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Describe three univariate statistics. Use a unique example to illustrate your comprehension of univariate statistics.
Installment Sales
Revenue recognition method allowing income to be realized at the time of sale but received through regular payments over time.
Contingent Liability
A potential financial obligation that may arise depending on the outcome of a future event.
Nontaxable Life Insurance
A type of life insurance policy where the proceeds paid on death or the cash value accumulation during the policyholder's lifetime are not subject to income taxes.
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