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

question 53

True/False

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, for the confidence interval to be valid, it is necessary that test scores of students in the special study program on the actuarial exam be normally distributed.

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Definitions:

Harry Braverman

An American Marxist sociologist and writer known for his work on labor and the degradation of work in the twentieth century.

Capitalists

Individuals or entities that own capital, invest in businesses, and seek to generate profit from their investments.

Profits

The financial gains obtained when the revenues generated from a business activity exceed the expenses, costs, and taxes involved in sustaining the activity.

Control

The power to influence or direct people's behavior or the course of events.