SCENARIO 8-3 To Become an Actuary,it Is Necessary to Pass a Series

question 10

Short Answer

SCENARIO 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 Scenario 8-3,the critical value used in constructing a 90% confidence interval is
.

---

Definitions:

Treasury Stock

Shares that were issued and subsequently reacquired by the issuing company, reducing the amount of outstanding stock on the open market.

Bonds Payable

A classification in accounting for debts of a corporation due to be paid to bondholders at a specified date.

Operating Activities Section

Part of a cash flow statement that shows the cash generated or used in the primary revenue-producing activities of the business.

Land for Cash

Land for cash refers to the transaction in which real property is sold for cash payment without any financing involved.