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5.2-5.4 Vocab

Financial Algebra

outlier a piece of data which is extremely different than the rest of the data
skew when the mean of a data set is not equal to the median
range a measure which shows dispersion (how spread out the data are)
interquartile range the range of the middle 50% of the numbers
quartiles three values represented by Q1, Q2, and Q3 which divide the distribution into four subsets that each contain 25% of the data
personal injury protection sometimes mandatory coverage that pays for any physical injuries you or your passengers sustain while in the vehicle, even if you are not involved in a traffic accident
deductible the amount that the policy owner must pay before the insurance company pays any money
property damage liability (PD) pays for damage you cause to other people's property
actuary insurance statisticians who predict how often customers will submit claims
collision insurance pays you for the repair or replacement of your car if it's damaged in a collision with another vehicle or object, or if it overturns, no matter who is at fault
Created by: akominiarek