The Weights for a Weighted Mean Calculation Must Sum Up

question 37

True/False

The weights for a weighted mean calculation must sum up to 1.0.

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Definitions:

Low-Risk Individuals

People who are considered to have a lower probability of experiencing adverse events or making claims, often used in the context of insurance underwriting and premium setting.

Co-payments

Fixed amounts paid by an insured person for receiving specific health care services, with the insurance covering the remainder of the costs.

Secure Neighborhood

A residential area with enhanced security measures and protocols to protect its inhabitants.

Less Secure Neighborhood

An area characterized by higher risk of crimes or adverse events, affecting residents' sense of safety.