Autocorrelation in a data set can be identified by ________
A) a high R Square value
B) residual plots with large differences in the variances at different values of the independent variable
C) residual plots having clusters of residuals with the same sign
D) nonlinear parameters in the regression equation
C
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Term insurance is best described by which of the following?
A. Provides coverage to age 100, builds cash value, participates in dividend payments, high premium and is payable at the end of a preselected period. B. Combines monthly income during a stated period with a death benefit, nonforfeiture provisions and greater flexibility during times of inflation. C. Provides temporary protection, builds no cash value, is less expensive, and may be renewed. D. Provides the option to adjust the face amount, change anniversary dates, and automatically increases face amount at given age.
Use the data in Scenario 2.5 to answer this question. If the rating factor is 15%, what is the normal time for Element 2?
A) 23.9 seconds B) 27.5 seconds C) 28.1 seconds D) 31.6 seconds