A. A large compuny efors its empleyees two different heath insurance plans and t

Question

A. A large compuny efors its empleyees two different heath insurance plans and twe e denal insurance plans Plan 1 of each type is relatively inexpensive, bul restricte the choice of peoviders, whereas plan 2 is more expensive but more flexible. The accompanging tabile gives the g table gives the pecentages of emplayees who have chosen the various of 30 points Deatal Plan Health Plan 27% 24% 14% 35% | Suppose thet an employee is mndomly selectod and both the health plan and dental plan chosen by the selected employee are detemined It is the probability thx the selected employee has chosen more restrictive plans of each type? wla s restrictive plans? b. mbabity that the selected employee has chosen at least one of the c. Ifan employee has chosen expensive health plan, what is the probability that the employee select expensive dental plan too?

Explanation / Answer

Ans:

a)P(restrictive plan of each type)=P(restrictive health and restrictive dental plan)

=P( 1 and 1)=0.27

b)P(atleast one of the restrictive plan)=1-P(none of the restrictive plan)

=1-P(both expensive plans)=1-P(2 and 2)

=1-0.35=0.65

c)P(expensive dental plan/expensive health plan)=P(expensive health and expensive dental plan)/P(expensive health plan)

Now ,P(expensive health plan)=0.24+0.35=0.59

So,

P(expensive dental plan/expensive health plan)=0.35/0.59=0.5932

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