A Strip-Mall Includes Eight Identical-Sized Retail Units

question 13

Multiple Choice

A strip-mall includes eight identical-sized retail units.All of the units were built at the same time and each has an identical sprinkler system.Unit number two is a dry cleaning business.Unit number three is a bar and grill.Unit number four is a dress shop.The owners of these three units are all insured by the same insurance company,but the property insurance premiums vary significantly.Which of the following rating factors best explains the difference in premiums?

• A)exposure
• B)protection
• C)construction
• D)occupancy

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Definitions:

Conclusion

The end or finish of an event, process, or text, often summarizing findings or results.

Power Curve

A graphical representation used in statistics to show the probability of rejecting the null hypothesis at various effect sizes.

Power of the Test

The probability that a statistical test will correctly reject a false null hypothesis, indicating the test's ability to detect an effect when there is one.

Confidence Interval Estimate

A range of values derived from sample statistics that is likely to contain the value of an unknown population parameter, with a certain level of confidence.