6 points, SCA Band 2, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
School of Mathematical Sciences
- First semester 2017 (Day)
Introduction to probability - a mathematical treatment. Topics include: probability axioms, conditional probabilities and the law of total probability, discrete and continuous random variables, univariate and multivariate distributions, independence and conditioning, conditional distributions and conditional expectations, moment generating functions, simulation, the law of large numbers and the central limit theorem.
On completion of this unit students will be able to:
- Understand the basic concepts of probability including conditioning and independence, univariate and multivariate probability distributions, expectations, generating functions and limit theorems;
- Appreciate the relevance of probability models to a variety of areas including Science, Engineering, Actuarial Science and Finance;
- Derive means, variances, moments and distributions in a variety of univariate and multivariate contexts;
- Use conditioning and moment generating functions to solve a variety of problems involving two or more events or random variables;
- Understand the way random numbers are generated;
- Formulate in probablistic terms real-life situations involving uncertainty.
Examination(3 hours): 70% + Continuous assessment: 30%
Three 1-hour lectures and one 2-hour support class per week
See also Unit timetable information
This unit applies to the following area(s) of study
Financial and insurance mathematics