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An Insurance Company Evaluates Many Numerical Variables About a Person

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An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance.How long a person has been a licensed driver is an example of a numerical variable.


Definitions:

Social Class

A division of a society based on social and economic status, affecting access to resources and opportunities.

Access to Resources

The ability or opportunity to obtain and use necessary materials, services, or valuable information.

Opportunities

Prospects or situations that present possibilities for advancement, achievement, or success, often influenced by socio-economic factors.

Married Couples

Two individuals legally united through marriage, recognized both socially and legally, forming a primary social and economic unit.

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