Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

B A company provides health insurance benefits to all its employees through a group plan issued by DP Insurance. During the past year, 40 percent

B

A company provides health insurance benefits to all its employees through a group plan issued by DP Insurance. During the past year, 40 percent of the employees did not file any health insurance claims, 40 percent filed only a small claim, and 20 percent filed a large claim. Based on this experience, DP Insurance now is negotiating the corporation's premium payment per employee for the upcoming year. You are an analyst for the DP Insurance, and you have been assigned the task of estimating the sizes of the claims. Use the random numbers 0.8071,0.9228,0.5185,0.2802, and 0.0193to simulate whether each of five employees files no claim, a small claim, or a large claim. Based on your results, how many Small Claims are in this sample? Seleccione una: 1.

texted answers only no photos 0 2. 1 3. 2 4. 3 5. 4 6. 5

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managing Operations Across The Supply Chain

Authors: Morgan Swink, Steven Melnyk, Janet L. Hartley, M. Bixby Cooper

4th Edition

1260547639, 978-1260547634

More Books

Students also viewed these General Management questions

Question

What are the assumptions required of a multiple regression model?

Answered: 1 week ago

Question

What has been your desire for leadership in CVS Health?

Answered: 1 week ago

Question

Question 5) Let n = N and Y Answered: 1 week ago

Answered: 1 week ago