Finite Mathematics for Business, Economics, Life Sciences and Social Sciences

14th Edition

ISBN: 9780134677972

Author: Barnett

Publisher: PEARSON

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Counting Principles

In statistics, the counting principle can be said to be the concept in which the quantity of an item is determined. There can be a single item, or a group of items, or items that are related to each other. In every possible set of items, the quantity of …

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Textbook Question

Chapter 9.1, Problem 94E

Dental insurance. Refer to Problem 93. During the open enrollment period, university employees can switch between two available dental care programs: the low-option plan (LOP) and the high-option plan (HOP). Prior to the last open enrollment period, 40 % of employees were enrolled in the LOP and 60 % in the HOP. During the open enrollment program, 30 % of employees in the LOP switched to the HOP and 10 % of employees in the HOP switched to the LOP.

(A) Write the transition matrix.

(B) What percentage of employees were enrolled in each dental plan after the last open enrollment period?

(C) If this trend continues, what percentage of employees will be enrolled in each dental plan after the next open enrollment period?

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Chapter 9.1, Problem 93E

Chapter 9.1, Problem 95E

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Chapter 9 Solutions

Finite Mathematics for Business, Economics, Life Sciences and Social Sciences

Ch. 9.1 - (A) Refer to the transition diagram in Figure 1....Ch. 9.1 - Refer to Example 4. States D and G are referred to...Ch. 9.1 - An insurance company classifies drivers as...Ch. 9.1 - Find P4 and use it to find S4 for AAP=AA.8.2.3.7...Ch. 9.1 - Use P8 and a graphing calculator to find S8 for P...Ch. 9.1 - Refer to Example 4. At the end of each year the...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...Ch. 9.1 - In Problems 1-8, find the matrix product, if it is...

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Solution Summary: The author calculates the transition matrix P when in an open enrollment period, 30% of employees in the low option plan switched to high plan, and 102% in high option plans.

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