22
Type the correct answer in each box.
Winston used his past health history and information...
Mathematics, 20.04.2021 20:30 SandyRiverty
22
Type the correct answer in each box.
Winston used his past health history and information about his doctor visits to create this table to compare health costs with and without
insurance.
Description of Service
Probability of Needing
the Service
Cost with Insurance
Plan
Cost without Insurance
Plan
100%
$1,580
$0
annual premium
five doctor visits
45%
$125
$1,750
medication
75%
$75
$325
What is the expected value of each option?
The expected value of health care without insurance is $
The expected value of health care with insurance is $
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