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

question 90

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 critical value used in constructing a 90% confidence interval is ________.

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Definitions:

Kodak

A technology company that historically dominated the photographic film industry but struggled to adapt to the digital photography revolution.

Diversified Market

A market strategy that involves a company extending its reach into several different lines of business in an effort to reduce risk.

All-benefits Approach

A marketing strategy that emphasizes communicating all the benefits of a product or service to potential customers to influence their purchasing decision.

Value Proposition

A statement that summarizes why a consumer should buy a product or use a service, highlighting the unique value it provides.