1. What is the ANNUAL premium for an individual who is 21 years old? 2. Between what two ages does the largest percentage change in premium occur? K1 DOK 1 3. How would you summarize the data in this chart in one sentence?

1. What is the ANNUAL premium for an individual who is 21 years old? 2. Between what two ages does the largest percentage change in premium occur? K1 DOK 1 3. How would you summarize the data in this chart in one sentence?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

How Does the Cost of Health Insurance Premiums Vary By Aqe?
NGPF
Next Gen
Pe sonal
Finance
Data Crunch
Insurance
Monthly Health Insurance Premium - Silver Tier Plan
Average Cost of a Silver Policy by Age
$1,200
$1,123
$1.050
$1,016
$900
$835
$750
$668
$600
$540
$457
$478
$450
$425
$374
$376
$300
$150
$0
21
25
30
35
40
45
50
55
60
64
Age
ValuePenguin
Monthly Premium
1. What is the ANNUAL premium for an individual
who is 21 years old?
2. Between what two ages does the largest
percentage change in premium occur?
рок 1
DOK 1
3. How would you summarize the data in this chart in one sentence?
DOK 2
4. If this same data were reported for car insurance, instead of health insurance, would the graph look similar?
Why or why not?
5. If this graph were to continue outward, for individuals over 64, describe what you think the bars that follow
would look like.
www.ngpf.org
Last updated: 7/8/20
Monthly Premium

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