Formulas
Var(X1 + X2) - Do not assume independence
What is Var(X1) + Var(X2) + 2Cov(X1,X2)
Also known as the average
What is mean
Formula for annuity-due
What is [1-(v^n)]/d
A boxplot is comprised of a box and these items that are also found on dog's face.
What are whiskers.
X ~ Gamma(a, b). Var(X) is this.
What is a(b^2)
Variance of Uniform(a,b) Distribution
What is (b-a)2/12
3Q - 1Q
What is Interquartile Range
Who is Elias Shiu
Name two data analysis programs/software
What is SAS, Minitab, Tableau, R, Excel, R
Geometric and Exponential distributions have this property
What is memoryless
What is P(A and B)/P(B)
No statistic has more occurrences than this value.
What is mode.
Term for a specified amount of money insured must pay before insurer will pay claim
What is a deductible
The phrase indicated by MGF
What is the moment generating function?
Variance of a Binomial(n, p) distribution
What is np(1-p)
Pdf of a Poisson(v) distribution
What is f(x) = [e-v * vx]/x!
An outlier can have a huge effect on this measure.
What is mean.
Name two companies that produce study manuals for actuarial exams
What is ASM, ACTEX, Coaching Actuaries, Infinite Actuaries, etc
A sum of iid exponential variables follows this distribution
What is a gamma distribution?
This distribution is also called the Student's Distribution
What is the t-distribution?
Law of Total Variance
What is Var(X) = E(Var(X|Y)) + Var(E(X|Y))
This phrase is indicated by MSE
What is Mean Squared Error
As of February 2020, there are this many ASA exams
What is seven?
If a statistic is an unbiased estimator for a parameter, the statistic's mean squared error (MSE) is equal to...
What is the statistic's variance
X ~ Negative Binomial(1, b). X also has this distribution.
What is Geometric(b)