TABLE 8-4 to Become an Actuary, It Is Necessary to Pass a Pass

question 8

True/False

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, for the confidence interval to be valid, it is necessary that test scores of students in the special study program on the actuarial exam be normally distributed.

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Definitions:

Intra-entity Sales

Transactions occurring between divisions, subsidiaries, or associated companies within the same parent company, affecting consolidated financial reporting.

Gross Profit

The revenue remaining after deducting the cost of goods sold (COGS) from the total sales revenue, indicating the efficiency of a company in managing its production and labor costs.

Equity in Investee Income

Equity in Investee Income refers to an investor's share of the income or losses of a company in which it holds an equity investment, recognized in proportion to its ownership percentage.

Significant Influence

The ability to impact the financial and operating policies of an investee through ownership or contract without having full control or majority ownership.