Compute $0.15(\$400)$ for the no-plan expected cost, compare it with the certain $\$55$ plan cost, and calculate the difference.

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No plan: $60 expected cost. Plan: $55. No plan is lower by $5.

No plan: $400 expected cost. Plan: $55. The plan is lower by $345.

No plan: $60 expected cost. Plan: $8.25. The plan is lower by $51.75.

No plan: $60 expected cost. Plan: $55. The plan is lower by $5.

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Curriculum context

Course: Math II
Standard: S-MD.7
Category: Statistics and Probability
Domain: Using Probability to Make Decisions
Objective: Analyze decisions and strategies with probability concepts in applied settings.
Problem type: Choose the lower expected monetary cost between coverage and no coverage