What is the purpose of an automobile insurance plan? How does an auto plan generally work?
What will be an ideal response?
The purpose of an automobile insurance plan is to provide individuals with automobile insurance when other "standard" coverage is unavailable. Insurers in the state are forced to insure a proportionate share of poor drivers (or share in the losses). Rates are set by the state and all similar exposures pay the same high price
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Tennies Clinic uses client-visits as its measure of activity. During November, the clinic budgeted for 4250 client-visits, but its actual level of activity was 4240 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for November:Data used in budgeting: Fixed element per monthVariable element per client-visitRevenue - $37.30? Personnel expenses$31,400? $12.30?Medical supplies 2150? 7.70?Occupancy expenses 9500? 3.80?Administrative expenses 7800? 0.30?Total expenses$50,850? $24.10??Actual results for November: ?Revenue$158,364? Personnel expenses$83,509??Medical supplies$35,645??Occupancy expenses$25,113??Administrative
expenses$8824???? The activity variance for personnel expenses in November would be closest to: A. $166 F B. $123 F C. $166 U D. $123 U
Simulation models are designed to generate optimal solutions, which can then be applied to real-world situations
Indicate whether the statement is true or false
The test statistic of the single-factor ANOVA equals:
A. sum of squares for treatments / sum of squares for error. B. sum of squares for error / sum of squares for treatments. C. mean square for treatments / mean square for error. D. mean square for error / mean square for treatments.
The test statistic Fr for the Friedman test has what distribution?
a. approximate normal distribution b. approximate chi-squared distribution c. F-distribution d. None of these choices.