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- ADVERSE SELECTIONSomet Health Insurance Company wants to sell a health insurance product for $700 permonth. There is no requirement for healthy people to have insurance coverage. Thecompany conducts a survey to see how different populations respond to the proposed cost.People with no illnesses and disabilities, generally the young and healthy, respond that theydo not spend $700 on healthcare in an entire year, and most feel they would not waste somuch money on premiums when the chance of needing surgery or expensive healthcaretreatments is so small. However, older, sicker people think that $700 per month is a greatdeal, as most of them spend far in excess of this amount on healthcare. It seems like agreat deal for them. What will happen to the costs of the health insurance if only the older, sicker peopleenroll?Pls answer all three question, pls explain the correct option in 5-6 sentences.Previous answer was wrong
- JUST ANSWER SUBPART 1 There are two individuals, Individual A and Individual B. Individual A has an income (Y) of 500 million Rupiah per year. If Individual A is sick, he will lose 25% of his income. Meanwhile, Individual B has an income (Y) of 100 million Rupiah per year, and if Individual B is sick, he will lose 75% of his income. The probability of Individual A and Individual B being sick is the same, which is 10%. If the satisfaction level of Individual A and Individual B is determined by their income level, based on the following function U(Y)=ln Y, would Individual A and Individual B prefer not to have health insurance? Explain Faced with fair actuarially insurance, how much premium is offered to Individual A? Is the premium rate offered the same for Individual B? Explain with the support of graphic illustrations. The government decides to provide compulsory health insurance with a premium rate for Individual A and Individual B, which is 2% of the income of each individual. In…2. For this question use the HUI3 scoring system for the health utilities index. Assume a patient has a baseline HUI3 state of (2,2,1,4,1,3,2,4) and a 1-year follow-up HUI3 health state of (2,2,1,3,2,1,2,2) after participating in a RCT. How many QALYs does this person gain in the first year after treatment? a. Use the information from above to answer the following questions. Suppose the cost of treatment was $20,000 and the average person lived an additional 10 years. What is the cost per QALY gained for the treatment (using discounted QALYS)? Does the treatment appear cost-effective? Explain.Is the answer 20?
- Pls select the correct option and answer in 5-6 sentencesWat does inelastic meansASAP Exercise 7-48 (Algo) (LO7-3) According to a government study among adults in the 25- to 34-year age group, the mean amount spent per year on reading and entertainment is $2,125. Assume that the distribution of the amounts spent follows the normal distribution with a standard deviation of $439. (Round your z-score computation to 2 decimal places and final answers to 2 decimal places.) a. What percent of the adults spend more than $2,400 per year on reading and entertainment? b. What percent spend between $2,400 and $3,400 per year on reading and entertainment? c. What percent spend less than $1,000 per year on reading and entertainment?
- Advertising testing that studies dilation or constriction of the eye in response to stimuli is called: Multiple Choice A) pupillometrics B) galvanic eye responses C) Flesch testing D) the reactive test.Previous answer was absolutely incorruQ.3 What is the difference between ordinary least square and maximum likelihood ( ML ) estimators ? Also discuss their properties ?