FE Exam Prep 19, Descriptive Statistics — Mean, Median, Variance, Confidence Intervals

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical difference between mean and median and why the FE exam tests this with skewed data. - How to identify whether to use the sample (n-1) or population (N) formula for variance, a common exam trap. - The distinction between standard deviation and variance and why units matter on the exam. - The decision criteria for using a z-statistic versus a t-statistic when calculating confidence intervals. - How to quickly find and apply the correct values, like the z-value of 1.96 for a 95% confidence interval, using the NCEES Reference Handbook. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep