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Insurance works by
Outlier
An observation in a data set that is distant from other observations, potentially indicating a variance issue, measurement error, or novel discovery.
Box and Whisker Plot
A graphical representation of data that shows the distribution of data points based on a five-number summary: minimum, first quartile, median, third quartile, and maximum.
Five-number Summary
A statistical summary that includes the minimum, the first quartile, the median, the third quartile, and the maximum of a data set.
Z-scores
Standardized scores that indicate the number of standard deviations an element is from the mean of its distribution.
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