A Liability Insurance Policy Can Be Subrogated, but Cannot Be

question 8

True/False

A liability insurance policy can be subrogated, but cannot be assigned unless permission of the insurer is obtained.

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Definitions:

Alternative Hypothesis

A statement that contradicts the null hypothesis and is tested directly in a hypothesis testing framework, assuming the null hypothesis is false.

T Procedure

A statistical test used to determine if there is a significant difference between the means of two groups when the variances are unknown and assumed to be equal.

Sign Test

A nonparametric statistical test used to evaluate the difference between paired samples, based on the direction of changes rather than the magnitude.

Population Distribution

The spread of people across a given area or the spread of values of a particular variable across the population studied.