Insurance Fraud Claims - Insurance Policy - Statistics Assignment Help

Assignment Task:

The file Insurance Fraud Claims.csv contains data relating to 500 insurance policyholders who have made a claim. Amongst the data collected were the holder’s marital status, personal income, type of injury sustained from the accident, the amount claimed and received, and whether the claim was flagged as fraudulent by the insurance company.

Complete the following tasks in R using the sub-sample that you have just created.

(1) Complete the table below for the three categorical features, marital status, InjuryType and FraudFlag.

(2) Complete the table below for the three continuous features, Income of Policy HolderStatus, Claimed Amount and Claimed Amount Received.

(3) Based on statistics in the summary tables of(1) and (2), can you identify any potential/obvious issue (if any) with your dataset? If so, what are they?

(4) Suppose that you wish to find the median claimed amount received for each injury type. However, you have noticed that the data for the Claimed Amount Received for a few of the individuals are missing.  Examine these individuals closely and outline whether you would (1) remove these individuals from the analysis or (2) replace/impute the values. Justify your answer.

Submission Instructions:

Your submission must include the following:
• This document with your answers
• A copy of your R code
• The dataset containing your sub-sample

The three files must be submitted through Blackboard three separate files.

Academic Misconduct

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Assignment Extensions

Applications for extensions must be completed using the ECU Application for Extension form, which can be accessed online.

Before applying for an extension, please check out the ECU Guidelines for Extensions which details circumstances that can and cannot be used to gain an extension. For example, normal work commitments, family commitments and extra-curricular activities are not accepted as grounds for granting you an extension of time because you are expected to plan ahead for your assessment due dates.

Please submit applications for extensions via email to both your tutor and the Unit Coordinator.

Where the assignment is submitted no more than 7 days late, the penalty shall, for each day that it is late, be 5% of the maximum assessment available for the assignment. Where the assignment is more than 7 days late, a mark of zero shall be awarded.

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