Jerome parks downtown in front of the barber shop. The meter is expired and takes only quarters. Jerome looks in the barber shop to see how many customers are waiting. He understands that if the meter man comes along and notices his car parked by an expired meter, he will receive a ticket that will cost $10. He thinks for a moment and decides not to insert a quarter in the meter. What does this tell us about his estimate of the probability that a meter man will come by while he is in the barber shop? Your answer must complete the following sentence and you must justify your answer.
The probability of the meter man coming by is (more or less) than (a fraction inserted here).
I know this has to do with mathematical expectation and I know how to compute ME from all of my other hw questions, but I do not know where to start on this one...can somebody please help me out!