Ok, so I guess my question is why do I have to assume that it's normal. Why can't I assume it's gamma or anything else. I was under the impression that if I wanted to use anything other than normal, I had to use GLMs (which I'll admit I know nothing about).
My google search just turns up results telling me that one of the assumptions I have to make is that each Y is normal. My question is why do I have to assume its normal. Why does it follow that it has to be normal as opposed to some other distribution? Hope that makes sense.
Edit: I thought...
So a couple days ago three people all showed up to work wearing the same shirt. At first I thought this was just like the birthday problem, the probability at least 2 people in a room have the same birthday, but when I think more about it I think it's different. In the birthday problem, everyone...
I currently work as an actuarial student in Property/Casualty (Student here doesn't mean I'm still in school, just that you're not technically an actuary until you pass the exams).
Are the exams hard? Well, there are definitely harder than any test I took at school, but if you put in the time...