In United States airspace, the average number of commercial aircraft in the sky on an average morning is 4000. There are another 16,000 planes on the ground. Aerospace company Rockwell-Collins developed what it calls a “digital parachute,” a panic-button technology that will land any plane in a pinch at the closest airport, no matter what the weather or geography, and without the help of a pilot. The technology could be applied where a pilot is no longer capable of flying the plane, or is panicked and confused about what to do in an emergency. Assume the cost of retrofitting 20,000 commercial airplanes is $55,000 each and the plane stays in service for 15 years. The technology could save an estimated average of 40 lives per year; the value of a human life is estimated at $4,000,000. Use an interest rate of 8% per year to determine the B/C ratio
In United States airspace, the average number of
commercial aircraft in the sky on an average
morning is 4000. There are another 16,000 planes on the ground. Aerospace company
Rockwell-Collins developed what it calls a “digital
parachute,” a panic-button technology that
will land any plane in a pinch at the closest airport,
no matter what the weather or geography,
and without the help of a pilot. The technology
could be applied where a pilot is no longer capable
of flying the plane, or is panicked and confused
about what to do in an emergency. Assume
the cost of retrofitting 20,000 commercial airplanes
is $55,000 each and the plane stays in
service for 15 years. The technology could save
an estimated average of 40 lives per year; the
value of a human life is estimated at $4,000,000.
Use an interest rate of 8% per year to determine
the B/C ratio
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