3. Captain Mack's, a seafood restaurant, offers medical cost coverage for its employees. It's probability distribution...

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3. Captain Mack's, a seafood restaurant, offers medical cost coverage for its employees. It's probability distribution for medical costs for the coming year is as follow Medical costs = Calculate Captain Mack's expected claim costs for each of the following policies: Full insurance. $5000 deductible and a $200.000 limit. a. b. $0 with probability 0.9335 $2,000 with probability 0.05 $5.000 with probability 0.01 $10.000 with probability 0.005 $ 50,000 with probability 0.001 $500,000 with probability 0.0005 C. d. 20 percent coinsurance and $200,000 limit. $5,000 deductible, 20 percent coinsurance, and a $200.000 limit. 3. Captain Mack's, a seafood restaurant, offers medical cost coverage for its employees. It's probability distribution for medical costs for the coming year is as follow Medical costs = Calculate Captain Mack's expected claim costs for each of the following policies: Full insurance. $5000 deductible and a $200.000 limit. a. b. $0 with probability 0.9335 $2,000 with probability 0.05 $5.000 with probability 0.01 $10.000 with probability 0.005 $ 50,000 with probability 0.001 $500,000 with probability 0.0005 C. d. 20 percent coinsurance and $200,000 limit. $5,000 deductible, 20 percent coinsurance, and a $200.000 limit.

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a Full insurance Expected claim costs 0 x 09335 2000 x ... View the full answer