Exhibit 9-1
a Farmer Must Decide Whether to Take Protective

question 6

Essay

Exhibit 9-1
A farmer must decide whether to take protective action to limit damage to his grapefruit crop in the event that the overnight temperature falls to a level well below freezing. If the temperature drops too low he runs the risk of losing his entire crop, valued at $75,000. Based on the National Weather Service, the probability of such a temperature drop is 60%. He can insulate his crop by spraying water on all the trees, which will cost $20,000. This action might succeed in protecting the crop, with the following $$\begin{array} { l l } \text { Probability } & \text { Damage } \\0.30 & \$ 0 \\0.15 & \$ 5,000 \\0.10 & \$ 10,000 \\0.15 & \$ 15,000 \\0.30 & \$ 20,000\end{array}$$
-Refer to Exhibit 9-1.Suppose the farmer is uncertain about the reliability of the National Weather Service forecast.If he thinks the probability of a freeze occurring could be anywhere between 40% and 80%,would that change his decision

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Definitions:

Jigsaw Classroom

An educational approach designed to minimize racial conflict and increase positive educational outcomes by having students from different backgrounds work together to complete a task.

Superordinate Goal

A shared goal that can only be achieved through cooperation among individuals or groups often used to resolve conflicts.

Racial Backgrounds

The various ethnic groups and cultures a person originates from, which can influence aspects of their identity and experiences.

Instrumental Support

A type of social support involving practical or material help, such as providing resources or assistance in completing tasks.