Question 1In considering medical insurance for a certain operation, let X equal the amount (in dollars) paidfor the doctor and let Y equal the amount paid to the hospital. In the past, the variances havebeen Var(X) = 8,000, Var(Y) = 10,000, and Var(X + Y) = 20,000. Due to increased expenses,it was decided to increase the doctor's fee by $500 and increase the hospital charge Y by 10%.Calculate the variance of X + 500+ (1.1)Y, the new total claim. (Hint: Note it is not mentionedif X and Y are independent or not).

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Answered: Question 1 In considering medical…

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter7: Applying Fractions

Section7.2: Proportions

Problem 47WE

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