SCENARIO 8-3 to Become an Actuary, It Is Necessary to Pass a Pass

question 122

True/False

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.
-True or False: Referring to Scenario 8-3, if we use the same sample information to obtain a
95% confidence interval, the resulting interval would be narrower than the one obtained here
with 90% confidence.

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Definitions:

Drug Addicts

Individuals who have developed a physical or psychological dependence on substances that are detrimental to their health and well-being.

Birth Order

A concept suggesting that the order in which a person is born in their family affects their personality and behavior.

Biological Factors

Elements rooted in genetics and physiology that influence an individual's health, behavior, and personality.

Own Experience

Personal encounters or events that an individual goes through in life, contributing to their knowledge and perspective.