Correlation of age of applicants of life insurance and premium of insurance in statistical term is
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The age of applicants for life insurance and premium of insurance in statistical terms is a positive correlation.
What is a positive correlation in insurance policy?
- As a person becomes older, he gets near to his life's end.
- As he gets near to death, the correlation for the premium of insurance becomes positive.
- For a person who is young, the correlation will be negative.
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Answer:
y=a+bx then y is value
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