4. A large company offers its employees two different health insurance plans and

Question

4. A large company offers its employees two different health insurance plans and two different dental insurance plans. Plan 1 of each type is relatively inexpensive, but restricts the choice of providers, the percentages of employees who have chosen the various plans: whereas plan 2 is more expensive but more flexible. The accompanying table gives Dental Plan 2 14% 35% Health Plan 2790 24% Suppose that an employee is randomly selected and both the health plan and dental plan chosen by the selected employee are determined. a. What is the probability that the selected employee has chosen the more restrictive plan of each type? b. What is the probability that the employee has chosen the more flexible dental plan?

Explanation / Answer

Answer to the question is as follows:

4.

a. P( more rest. each) = P( both dental and health plans are rest.) = .27

b. P( more flex. dental plan) = P(dental plan 2) = .14+.35 = .49

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