A large company offers Us employees two different health insurancer plans and tw

Question

A large company offers Us employees two different health insurancer plans and two different dental nsurance plans Plan 1 of each type is relatively expensive. but restricts the choice of providers, whereas plan 2 is more expensive but more flexible The accompanying table gives the percentages of employees who have chosen the various plans Suppose that an employee ts randomly selected and both the health plan and dental plan chosen by the selected employee are determined What are the four simple events' What ts the probability that the selected employee has chosen the more restrictive plan of each type What ts the probainlny tliat die employee lias chosen die more flexible dental plan

Explanation / Answer

Let Health plan be denoted as H and Dental plan be denoted as D

a.) The four sample plans are { (H1,D1) , ( H1,D2), ( H2,D1) ,(H2,X2) }

b.) Prob = Percentage of employees who choose the more restrictive plan of each type/ Total percentage of employees

Prob = 27/100 = 0.27

c.) P( the employee has chosen more flexible Dental plan)

= P( the employee chooses flexible Dental plan and restrucihealth plan ) + P( he chooses both flexible plans)

= (14/100) + ( 35/100)

= 0.49

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