Instruction 8-4 To Become an Actuary,it Is Necessary to Pass a Series

question 9

Short Answer

Instruction 8-4
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 Instruction 8-4,the mean of the sample is ________,while the standard deviation of the sample is ________.

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Definitions:

Organized

The quality or state of being systematically arranged or structured, especially for efficiency or easy access.

Working Memory

A cognitive system with a limited capacity that is responsible for temporarily holding information available for processing.

Short-Term Memory

A psychological term referring to the capacity for holding a small amount of information in an active, readily available state for a short period of time.

Autobiographical

Pertaining to the events of one's own life history, often depicted in personal writings, narratives, or memoirs.