click below
click below
Normal Size Small Size show me how
5.2-5.4 Vocab
Financial Algebra
Term | Definition |
---|---|
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 |