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Author Question: What kinds of statistical data play a role in a life insurance firm's decision on the annual premium ... (Read 54 times)

burton19126

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on: Jun 24, 2018
What kinds of statistical data play a role in a life insurance firm's decision on the annual premium you will pay for your policy?

Question 2

Car dealers sometimes provide surveys so that customers can evaluate their purchasing experience at the establishment. What kinds of decisions might be made on the basis of this information?


phuda

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Reply #1 on: Jun 24, 2018
Answer to Question 1

The amount of money paid out in premiums and the number of policies purchased in the previous year would play a role in how much you pay for your policy. Data such as your age, and whether you are a smoker could also play a role.

Answer to Question 2

The car dealers might be able to make decisions on the quality of service, if there are enough salesmen, and the cleanliness of the show room.


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