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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 |
Created by:
akominiarek
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