Chapter 9 Flashcards Preview

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Flashcards in Chapter 9 Deck (10)
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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