A 6. Salaries for Actuaries The average salary £ ates entering the actuarial field is $63,000. If are normally distributed with a standard devi $5000, find the probability that a. An individual graduate will have a salary $68,000. b. A group of nine graduates will have a grc over $68,000.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.