You have a 1 percent chance of having healthcare bills of 100,000, a 19 percent chance of having…


You bear a 1 percent luck of having healthcare bills of 100,000, a 19 percent luck of having healthcare bills of 10,000, a 60 percent luck of having healthcare bills of 500, and a 20 percent luck of having healthcare bills of 0. What is your expected spending? Would you be voluntary to buy consummate insurance coverage if it consume 3,712? Explain.