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A co-pay is a fixed amount that the insured has to pay for a covered medical service and the insurer takes care of the rest of the amount. The co-pay amount depends on the nature of the treatment and medications. If patient A's policy has a co-pay clause of 10% and A's claim is Rs 500,000, then A will have to pay Rs 50,000. A study was recently performed by a hospital to determine how much its patients were asked to contribute as co-payment based on the size of their total medical-bills. The insurance claims were settled at amounts equal to or less than the total bill amount. A random sample of bills and resulting co-payments were collected. These data (In thousands of Rupees) are shown as follows: Total Bill amount Co-payment amount 126 19 58 11 86 20 20 3 59 4 120 30 14 2 17 4 26 2 74 16 Based upon these data, what is the approximate predicted value for co-payment amount, if the total bill is Rs. 100,000?

A co-pay is a fixed amount that the insured has to pay for a covered medical service and the insurer takes care of the rest of the amount. The co-pay amount depends on the nature of the treatment and medications. If patient A's policy has a co-pay clause of 10% and A's claim is Rs 500,000, then A will have to pay Rs 50,000. A study was recently performed by a hospital to determine how much its patients were asked to contribute as co-payment based on the size of their total medical-bills. The insurance claims were settled at amounts equal to or less than the total bill amount. A random sample of bills and resulting co-payments were collected. These data (In thousands of Rupees) are shown as follows: Total Bill amount Co-payment amount 126 19 58 11 86 20 20 3 59 4 120 30 14 2 17 4 26 2 74 16 Based upon these data, what is the approximate predicted value for co-payment amount, if the total bill is Rs. 100,000?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A co-pay is a fixed amount that the insured has to pay for a covered medical service and the insurer takes care of the rest of the amount. The co-pay amount depends on the nature of the treatment and medications. If patient A's policy has a co-pay clause of 10% and A's claim is Rs 500,000, then A will have to pay Rs 50,000. A study was recently performed by a hospital to determine how much its patients were asked to contribute as co-payment based on the size of their total medical-bills. The insurance claims were settled at amounts equal to or less than the total bill amount. A random sample of bills and resulting co-payments were collected. These data (In thousands of Rupees) are shown as follows: Total Bill amount Co-payment amount 126 19 58 11 86 20 20 3 59 4 120 30 14 17 4 26 2 74 16 Based upon these data, what is the approximate predicted value for co-payment amount, if the total bill is Rs. 100,000?
Transcribed Image Text:A co-pay is a fixed amount that the insured has to pay for a covered medical service and the insurer takes care of the rest of the amount. The co-pay amount depends on the nature of the treatment and medications. If patient A's policy has a co-pay clause of 10% and A's claim is Rs 500,000, then A will have to pay Rs 50,000. A study was recently performed by a hospital to determine how much its patients were asked to contribute as co-payment based on the size of their total medical-bills. The insurance claims were settled at amounts equal to or less than the total bill amount. A random sample of bills and resulting co-payments were collected. These data (In thousands of Rupees) are shown as follows: Total Bill amount Co-payment amount 126 19 58 11 86 20 20 3 59 4 120 30 14 17 4 26 2 74 16 Based upon these data, what is the approximate predicted value for co-payment amount, if the total bill is Rs. 100,000?
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