Question 1185318
i get the following, based on the information provided.


the information provided is:


<pre>      description of service   probability of needing   cost with insurance   cost without insurance
           
           annual premium                  100%                   1580                  0
           5 doctor visits                 45%                    125                   175
           medications                     75%                    75                    75

</pre>


the cost with insurance is 100% * 1580 + 45% * 125 + 75% * 75 = 1692.5


the cost without insurance is 100% * 0 + 45% * 1750 + 75% * 325 = 1031.25


i believe your forgot to include the cost of the premium in your with insurance cost.


you have:


cost with insurance = 169.25
cost without insurance = 1031.25


it looks to me like you did it right, but messed up the cost with insurance somehow.


instead of 1692.50,  you have 169.25


what you have is 1692.5 divided by 10 = 169.25, which is incorrect.


multiplying by percents can be tricky.


when youi multiply by percent, you are multiplying by the percent number divided by 100.


multiplying by 100% is the same as multiplying by 100/100 = 1, so 100% * 1580 is equal to 1580.


the percent in 100% means 100 per 100.
if you want per 1, you have to divided by 100.


your mistake could have been a typo, or it could have been an error in the calculation.


either way, the correct answer is 1692.5, not 169.25.