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Dovator [93]
3 years ago
7

The cost of health insurance is $1,200 per year. The cost of an operation for a dramatic injury is $500,000. The chances of some

one needing such an operation are 47.3% over a twenty year period. From a purely financial point of view, are you better off taking out the insurance or not? Choose the best answer.
Question options: No. The insurance company must make a profit.

Yes. The cost of the insurance is less than the probability cost of the operation

No. The probality of needing the operation is less than 50%.

Yes. Buying insurance is always a good idea.
Mathematics
1 answer:
SIZIF [17.4K]3 years ago
5 0

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= 20\times 1200= 240,00

probable  of cost operation= 0.473*500,00= $236,500

clearly the cost of insurance is less than the probable  cost of operation.

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In a recent year, the ACT scores for the math portion of the test were normally distributed, with a mean of 21.1 and a standard
Natali5045456 [20]

Answer:

a) P(X

And we can find this probability using the normal standard table or excel:

P(z

b) P(19

And we can find this probability with this difference:

P(-0.396

And in order to find these probabilities we can use tables for the normal standard distribution, excel or a calculator.  

P(-0.396

c) P(X>26)=P(\frac{X-\mu}{\sigma}>\frac{26-\mu}{\sigma})=P(Z>\frac{26-21.1}{5.3})=P(z>0.925)

And we can find this probability using the complement rule and the normal standard table or excel:

P(z>0.925)=1- P(Z

d) We can consider unusual events values above or below 2 deviations from the mean

Lower = \mu -2*\sigma = 21.1 -2*5.3 =10.5

A value below 10.5 can be consider as unusual

Upper = \mu +2*\sigma = 21.1 +2*5.3 =31.7

A value abovr 31.7 can be consider as unusual

Step-by-step explanation:

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".  

Part a

Let X the random variable that represent the scores of a population, and for this case we know the distribution for X is given by:

X \sim N(21.1,5.3)  

Where \mu=21.1 and \sigma=5.3

We are interested on this probability

P(X

And the best way to solve this problem is using the normal standard distribution and the z score given by:

z=\frac{x-\mu}{\sigma}

If we apply this formula to our probability we got this:

P(X

And we can find this probability using the normal standard table or excel:

P(z

Part b

P(19

And we can find this probability with this difference:

P(-0.396

And in order to find these probabilities we can use tables for the normal standard distribution, excel or a calculator.  

P(-0.396

Part c

P(X>26)=P(\frac{X-\mu}{\sigma}>\frac{26-\mu}{\sigma})=P(Z>\frac{26-21.1}{5.3})=P(z>0.925)

And we can find this probability using the complement rule and the normal standard table or excel:

P(z>0.925)=1- P(Z

Part d

We can consider unusual events values above or below 2 deviations from the mean

Lower = \mu -2*\sigma = 21.1 -2*5.3 =10.5

A value below 10.5 can be consider as unusual

Upper = \mu +2*\sigma = 21.1 +2*5.3 =31.7

A value abovr 31.7 can be consider as unusual

6 0
3 years ago
What is the area of the kite? (This was all that was given)
lesya [120]
The area of a kite is (1/2) * x * y, where x and y are the length of the two diagonals. In this case, the length of the two diagonals are 10 ft and 2 ft.
<span>Plug that in the equation, we get 1/2 * 2 * 10. We multiply the 2 and 10 first to get 20, that leaves us with 1/2 x 20, which is 10, so the area of this kite is 10 ft squared.</span>
5 0
3 years ago
Read 2 more answers
Someone please help me!!!!!
jolli1 [7]

Here is your answer wish you good luck

6 0
3 years ago
If 7x + 5 = -2, find the value of 8x
kolbaska11 [484]

Answer:

-8

Step-by-step explanation:

you add 5 to -7 to get -2

7 x -1 is -7

so x = -1

8 x -1 = -8

6 0
3 years ago
899 round to the nearest ten
algol [13]
900 because 9 is greater than 5 so it rounds to my answer.
6 0
3 years ago
Read 2 more answers
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