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Expected Value of Pedestrian Waiting

The town of Smallville is considering a new pedestrian crossing system for a particular stretch of road. A red/green light controls when pedestrians cross the road. Pedestrians arrive on the left and right sides of the road, and when their light turns green, they cross the road. The system works as follows: the pedestria

Accounting: Investment Advice and Taxes

Bernie and Pam Britten are a young married couple beginning careers and establishing a household. They will each make about $50,000 next year and will have accumulated about $40,000 to invest. They now rent an apartment but are considering purchasing a condominium for $100,000. If they do, a down payment of $10,000 will be requi