SCENARIO 8-3 To Become an Actuary,it Is Necessary to Pass a Series

question 34

Short Answer

SCENARIO 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 Scenario 8-3,the mean of the sample is_____ ,while the standard deviation of the sample is_____ .

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Definitions:

Layoff

The temporary or permanent termination of employment of an employee or group of employees for reasons not related to personal performance.

Verbal Communication

The use of spoken words to convey messages, thoughts, or information between individuals or groups.

Nonverbal Communication

The process of conveying meaning or information without using spoken words, through body language, facial expressions, gestures, and other cues.

Effective Dialogue

Is a process of meaningful conversation where all parties listen and contribute constructively, fostering understanding and actionable outcomes.