Exam MAS-I Practice Question 32

Study guide: Exam MAS-I

An insurer treats the following eight claim amounts, in thousands, as a random sample from its severity distribution:

3,\quad 7,\quad 8,\quad 12,\quad 15,\quad 18,\quad 22,\quad 27

Calculate the estimated standard error of the sample mean, using the unbiased sample variance. Give your answer in thousands, to two decimal places (for example, 1.23).

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Concepts tested

• Random Sample
• Sample Mean
• Sample Variance
• Standard Deviation

More questions from this set

• Exam MAS-I Practice Question 31
• Exam MAS-I Practice Question 33