000 chance that a snake will bite you while you are walking to class, and if you are bitten, you will certainly die unless you are carrying antivenin with you at the time. What is the most you would be willing to pay for a dose of antivenin? What does that tell you about your valuation of a statistical life?
2. Describe a weakness of the CVM method. What makes this method attractive despite potential flaws?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.