The Question of Policy Loss

The Problem

Many insurance companies provide discounts for multiple cars covered under the same policy. Do these multiple car discount policies incur less loss than non-multiple car policies?

Areas of Application

Basic Statistics including

Mean and median
Box & Whisker Plots
Histograms
Hypothesis tests: Wilcoxon Rank-Sum Test & Sign Test

Explanation of Alignment with Standards

Background Information

None available at this time.

Materials Included

Database of policy number, type of policy, and monetary loss incurred
Explanations for making a histogram
Explanation for Wilcoxon Rank-Sum Test & Sign Test
Instructions for making a box & whisker plots
Solutions and suggestions

Download

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Last modified: Jun 25, 2010, 14:57 UTC