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![Ansi a z the if Paula buys premium for full health Meat Pear insurance kelill be 1 $ 40 [b] In the first Case that is part 9](http://img.homeworklib.com/questions/574c3d60-75be-11ea-97af-113c007623b5.png?x-oss-process=image/resize,w_560)
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There is a 1% chance that Paula will break her leg in the next
year and...
Rhoda Ruyner owns a $200,000 home and has a 2% chance of experiencing a loss that destroys her ho...
Rhoda Ruyner owns a $200,000 home and has a 2% chance of experiencing a loss that destroys her home in any given year. Assume that only one loss per year can occur and that if a loss occurs, her home is totally destroyed. Suppose that Rhoda purchases a full insurance contract from Acme Insurance for an actuarially fair premium. This contract would pay losses due to the total destruction of Rhoda’s home. Assume that Rhoda’s contract is the only insurance...
1. Rhoda Ruyner owns a $200,000 home and has a 2% chance of experiencing a loss...
1. Rhoda Ruyner owns a $200,000 home and has a 2% chance of experiencing a loss that destroys her home in any given year. Assume that only one loss per year can occur and that if a loss occurs, her home is totally destroyed. Suppose that Rhoda purchases a full insurance contract from Acme Insurance for an actuarially fair premium. This contract would pay losses due to the total destruction of Rhoda’s home. Assume that Rhoda’s contract is the only...
On a bike trail, you come across a 19 year female sitting next to her tipped...
On a bike trail, you come across a 19 year female sitting next to her tipped over bicycle. She says, “My left arm and leg hurt like crazy.” You check her and find that she is unable to move her leg, which is beginning to swell; you feel a raised bump area below her knee. Her left arm looks deformed at the shoulder and is beginning to look bruised. The woman also has a scrape on her right hand and...
Problems (see the end of each question for its respective point value) 1. Bob's utility preferences...
Problems (see the end of each question for its respective point value) 1. Bob's utility preferences with respect to wealth (W) can be described by the utility function U-0.5. Assume that Bob's current wealth level equals $400. Also assume that Bob faces a 20 percent chance of incurring a fire in the next year that would totally destroy his home (valued at $300) and an 80 percent chance of suffering no fire loss during the year. If Bob were charged...
A fifty-five-year-old woman suffering from osteoporosis (bone loss) Is Interested in how her diet affects her...
A fifty-five-year-old woman suffering from osteoporosis (bone loss) Is Interested in how her diet affects her blood pH. She has read that consuming acidifying foods and drinks, such as meats, sodas, and grains, decreases her blood pH, which in turn decreases her bone density. But she really likes to eat those foods, and she's skeptical that what she eats could really affect her body's pH. To test the idea, she purposefully eats an acidifying diet for a limited time, knowing...
1. Tom has an initial wealth of 100. His car may be stolen so he runs...
1. Tom has an initial wealth of 100. His car may be stolen so he runs a risk of a loss of 20 Hollars. The probability of loss ik 0.2. It is also possible that someone breaks in Tom's home. In this case, he runs a risk of a loss of (80 dollars. The probability of loss is 0.1, These two probabilities (events) are independent. It is possible, however, for Tom to buy insurance. One unit of car insurance costs...
1) Bob's income is $90,000. There is a 20% chance Bob will get sick during the next year. If Bob gets sick, he will...
1) Bob's income is $90,000. There is a 20% chance Bob will get sick during the next year. If Bob gets sick, he will incur a loss of $27,500. His utility function is U(U)=105 (that is, utility equals the square root of Income). (25 pts) a) What is Bob's expected income? b) What is Bob's expected loss? c) What is Bob's expected utility? d) What is the maximum amount of money Bob is willing to pay for insurance? What is...
1:4-56 Pat was divorced from her husband in 2012. During the current year she received alimony of...
1:4-56 Pat was divorced from her husband in 2012. During the current year she received alimony of $18,000 and child support of $4,000 for her 11-year-old son, who lives with her. Her former husband had asked her to sign an agreement giving him the de- pendency exemption for the child but she declined to do so. After the divorce she ac- cepted a position as a teacher in the local school district. During the current year she received a salary...
9:45 Scenario 1 (Margot Margot (64) is filing as a single taxpayer. Her adjusted gross income during the year was $...
9:45 Scenario 1 (Margot Margot (64) is filing as a single taxpayer. Her adjusted gross income during the year was $32,000. This is the amount entered on her Form 1040, line 7. She will itemize deductions when she files her 2018 federal Form 1040 To seek relief for a medical condition, Margot traveled to a clinic in another state during the year. She incurred the following trip-related expenses: $75 for a room in a hotel near the clinic (one night)....
1).- Anita is a self employed beautician, This year her net income reported on schedule c...
1).- Anita is a self employed beautician, This year her net income reported on schedule c was 43600. How much self employment tax must she pay on schedule SE? a) 3180 b) 6160 c)6671 d) none because her income from self employment is under 128400, Anita is not subject to the self employment tax. 2.- Which of these is NOT an eligibility requirement for the premium tax credit? a) not eligible for a government health insurance program ...
Problems (see the end of each question for its respective point value) 1. Bob's utility preferences with respect to wealth (W) can be described by the utility function U-0.5. Assume that Bob's current wealth level equals $400. Also assume that Bob faces a 20 percent chance of incurring a fire in the next year that would totally destroy his home (valued at $300) and an 80 percent chance of suffering no fire loss during the year. If Bob were charged...
A fifty-five-year-old woman suffering from osteoporosis (bone loss) Is Interested in how her diet affects her blood pH. She has read that consuming acidifying foods and drinks, such as meats, sodas, and grains, decreases her blood pH, which in turn decreases her bone density. But she really likes to eat those foods, and she's skeptical that what she eats could really affect her body's pH. To test the idea, she purposefully eats an acidifying diet for a limited time, knowing...
1. Tom has an initial wealth of 100. His car may be stolen so he runs a risk of a loss of 20 Hollars. The probability of loss ik 0.2. It is also possible that someone breaks in Tom's home. In this case, he runs a risk of a loss of (80 dollars. The probability of loss is 0.1, These two probabilities (events) are independent. It is possible, however, for Tom to buy insurance. One unit of car insurance costs...
1) Bob's income is $90,000. There is a 20% chance Bob will get sick during the next year. If Bob gets sick, he will incur a loss of $27,500. His utility function is U(U)=105 (that is, utility equals the square root of Income). (25 pts) a) What is Bob's expected income? b) What is Bob's expected loss? c) What is Bob's expected utility? d) What is the maximum amount of money Bob is willing to pay for insurance? What is...
1:4-56 Pat was divorced from her husband in 2012. During the current year she received alimony of $18,000 and child support of $4,000 for her 11-year-old son, who lives with her. Her former husband had asked her to sign an agreement giving him the de- pendency exemption for the child but she declined to do so. After the divorce she ac- cepted a position as a teacher in the local school district. During the current year she received a salary...
9:45 Scenario 1 (Margot Margot (64) is filing as a single taxpayer. Her adjusted gross income during the year was $32,000. This is the amount entered on her Form 1040, line 7. She will itemize deductions when she files her 2018 federal Form 1040 To seek relief for a medical condition, Margot traveled to a clinic in another state during the year. She incurred the following trip-related expenses: $75 for a room in a hotel near the clinic (one night)....
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