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:

Parenting Practices

The specific behaviors and strategies that parents use to raise their children.

Cognitive Theory

A theory focusing on the processes of thought and knowledge, including how individuals understand, reason, and make decisions.

Assumptions

Unverified beliefs or ideas taken for granted without proof in reasoning, argumentation, or calculation.

Organize

To arrange or order things in a structured manner, making them more systematic and accessible.