Examlex

Solved

An Insurance Company Evaluates Many Numerical Variables About a Person

question 72

Short Answer

An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance.How long a person has been a licensed driver is an example of a numerical variable.


Definitions:

Equity Theory

A theory in social psychology that asserts individuals assess their job satisfaction based on the fairness of their work rewards relative to others.

Inputs

Resources, information, or stimuli that are used to produce a process or influence an outcome in a system or project.

Outcomes

The results or consequences of actions taken by individuals or organizations.

Interactional Unfairness

The perception that interpersonal treatment or communication within an organization or social context is unjust or biased.

Related Questions