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

question 102

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 confidence interval will be based on ________ degrees of freedom.

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Definitions:

Accounting

The information system that identifies, records, and communicates the economic events of an organization to interested users.

Revenue Account

An account that tracks the income generated from normal business operations, such as sales of goods or services.

Credited

A bookkeeping record that augments liabilities or equity, or diminishes an asset or expense.