Question

Help pls don not under stand

Answer 1

The expected value of health care without insurance is $437.25.

The expected value of health care with insurance is $1,636.40.

What are the expected values?

The expected values can be determined by multiplying the respective probabilities by its associated costs.

The expected value of health care without insurance = (1 x 0) + (0.32 x 1050) + (0.45 x $225) = $437.25.

The expected value of health care with insurance = (1 x 1580) + (0.32 x 75) + (0.45 x $72) = $1,636.40.

To learn more about multiplication, please check: brainly.com/question/13814687

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