An Insurance Company Evaluates Many Variables About a Person Before

question 8

True/False

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.

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Definitions:

Conscientiousness

A personality trait characterized by being thorough, careful, or vigilant; implies a desire to do a task well.

Personality Traits

Characteristics or qualities that form an individual's distinctive character, often used to predict behavior and attitudes.

Hardworking

Characterized by diligent effort and perseverance in completing tasks.

Dependable

Capable of being trusted or relied upon consistently.