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Firm decision on the annual premium

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Reference no: EM13975148

1. What kinds of statistical data play a role in an auto insurance firm's decision on the annual premium you'll pay for your policy?

2. For each of the following, indicate the scale of mea- surement that best describes the information.

a. In 2008, Dell Corporation had approximately 78,000 employees. Source: Fortune, May 4, 2009, p. F-48.

b. USA Today reports that the previous day's highest tem- perature in the United States was 105 degrees in Death Valley, California. Source: USA Today, June 19, 2009, p. 12A.

c. An individual respondent answers "yes" when asked if TV contributes to violence in the United States.

d. In a comparison test of family sedans, a magazine rates the Toyota Camry higher than the VW Passat.

Reference no: EM13975148

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