The following article discusses how many of the concepts we have been studying this session are applied in real life. From the title, you can see one concept for sure. What are some other concepts? Explain thoroughly. Health insurance, car insurance, house insurance and life insurance premiums are calculated using many yariables which might affect whether a policy holder filing a claim. What do you think some of those variables might be for each type of insurance? Explain how statistics, probability and in particular the Law of Large Numbers are used in calculating these premiums. The authors of the article below provide you with some more information to help you with this discussion