What does Representative Sample mean? Read on to discover the definition & meaning of the term Representative Sample - to help you better understand the language used in insurance policies.
A representative sample is a portion of a larger population chosen because it reflects the quality or characteristics of the entire population. This portion is often used for studies such as statistical or market research.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Representative Sample. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: