Refer to exercise 6.1. What would average spending be if low-risk patients were 92 percent of the

Question:

Refer to exercise 6.1. What would average spending be if low-risk patients were 92 percent of the population?

Exercise 6.1

An insurance market consists of high-risk patients, who average $40,000 in spending per year, and low-risk patients, who average $1,000 per year. Overall, low-risk patients represent 90 percent of the population. What would average spending be for a population like this?

Fantastic news! We've Found the answer you've been seeking!