An Insurance Company Evaluates Many Variables About a Person Before

question 107

True/False

An insurance company evaluates many 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 100 insured drivers and recorded, X, the number of claims each made in the last 3 years.A Pareto chart can be used to present this information.

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Definitions:

Modern Life

Describes the lifestyle and societal conditions that are characteristic of the contemporary era, often associated with technology, urban living, and fast-paced changes.

Opiate of the Masses

A metaphor for something that dulls awareness and leads to passive acceptance, originally describing religion's effect on society and its divisions.

Working Class

A social group consisting of people employed in lower tier jobs, often involving manual labor or industrial work, and typically characterized by lower income and educational levels.

Religion

A system of beliefs, practices, and moral values centered around the worship of a higher power or deity.