Test: Common Core: High School - Statistics and Probability

1.

A motorist is attempting to decide between the following two insurance policies:

Screen shot 2016 06 21 at 12.28.23 pm

A deductible is the amount of money that you have to pay out-of-pocket before your insurance company will cover the rest. In other words, if the total cost of an accident is  and you have a  deductible, then you will pay  for the accident and your insurance will cover the remaining 

Consider the following: 

Screen shot 2016 06 21 at 12.44.15 pm

Given this information which policy can we expect will save the motorist the most money in the following year?

The high deductible policy is cheaper by 

Cannot be determined

The low deductible policy is cheaper by 

The low deductible policy is cheaper by 

The high deductible policy is cheaper by 

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