You Do Not Need Insurance for Events Which Are Unlikely

question 65

True/False

You do not need insurance for events which are unlikely to happen.

---

Definitions:

Expected Income

The amount of money one anticipates earning over a specific period, often considering current income and potential changes.

Expected Income

The amount of money one anticipates receiving over a specific period, considering various factors like job security and market conditions.

Expected Value

is a statistical measure that calculates the average outcome of a random variable over a large number of trials.

Standard Deviation

A statistical measure that quantifies the variability or spread of a dataset around its mean value.