What Are Three of the Damage Factors Utilized in Evaluating

question 16

Essay

What are three of the damage factors utilized in evaluating a first-party bad faith claim?

---

Definitions:

Sample Standard Deviation

A measure of the amount of variation or dispersion of a set of values in a sample.

Null Hypothesis

A default hypothesis that there is no statistical significance in a set of given observations, aiming to be either rejected or not rejected based on test results.

Standard Error

The standard deviation of the sampling distribution of a statistic, most commonly the mean.

Test Statistic

A calculated value used in statistical hypothesis testing to determine whether to reject the null hypothesis, based on the difference between observed data and what is expected under the null hypothesis.