Systematic Error Is Defined as

question 102

Multiple Choice

Systematic error is defined as

• A) error that tends to be consistently too high or too low.
• B) error that has equal probability of being too high or too low.
• C) error that averages out with repeated trials.
• D) error that is random.

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Definitions:

Flood Coverage

A specific type of insurance policy provision that provides compensation for damage or loss to property as a result of flooding.

Reformation

A legal process to correct or modify an existing contract or document to accurately reflect the parties' intentions due to errors or misunderstandings.

Consequential Damages

Compensatory damages awarded in a lawsuit for losses that do not directly arise from the action but are a consequence of the action.

Policy Limits

The maximum amount an insurance company will pay under a policy for a covered loss.