M Had Three Separate Casualties Involving Personal Use Property During

question 33

Multiple Choice

M had three separate casualties involving personal use property during the current year: M received insurance reimbursement as follows: $8,000 for damages to home; $700 for repair of car; and $5,000 for theft of silverware.What is M's deductible gain (or loss) on each casualty, respectively, before any percentage limit?

• A)$1,900 loss, $200 loss, $3,000 gain
• B)$2,000 loss, $300 loss, $3,000 gain
• C)$10,000 loss, $1,000 loss, $7,000 loss
• D)$10,000 gain, $2,000 loss, $2,000 loss

---

Definitions:

ANOVA

A statistical method, Analysis of Variance, used to compare the means of three or more samples to understand if at least one sample mean significantly differs from the others.

Hypothesis

A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Test For Equality

A statistical method used to determine if two or more groups have statistically significant differences in means.

Variances

Measures of how much a set of numbers is spread out from their average value, indicating distribution dispersion.