Pirates Have Been Intensely Attacking Ships Off the Shore of Somalia

question 82

Multiple Choice

Pirates have been intensely attacking ships off the shore of Somalia this year. Boat owners have reportedly coughed up more than $30 million in ransom and insurance premiums have shot up. If there is a sudden and unexpected increase in risk, who gains?

• A) insurance companies
• B) the government of Somalia
• C) boat owners who are insured with policies whose price cannot be changed
• D) pirates

Identify appropriate methods for displaying different types of data.

Analyze time series data and understand trends and fluctuations.

Apply knowledge of statistics to interpret real-world data reports and studies.

Understand the basic principles of data collection and the importance of accurate data reporting.

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Definitions:

Controllable Expenses

Costs that can be influenced by the decisions of a manager.

Profit Center Manager

A person responsible for overseeing a division or department within a company that is considered a separate entity for the purpose of tracking its revenues and expenses.

Operating Income

Income generated from a company's primary business activities, excluding revenue and expenses from peripheral activities, interest, and taxes.

Investment Center

A business unit within an organization that is responsible for its own revenue, expenses, and investments, allowing it to be evaluated on its profit contributions and investment returns.