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

question 63

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,a 90% confidence interval for the mean score of actuarial students in the special program is from _____to_____ .

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Definitions:

Recruiting

The process of identifying, attracting, interviewing, and hiring candidates for jobs.

Middle Managers

Individuals within an organization who manage the work of subordinate staff and report to higher management.

Department Head

A managerial position responsible for overseeing all activities within a specific department, ensuring goals are met, and managing departmental resources and personnel.

Team Leader

A person who leads, guides, and manages a team, ensuring that objectives are met effectively and efficiently.