If someone could please answer questions 1-6 clearly. And then provide a thorough and clear explanation as to why that is correct. Thank you!

PROBLEM SET 4 1. Consider a consumer with a medical bill of $1,000. He has a $250 deductible and a 10 percent coinsurance rate on all expenses over $250. His "out-of-pocket" liability for this bill is: a. $100. b. $250. C. $325. d. $500. 2. Consider a consumer with a medical bill of $10,000. He has a $250 deductible and a 10 percent coinsurance rate on expenses over $250, and a "stop loss" on expenses over $3,000. His "out-of-pocket" liability for this bill is: a. $100. b. $250. C. $325 d. $525. 3. Calculate the expected return in a game where Sam wins $1 with the probability of 2 , $5 with the probability of -, and $0 with the probability of . a. $0 b. $1- C. d. $3 4. Calculate the expected return in a game where Duane wins $1 with the probability of 0.25, $10 with the probability of 0.25, and So with the probability of 0.50. a. $0.00. b. $1.00. C. $2.75. d. $5-00. 5. In Deal or No Deal what is the fair amount that one should be willing to pay for the following set of suitcases with equal probability: $0.1, $300, $100,000, $500,000, $1,000,000 (For those who have not watched Deal or No Deal: https://www.youtube.com/watch?v=5_uuh3Xsylx https:/ /www.youtube.com/watch?v=LbUgoEFThVS Did Laura make a good move?) a. $75,000. b. $106,000. c. $221,000. d. $320,060 6. The fundamental rule for insurance coverage is: a. if one is ill, he or she doesn't need insurance. b. one should equate expected marginal benefits with expected marginal costs. C. one should equate expected average benefits with expected average costs. d. one should carry as much insurance as one can afford