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It Is Flu Season,and You Are Trying to Decide If

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It is flu season,and you are trying to decide if you should get a flu shot.When you are healthy,you earn $144 a day,but if you become ill,you will only earn $100 a day.There is a 25% chance you will get the flu without a flu shot.If you do receive the flu shot,then you definitely will not get the flu.What is the actuarially fair price for the flu shot given this information?


Definitions:

Expected Cell Count

In the context of a chi-square test, the hypothesized count of occurrences in each category of a contingency table.

SAS Proficiency

The level of skill and knowledge in using the Statistical Analysis System (SAS) software for statistical analysis.

Statistical Software

Computer programs designed to analyze data and perform statistical tests.

Conditional Distributions

The distribution of a subset of statistical data or a variable, given that certain conditions or criteria are met.

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