A survey of a random sample of 40 actuarial scientists who passed all their exams and are 7. working in the field of actuarial sciences found the sample average salary to he $125,000 and the standard...


A survey of a random sample of 40 actuarial scientists who passed all their exams and are<br>7.<br>working in the field of actuarial sciences found the sample average salary to he $125,000 and the standard<br>deviation to be $15,000.<br>A.<br>Find the 90% confidence interval for the true average salary of actuarial scientists.<br>B.<br>If it is desired to be 95% confident that the sample mean is within $4,000 of the true average<br>salary of actuarial scientists, how many actuarial scientists should the survey have?<br>

Extracted text: A survey of a random sample of 40 actuarial scientists who passed all their exams and are 7. working in the field of actuarial sciences found the sample average salary to he $125,000 and the standard deviation to be $15,000. A. Find the 90% confidence interval for the true average salary of actuarial scientists. B. If it is desired to be 95% confident that the sample mean is within $4,000 of the true average salary of actuarial scientists, how many actuarial scientists should the survey have?

Jun 02, 2022
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