TABLE 2-2 An Insurance Company Evaluates Many Numerical Variables About a Person

question 254

Multiple Choice

TABLE 2-2
An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. A representative from a local insurance agency selected a random sample of insured drivers and recorded, X, the number of claims each made in the last 3 years, with the following results.

-Referring to Table 2-2, how many drivers are represented in the sample?

• A) 5
• B) 15
• C) 18
• D) 50

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Definitions:

Pay Equity

The principle of offering equal pay for work of equal value, aimed at eliminating gender and other forms of wage discrimination.

Comparable Value

A principle in employment and pay equity that jobs of equal value or worth to an organization should receive similar compensation, regardless of the job occupant's gender or other characteristics.

Employment Equity Act

Legislation that promotes fair treatment and elimination of discrimination in the workplace, often focusing on designated groups such as women, minorities, and people with disabilities.

Federal Jurisdiction

Refers to the legal scope and authority of the federal government to legislate and enforce laws.