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Winston used his past health history and Information about his doctor visits to create this table to compare health costs with and without
insurance
Cost without Insurance
Description of Service
Probability of Needing
the Service
Cost with Insurance
Plan
Plan
100%
$1,580
$0
annual premium
45%
$125
$1,750
five doctor visits
7596
$75
medication
$325
What is the expected value of each option?
The expected value of health care without insurance is $
The expected value of health care with Insurance is $

Sagot :

Answer:

W/O insurance: 235.50

with insurance: 1597.94

Step-by-step explanation:

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