An Insurable Interest Is

question 56

Multiple Choice

An insurable interest is

• A)an interest in goods permitting a party to insure against their damage.
• B)an interest in ensuring that goods are of a certain quality.
• C)interest that can accrue from investing in insurance of certain goods.
• D)none of the choices.

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Definitions:

Histograms

Graphical representations of data distribution where data is grouped into ranges and each range's frequency is represented by a column's height.

Positively Skewed

A positively skewed distribution is one where the tail on the right side of the distribution is longer or fatter than the left side, indicating that the mean and median are greater than the mode.

Negatively Skewed

describes a distribution where the tail is longer on the left side, indicating that the bulk of values are toward the higher end.

Observations

Refers to the process of measuring or taking note of phenomena or data, usually as part of a scientific study or research.