The value of the cumulative standardized normal distribution at 1.5x is 0.9332. the value of x is
1 answer:
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Answer:
yes. The cost of the insurance is less than the probability cost of the operation
Step-by-step explanation:
yes. The cost of the insurance is less than the probability cost of the operation
The cost of health insurance = $1200
Cost of dramatic injury operation= $500,000
chances of need of operation= 47.3% over a 20 years period
the amount of pay insurance after 20 years=
probable of cost operation= 0.473*500,00= $236,500
clearly the cost of insurance is less than the probable cost of operation.