Health Insurance and I Show more Consider the following discrete probability mass function for the variables Health Insurance and Income. Health Insurance indicates whether each individual
Health Insurance and I Show more Consider the following discrete probability mass function for the variables Health Insurance and Income. Health Insurance indicates whether each individual
possesses health insurance coverage and if so what type with a) Construct the conditional probability distribution (pmf) of Income given that an individual is covered by a private employer sponsored health insurance plan; i.e. construct the table or graph that shows f(Inc | HI = 1). b)Calculate the mean income class for those individuals with private employer sponsored insurance. Is this greater than or less than the mean income class for those with private individually purchased insurance? Any thoughts regarding the comparison? [HINT: Use the correct distribution!] c)Find the covariance between HI and Inc and provide an interpretation of the sign of the statistic. Show less
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