Assume that you have no medical insurance and you are aware that there is a small chance,
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Question:
Assume that you have no medical insurance and you are aware that there is a small chance, 0.02, of getting sick, which will cost you $100,000 in medical care fees. You are also aware that the only other outcome is for you not getting sick, which will cost you $0 in medical care fees.
What is your expected medical care fees? Show your calculation?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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