MATCHING: -An Option That Provides for Increases in Benefit Amounts to to Help

question 13

Multiple Choice

MATCHING:
-An option that provides for increases in benefit amounts to help pay for expected future increases in the costs of long-term care services

• A)nursing home
• B)assisted living facility
• C)Social Security
• D)Supplemental Security Income
• E)Medicare
• F)Medicaid
• G)long-term care insurance
• H)inflation protection
• I)nonforfeiture benefit
• J)waiver of premium payment
• K)elimination period

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Definitions:

Statistical Probability

The likelihood of an event occurring based on a mathematical model, often expressed as a number between 0 and 1.

T-test

A statistical test used to compare the means of two groups to determine if they come from the same population.

Alpha

A predetermined threshold in hypothesis testing that defines the probability of making a Type I Error, usually set at 0.05, indicating a 5% risk of false positive.

Null Hypothesis

A hypothesis that suggests there is no significant difference or effect, serving as a default position until evidence suggests otherwise.