Possible Losses Due to Negligence Resulting in Bodily Injury or Property

question 119

Multiple Choice

Possible losses due to negligence resulting in bodily injury or property damage to others are called ________ risks.

• A)speculative
• B)liability
• C)property
• D)personal
• E)commercial

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Definitions:

Empirical Rule

The empirical rule, also known as the 68-95-99.7 rule, states that for a normal distribution, approximately 68% of the data falls within one standard deviation of the mean, 95% within two, and 99.7% within three.

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of values, deviations, or probabilities for a set of data in which most measurements cluster around the mean.

Bell-Shaped

A bell-shaped curve is a graph of a distribution that resembles the shape of a bell, typically representing a normal distribution in which the bulk of the values lie towards the center and taper off symmetrically towards the extremes.

Standard Deviation

A measure of the dispersion or variability within a set of numerical data, indicating how spread out the values are.