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TABLE 8-4
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 8-4, it is possible that the confidence interval obtained will not contain the mean score for all actuarial students in the special class.
Disparate Impact
A theory in employment and legal disputes where policies, practices, or rules seemingly neutral result in a disproportionate impact on a protected group.
Disparate Treatment
A legal term for when an employee is treated differently than others in the workplace based on protected characteristics, such as race or gender, which is illegal under employment law.
Title VII
A section of the Civil Rights Act of 1964 prohibiting employment discrimination based on race, color, religion, sex, or national origin.
Title VII
A provision in the Civil Rights Act of 1964 that forbids job discrimination on the grounds of race, color, religion, gender, or national origin.
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