An Insurance Company Evaluates Many Numerical Variables About a Person

question 62

Short Answer

An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance.The number of claims a person has made in the last 3 years is an example of a numerical variable.

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Definitions:

Empirical Research

A way of gaining knowledge by means of direct and indirect observation or experience, often involving systematically collected data.

Leadership Styles

The various approaches to leading and managing a team or organization, ranging from authoritarian to democratic to laissez-faire.

Leadership Positions

Roles or titles within an organization or group that carry responsibility for guiding and making decisions.

Underrepresented

Refers to groups or categories of individuals who are not adequately represented in a specific context or environment, often leading to calls for diversity and inclusion.