Instruction 8-9
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 8-9,for the confidence interval to be valid,it is necessary that test scores of students in the special study program on the actuarial exam be normally distributed.

Question

Quizplus · Accepted Answer

For the confidence interval to be valid, it is necessary that the distribution of the test scores of students in the special study program on the actuarial exam is approximately normal, or that the sample size is large enough for the Central Limit Theorem to apply.

Instruction 8-9 to Become an Actuary, It Is Necessary to Pass a Pass