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:

Visual Aids

Tools that incorporate visuals, such as charts, graphs, and images, to reinforce or supplement verbal or written information during presentations or communications.

Audience Recall

The ability of an audience to remember and reproduce information or stimuli they have been exposed to after a period of time.

Multimedia Principle

The educational concept that learning is improved when information is presented using both words and relevant visuals, rather than words alone.

Firsthand Experience

Direct exposure or engagement with events or situations, gaining knowledge or skills from being personally involved.