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

question 112

Short Answer

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, the confidence interval will be based on_____ degrees of freedom.

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Definitions:

Goal-Sharing

The practice of disseminating and aligning goals across an organization to ensure that all members are working towards common objectives.

Stock Bonus Plans

Incentive programs that grant employees equity in a company, either in the form of stock options or shares, as part of their compensation package.

Stock Purchase Plans

Programs offered by companies allowing employees to purchase company stock often at a discount, aiming to align the interests of employees and shareholders.

Stock Option Plans

A compensation strategy that gives employees the option to purchase company stock at a predetermined price at a future date.