Chapter 9 Flashcards
1
Q
Frequency distributions
Total claims
A
Sum of frequency x no of claims
2
Q
Frequency density height of bar
A
Frequency/ class width
3
Q
Types of numerical data
A
Discrete or continuous
4
Q
Discrete data
A
Distinct whole numbers
5
Q
Continuous data
A
Can take any numerical value - displayed on histogram ( no gaps between bars)
6
Q
Categorical types
A
Attribute / dichotomous
Nominal
Ordinal
7
Q
Attribute/ dichotomous data
A
Only has 2 categories
E.g claim, no claim
8
Q
Nominal data
A
Cannot be ordered
E.g type of policy
9
Q
Ordinal data
A
Can be ordered
E.g exam grades
10
Q
Class width rules
A
Claim to nearest £ - round down and up to account for 50p either side of band
Age last birthday - round upper limit up a year
