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