TABLE 8-3 to Become an Actuary, It Is Necessary to Pass a Pass

question 90

Short Answer

TABLE 8-3
To become an actuary, it is necessary to pass a series of 10 exams, including the most important one, an exam in probability and statistics. An insurance company wants to estimate the mean score on this exam for actuarial students who have enrolled in a special study program. They take a sample of 8 actuarial students in this program and determine that their scores are: 2, 5, 8, 8, 7, 6, 5, and 7. This sample will be used to calculate a 90% confidence interval for the mean score for actuarial students in the special study program.
-Referring to Table 8-3, the critical value used in constructing a 90% confidence interval is ________.

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A type of tax levied on specific goods, services, or activities, often aimed at discouraging undesirable behaviors or generating revenue.

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A coffee drink made with espresso and steamed milk, often with a small amount of foam on top.

Excise Tax

A type of tax charged on specific goods, such as alcohol and tobacco, often used to discourage their use and generate revenue.

Tax Burden

The measurement of taxes paid by an individual or business, often expressed as a percentage of income or revenue.