In Terms of Frequency Distributions and Percentages

question 19

Multiple Choice

In terms of frequency distributions and percentages,

• A) percents can be averaged as long as it refers to the same questions
• B) percents cannot be averaged unless they are from the same sample
• C) do not refer only to percentages when the base of their computation is very small
• D) always include the percentage who do not answer a question

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Definitions:

Open Policies

Insurance policies that do not fix the value of the insured cargo but leave it to be ascertained in case of loss.

Fair Market Value

The price at which an asset would change hands between a willing buyer and seller, each having reasonable knowledge of relevant facts, and neither being under compulsion to buy or sell.

Material Facts

Facts that are significant or essential to the issue at hand, and that can influence a decision or outcome.

Void

Refers to an agreement or contract that is deemed legally invalid and unenforceable from the outset, as if it never existed.