The Market for Insurance Is One Example of Reducing Risk

question 73

True/False

The market for insurance is one example of reducing risk by using diversification.

---

Definitions:

Group of Scores

A collection of numerical values or grades that represent the results of tests, evaluations, or performance assessments.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution, such as the mean, median, or mode.

Numerical Information

Data that is expressed or can be expressed in numbers, playing a critical role in analysis, measurement, and quantitative studies.

Statistics

The science of collecting, analyzing, interpreting, and presenting data.