Representative Sample
Sample in which the relative sizes of the subpopulation samples are selected in such a manner as to be equal to the relative sizes of the subpopulations. For example, when measuring the viewing audience of a particular television show, the audience is stratified into several subpopulations: income groups, age groups, vocational groups, and so on. Then random samples are drawn from the various strata in proportion to the relative sizes of the REPLACEMENT, RECONSTRUCTION, AND REPRODUCTION COST.
Popular Insurance Terms
Insurance company that transfers a risk to a reinsurance company. ...
Protection required under the Motor Carrier Act of 1935. The policy covers the motor truck carrier if it is legally liable for the damage, destruction, or other loss of the customer's ...
Date after which losses may occur and be covered under a claims-made basis liability coverage. ...
Balance sheet and profit and loss statement of an insurance company. This statement is used by State Insurance Commissioners to regulate an insurance company according to reserve ...
Limits on reimbursement by an insurance company. Health insurance plans pay a doctor's full charge for service if it does not exceed the usual charge; that is, if it does not exceed the ...
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Cost of an annuity. Annuities are often paid for in a lump sum rather than annual or other periodic payments. This sum, which guarantees an income, usually for life, is called the purchase ...
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