(Answered) : Refer to Table 3-1 on page 57 (Hellman Textbook). Assume that the probability of arrest and the probability of conviction (given

Refer to Table 3-1 on page 57 (Hellman Textbook). Assume that the probability of arrest and the probability of conviction (given arrest) are 0.8 and 0.5, respectively. The expected sentence is 20 years. a). Calculate the values of punishment of individual A and B. b). Calculate the expected-punishment costs of individual A and B.
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Wa TABLE 3-1 STEAK HOUSE ROBBERY: GAINS VS. COstS Individual A Individual B $50,000 $50,000 Monetary Psychic $50,000 2,000 $52,000 Materials (gun) Psychic Time (1 month) Expected Punishmene Total costs If th 400 ychic pen- 900 32,400 $33,700 S 400 1,000 6,000 216,000 $223,400 Net (undiscounted) Expected-punishment