An Increase in the Amount of the Deductible Will

question 13

Multiple Choice

An increase in the amount of the deductible will:

• A)increase the insurance coverage.
• B)decrease the replacement cost of the insured property.
• C)decrease the amount of insurance premiums.
• D)increase the personal property floater coverage for the insured property.
• E)decrease the value of the property.

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Definitions:

Error

The difference between a measured or estimated value and the true value.

Slope

In mathematics, the rate of change or gradient of a line, indicating its steepness and direction.

Population Regression Line

The line that best describes the relationship between an independent variable and a dependent variable for the entire population.

Population Coefficient

A parameter that quantifies a certain characteristic or attribute of a population.