A Study Observed a Positive Association Between Number of Insurance

question 47

Multiple Choice

A study observed a positive association between number of insurance claims and income of the insured. On further analysis, it was found that the age of the insured had a strong positive association with income and helped explain the variation in the number of claims. What term is used to define the association between claims and income?

• A) spurious
• B) nonspurious
• C) temporal order
• D) causal order

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Definitions:

Neo-Expressionist

Referring to a modern art movement characterized by intense subjectivity and rough handling of materials.

Promissory Estoppel

A legal principle that prevents a party from going back on a promised commitment, even if a legal contract does not exist, due to the reliance of the other party on that promise.

Creditor's Promise

A declaration made by a creditor, indicating their intention to extend credit to a debtor under agreed terms.

Tender

The formal process of submitting a proposal or bid to undertake a contract or supply goods or services.