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.

Grasp the importance and methods of establishing the validity of a test.

Recognize the normal distribution curve and its relevance in intelligence testing.

Understand predictive validity in the context of educational outcomes.

Comprehend the diversity in intelligence test score distribution among different demographic groups.

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Definitions:

Welfare Facilities

Denotes amenities and services provided by employers to improve the well-being and working conditions of employees.

Structural Changes

Alterations in an organization's internal organization, such as its design, hierarchy, or allocation of resources.

Technological Advantages

The superior benefits that an organization or society gains from the adoption and integration of new and advanced technologies.

Organisational Asset

Assets, either tangible or intangible, that contribute to an organization's ability to create value, including human resources, intellectual property, and physical assets.