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

question 122

True/False

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.
-True or False: Referring to Scenario 8-3, if we use the same sample information to obtain a
95% confidence interval, the resulting interval would be narrower than the one obtained here
with 90% confidence.

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Definitions:

Survey

A research method in which predetermined, formatted questions are distributed to relatively large numbers of people. Typically, respondents respond by phone, mail, e-mail, or website.

Cross-sectional Surveys

Studies that collect data from a specific population or a representative subset at one specific point in time.

Questionnaire

A set of printed or digital questions used for collecting information from respondents, typically in research settings.

Question Format

The style or structure in which questions are designed, which can influence how respondents understand and answer them in surveys or studies.