Sharisma Suffered a Serious Stroke and Was Admitted to a Nursing

question 51

Multiple Choice

Sharisma suffered a serious stroke and was admitted to a nursing home for 140 days.Nursing home charges,including physician fees and other related expenses were $63,000.Under Sharisma's long-term care insurance contract,she received reimbursements of $56,000.How much of the $56,000 reimbursement must be included in Sharisma's gross income in 2013?

• A)$-0-
• B)$11,200
• C)$56,000
• D)$7,000

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Definitions:

Indicator Variables

Variables used in statistical models to label subgroups, often taking values 0 or 1 to indicate the absence or presence of some categorical effect.

Categorical Variable

A variable that represents categories or groups with qualitative differences, such as gender, nationality, or brand preference.

Regression Model

A statistical technique used to model and analyze the relationships between variables and how one variable's change is associated with the change of another.

Technical Expertise

Having specialized skills and knowledge in a particular field, especially in relation to complex systems or technology.