An Insurance Company Evaluates Many Numerical Variables About a Person

question 46

Short Answer

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

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Definitions:

Vertical Intercept

The point where a line crosses the vertical axis on a graph, indicating the value of y when x is zero.

Milkshakes

A creamy beverage made from milk, ice cream, and often flavorings or sweeteners like syrup or fruit.

Budget Line

A graphical representation showing all possible combinations of two goods that can be purchased with a given budget at set prices.

Price Increase

An upward adjustment in the selling price of goods or services.