(Figure: Fire Prevention II) Elif and Mehmet own a home. Based on the figure provided, what will be the optimum number of actions (such as smoke detectors and sprinklers) to prevent fire in their house? Elif and Mehmet decide to purchase fire insurance that reduces the marginal benefit of taking precautions by $4 at every action level. How will the new policy affect the optimal number of precautions? 
Definitions:
Defective
Refers to a product or outcome that fails to meet the quality or performance standards set.
Estimate
A value or statistic calculated from sample data as an approximation of a population parameter.
Proportion
Proportion refers to the fraction or percentage of a total that is made up by a specific part or category.
Admission Standards
Criteria or requirements set by institutions or organizations for entry or acceptance, often used in context with schools or universities.
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