3-38 in General,maximum Levels of Losses Are More Predictable for Liability

question 4

True/False

3-38 In general,maximum levels of losses are more predictable for liability lines than for property lines.

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Definitions:

Stratified Random Sampling

A sampling technique where the population is divided into distinct subgroups and samples are drawn from each subgroup.

Simple Random Sample

A sample in which each member of the population has an equal chance of being selected, minimizing biases in the sampling process.

M.D.

In a statistical context, this often refers to Mean Deviation, a measure of variability that averages the absolute deviations of data points from their mean.

D.O.

This can refer to several things; without context, an exact definition cannot be provided. In medical terms, it often stands for Doctor of Osteopathic Medicine.