SCENARIO 2-1 An Insurance Company Evaluates Many Numerical Variables About a Person

question 66

Multiple Choice

SCENARIO 2-1
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 Scenario 2-1,how many drivers are represented in the sample?

• A)5
• B)15
• C)18
• D)50

Understand the implications of using certain herbal supplements in patients with specific health conditions.

Understand the impact of CSR activities on company reputation and how to effectively communicate these initiatives.

Grasp the concept and application of Advertising Value Equivalence (AVE) in public relations.

Recognize the role of PR teams in crisis management and the strategies for effective communication with the media during such times.

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Definitions:

In-Plant Inventory

Refers to the stock of raw materials, work-in-progress, and finished goods that are kept within a manufacturing plant or facility.

Just-In-Time Partnerships

Collaborations between companies that focus on producing or delivering goods only as they are needed, to reduce inventory costs and increase efficiency.

Large Lot Sizes

Refers to the practice of producing or purchasing goods in large quantities, typically to achieve economies of scale but potentially leading to increased inventory costs.