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nikdorinn [45]
2 years ago
13

The cost of health insurance is $900 per month. The cost of an operation for a dramatic injury is $500,000. The chances of someo

ne needing such an operation are 47.3% over a twenty year period. From a purely financial point of view, it is better for you to buy the insurance. True or False
Mathematics
1 answer:
lord [1]2 years ago
3 0

Answer:

Yes, It is better to buy the insurance.

Step-by-step explanation:

Given Data:

Cost of Health Insurance for a month = 900$ per month

As 20 Years = 20*12 months = 240 months

Cost of Health Insurance for 20 years = 900 * 240

Cost of Health Insurance for 20 years = 216,000$

Insurance claim in case of having dramatic injury = Cost of Dramatic Injury = 500,000$

Insurance claim in case of having no dramatic injury = 0$

Chances of dramatic injury in 20 years = P(A) = 47.3%

Chances of not having dramatic injury in 20 years = P(B) = 100% - 47.3%

Chances of not having dramatic injury in 20 years = P(B) = 52.7%

Expected Insurance Claim for 20 years:

Expected Insurance Claim for 20 years = (Chances of having dramatic injury in 20 years * Insurance claim) + (Chances of not having dramatic injury * Insurance claim)

Expected Insurance Claim for 20 years = P(A) * 500,000$ + P(B) * 0$

Expected Insurance Claim for 20 years = 47.3% * 500,000 + 52.7% * 0

Expected Insurance Claim for 20 years = 236500 + 0

Expected Insurance Claim for 20 years = 236,500$

Expected Profit:

As expected insurance claim is 236,500$ is more than the cost of health insurance for 20 years and we are expected to have profit of 20,500$, thus we should take the health insurance.

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The same Honey is sold in two different size jars. Large jar= 540g for £4.10 Small jar= 360g for £2.81. By considering the amoun
Ray Of Light [21]

Answer:

From our calculations the large jar is the best value for money because a penny buys more honey

Step-by-step explanation:

<h2>In this problem we are expected to determine which purchase of honey is the cheapest ? large jar or small jar ?.</h2><h2 />

We will determine which has the best value for money using the quantity a pound can purchase.  

firstly for the large jar.

if £4.10 will purchase 540g of honey then,

   £1.00 will purchase xg

cross multiplying to find x will have

x=  \frac{1.00*540g}{4.10}

x= 131.7grams

Hence for the large jar a penny would buy 131.7g of honey

secondly for the small jar

if £2.81 will purchase 360g of honey then,

   £1.00 will purchase xg

cross multiplying to find x will have

x=\frac{1.00*360g}{2.81}\\x= 128.1gram

Hence for the small jar a penny would buy 128.1g of honey

4 0
3 years ago
Both sets of values have an average of 13. Is Set A's standard deviation smaller, larger, or about the same as Set B's? (Note: T
Softa [21]

Answer:

  Set A's standard deviation is larger than Set B's

Step-by-step explanation:

Standard deviation is a measure of variation. One way to judge the value of standard deviation is by looking at the range of the data. In general, a dataset with a smaller range will have a smaller standard deviation.

The range of data Set A is 25-1 = 24.

The range of data Set B is 18-8 = 10.

Set A's range is larger, so we expect its standard deviation to be larger.

__

The standard deviation is the root of the mean of the squares of the differences from the mean. In Set A, the differences are ±12, ±11, ±10. In Set B, the differences are ±5, ±3, ±1. We don't actually need to compute the RMS difference to see that it is larger for Set A.

Set A's standard deviation is larger than Set B's.

5 0
3 years ago
Value of x in log5x = 4logx5 is
olchik [2.2K]
Log5 x=4 logx 5
Ln x/ln5=4(ln5 / ln x)                                 logx z=ln x / ln z
least common multiple=ln5 * ln x

ln²x=4ln²5
√(ln² x)=√(4 ln²5)
ln x=2ln 5
x=e^2ln5=25

Answer: x=25.

4 0
2 years ago
Round the number 246.13687 to the nearest thousandth
sashaice [31]

Answer:

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Step-by-step explanation:

246.13687 ≈ 246.137 (rounded to the nearest thousandth)

7 0
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I think it is 55 because 85-30 = 55


Hope this helps! :D
4 0
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