There is a 1 percent chance that you will have healthcare, Business Economics

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There is a 1 percent chance that you will have healthcare

There is a 1 percent chance that you will have healthcare bills of $100,000, a 19 percent chance that you will have healthcare bills of 10,000, a 60 percent chance that you will have healthcare bills of $500, and a 20 percent chance that you will have healthcare bills of $0. What will your expected insurance benefits be? Would you be willing to buy the complete insurance coverage if it cost $3,712? Explain?

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Business Economics: There is a 1 percent chance that you will have healthcare

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Business Economics: There is a 1 percent chance that you will have healthcare

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