TABLE 2-1 An Insurance Company Evaluates Many Numerical Variables About a Person

question 112

Multiple Choice

TABLE 2-1
An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. A representative from a local insurance agency selected a random sample of insured drivers and recorded, X, the number of claims each made in the last 3 years, with the following results.
-Referring to Table 2-1, how many total claims are represented in the sample?

• A) 15
• B) 50
• C) 111
• D) 250

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Definitions:

Securities & Exchange Commission

A government agency that oversees securities transactions, activities of financial professionals, and mutual fund trading to prevent fraud and intentional deception.

Financial Disclosure

The process of providing financial information to stakeholders about a company's performance, financial status, and operations.

Form 10-K

An annual report required by the U.S. Securities and Exchange Commission that gives a comprehensive summary of a company's financial performance.

Summarized Financial Data

Concise representation of a company's financial performance and position, aggregating essential financial information.