According to the Law of Large Numbers,if 26 Out of 100

question 65

Multiple Choice

According to the Law of Large Numbers,if 26 out of 100 homes are likely to sustain earthquake damage in a 30-year period of time in San Jose,California,and 12 out of 100 homes in the same location are likely to be damaged due to flooding during the same time period,the premium for earthquake coverage will be ____________.

• A)higher than the premium for flood insurance.
• B)lower than the premium for flood insurance.
• C)equal to or lower than the premium for flood insurance.
• D)equal to or higher than the premium for flood insurance.

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Definitions:

Formal Operational

The stage in Piaget's theory of cognitive development where individuals gain the ability to think abstractly and reason logically.

Abstract

A short summary of a research article, thesis, review, or other in-depth analysis, highlighting the main points and conclusions.

Logic

The science of correct reasoning, particularly as it involves the structure of arguments and the principles that lead to valid conclusions.

Cognitive Abilities

Cognitive Abilities are the mental skills that enable learning, problem-solving, reasoning, and understanding, including memory, attention, and executive functions.