Examlex
In trying to obtain a model to estimate grades on a statistics test,a lecturer wanted to include,among other factors,whether the person had taken the course previously.To do this,the lecturer included a dummy variable in her regression that was equal to 1 if the person had previously taken the course,and 0 otherwise.The interpretation of the coefficient associated with this dummy variable would be the mean amount the repeat students tended to be above or below non-repeaters,with all other factors the same.
Insurance Application
The form or process through which a potential insured provides information for an insurance company to evaluate and decide on providing coverage.
Beneficiary Payment
A payment made to a person or entity designated to receive benefits from a contract, such as insurance policy or a will.
Surrender
A mutual agreement between a landlord and a tenant in which the lessee returns his or her interest in the premises to the landlord.
Landlord
The owner of a property being leased. Also called lessor.
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