An Insurance Company Evaluates Many Numerical Variables About a Person

question 40

Short Answer

An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance.A person's age is an example of a numerical variable.

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Definitions:

Inconsistent

Lacking regularity or uniformity in thought, action, or character.

Controlled

An experiment or situation where variables are manipulated or regulated deliberately to test causality or assess outcomes.

Heider's

Fritz Heider's attribution theory focuses on how people interpret events and relate them to their thinking and behavior.

Balance Theory

A psychological theory proposing that individuals strive for psychological consistency in their relationships and beliefs, leading them to change attitudes or relationships to maintain balance.