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What is the difference between stratified and cluster sampling? If the objective is to increase precision, which method is preferred?
Co-Insurance
An insurance policy feature where the insured party and the insurer share the covered losses in a defined proportion.
Insured
The individual or entity covered by an insurance policy, which provides protection against loss or damage.
Insurer
An entity that provides insurance coverage, assuming the risk of loss from an insured party in exchange for premiums paid.
Brokers
Intermediaries that arrange transactions between buyers and sellers for a commission.
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