Your Health Insurance Company Charges a Premium of $2,000 above the Actuarially Fair PremiumInsuranceProbability ofStaying HealthyProbability ofGetting SickLost Income ifYou Get SickIncomeIncome if YouIncome if YouGet SickOptionsStay HealthyExpected ValueNo InsuranceS100,0007 in 103 in 10$10,000Full InsuranceS100,0007 in 103 in 10S10,000Point A = Your Risk AversenessUpIncome$95,500What Premium does the health insurance company charge?Utility

GivenThe probability of staying healthy =710=0.7The probability of getting Sick =310=0.3 The income…

Answered: Your Health Insurance Company Charges a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Scratch Off Lottery Tickets Your friend Phil, asks you what you think about a new scratch-off lottery game. It costs $10 to play this game, There are two outcomes for the game (win, lose) and the probability that a player wins a game is 60%. A win results in $15, for a net win of $5 ($15 minus the $10 paid to play). The probability distribution for x (the amount of money a player wins or loses) in a single game is as follows: Fi x > Net Money Won or Lost P(x) → Probability Win 0.60 Lose 24 0.40 Using the information in the table, complete the following 1. Interpret the table. There is a chance of winning and a chance of losing 2. What is the expected value of x? E(x) = 3. What is the standard deviation? o = (Round to then nearest hundredth). Question Source: Illustrative Mathematics https://www.illustrativemathematics.org/content- standards/HSS/MD/A/2/tasks/1217 Check
The formal definition of "probability" in statistics is: The appearance of truth a statement or event bears in the light of present evidence Chance, hap, or luck, regarded as a cause of events and changes in people's affairs A number measuring deviation from expectation in future events The degree at which an event is lacking any obvious principle of organization The proportion of times an event occurs when the experiment is repeated independently, indefinitely
Plot the probability curve and describe it.
Lesson 10 Q7 Calculate the expected value from the following probability distribution.
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Hi! I pretty much don't understand these problems that were presented on my Statistics class
Contingency Tables and Conditional Probability: Homework and Passing a Course A teacher categorized students by whether they regularly completed their homework (or not) and whether they passed the course (or not). The data are in the table below. Completed Homework Did not Complete Homework Passed the Course Did not Pass the Course Total % 26 4 30 A student from the class is randomly selected. Determine the following probabilites. Enter your results as percents rounded to two decimal places. What is the probability a student passed the course given that they completed their homework? % 5 14 19 What is the probability a student passed the course given that they didn't complete their homework? % Total 31 18 49 % What is the probability a student completed their homework given that they passed the course? Submit Question What is the probability a student didn't complete their homework given that they didn't pass the course?
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Use the given information to find the number of degrees of freedom, the critical values xf and xé, and the confidence interval estimate of o. It is reasonable to assume that a simple random sample has been selected from a population with a normal distribution. Platelet Counts of Women 98% confidence; n= 26, s= 65.3.
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