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

question 119

Short Answer

TABLE 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 Table 8-3, the mean of the sample is ________, while the standard deviation of the sample is ________.

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Definitions:

Tax Laws

are the legal rules and regulations governing how individuals, businesses, and other entities are taxed by the government.

Capital Gains

The profit from the sale of a capital asset, such as stocks or real estate, over its purchase price.

Residual Dividend Policy

A strategy for setting dividend payments based on the firm's residual or leftover equity after funding all its investment projects.

Debt-Equity Ratio

A financial ratio that shows the relative amounts of shareholders' equity and debt financing used to fund a company's assets.