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An Insurance Company Evaluates Many Variables About a Person Before

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An insurance company evaluates many 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 100 insured drivers and recorded X, the amount of claims each made in the last 3 years. A Pareto chart can be used to present this information.


Definitions:

Hispanic

Relating to Spanish-speaking countries or peoples, especially those of Latin America and Spain.

Spanish-Speaking

Referring to individuals or populations that use Spanish as their primary language.

Economic Crisis

A period of significant financial downturn characterized by a sharp decline in economic activity, high unemployment, and financial instability.

Ideologies

Systems of beliefs or ideas that are the basis of economic, political, or social theories and policies.

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