An insurance agent earns a commission on each policy sold. This person made Rs.3,000 in commissions during one month and concludes that annual compensation will be Rs. 36,000. This is an example of:
A)descriptive statistics
B)inferential statistics
C)secondary data
D)nominal data

Question

Quizplus · Accepted Answer

The insurance agent is using the data from one month to make an inference or prediction about the annual compensation, which is an example of inferential statistics.

An Insurance Agent Earns a Commission on Each Policy Sold