units
MTH3241
Faculty of Science
This unit entry is for students who completed this unit in 2016 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.
6 points, SCA Band 2, 0.125 EFTSL
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Faculty
Organisational Unit
School of Mathematical Sciences
Coordinator(s)
Offered
- First semester 2016 (Day)
Synopsis
This unit introduces the methods of stochastic processes and statistics used in the analysis of biological data, physics, economics and engineering. At the completion of the unit students will understand the application of classical techniques, such as Poisson processes, Markov chains, hidden Markov chains, random walks, martingale theory, birth and death processes, and branching processes in the analysis of DNA sequences, population genetics, dynamics of populations, telecommunications and economic analysis.
Outcomes
On completion of this unit students will be able to:
- Understand the idea of random variables varying with time;
- Analyse Markov chains at the elementary level, in discrete and continuous time;
- Understand key processes in probability, including the Poisson process, birth process, birth and death process, branching processes, random walks, martingales;
- Apply the probability processes to practical situations, including queues, epidemics, servicing machines, networks, financial markets and insurance risk.
Assessment
Final exam: 70%
Assignments: 30%
Workload requirements
Three 1-hour lectures and one 2-hour support class per week
See also Unit timetable information
Chief examiner(s)
This unit applies to the following area(s) of study
Applied mathematics
Financial and insurance mathematics
Mathematical statistics
Mathematics
Pure mathematics
Prerequisites
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