An Associated Press story in Easton, Maryland’s The Star Democrat on June 3, 2010 reported that All told, scam artists are believed to have stolen about $47 billion from Medicare in the 2009 fiscal year, nearly triple the toll a year earlier. Medicare spokesman Peter Ashkanaz said that…charges have been filed against 103 defendants in cases involving more than $100 million in Medicare fraud. (a) What percentage of the Medicare fraud has been targeted by filed charges? (b) What is the average claim in each fraud charge? (c) How many of these average size claims would need to be filed to recover the entire $47 billion?
An Associated Press story in Easton, Maryland’s The Star Democrat on June 3, 2010 reported that All told, scam artists are believed to have stolen about $47 billion from Medicare in the 2009 fiscal year, nearly triple the toll a year earlier. Medicare spokesman Peter Ashkanaz said that…charges have been filed against 103 defendants in cases involving more than $100 million in Medicare fraud. (a) What percentage of the Medicare fraud has been targeted by filed charges? (b) What is the average claim in each fraud charge? (c) How many of these average size claims would need to be filed to recover the entire $47 billion?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
Related questions
Question
An Associated Press story in Easton, Maryland’s The Star Democrat on June 3, 2010
reported that
All told, scam artists are believed to have stolen about $47 billion from Medicare in
the 2009 fiscal year, nearly triple the toll a year earlier. Medicare spokesman Peter
Ashkanaz said that…charges have been filed against 103 defendants in cases
involving more than $100 million in Medicare fraud.
(a) What percentage of the Medicare fraud has been targeted by filed charges?
(b) What is the average claim in each fraud charge?
(c) How many of these average size claims would need to be filed to recover the entire $47 billion?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill