Probability and Statistics

(3 Credit Hours) · Undergraduate

This unit introduces fundamental concepts of probability and probabilistic methods and provides tools for understanding, addressing and solving problems in a wide range of areas including science, engineering and finance. The basic concepts cover (pairs of) discrete and continuum random variables, their distributions and properties of random variables; independence and the conditional probability of multivariate distributions, sums of random variables, laws of large numbers and the Central Limit Theorem. This unit also covers discrete and continuous random processes and their properties that are particularly useful in science, engineering and finance. Statistical computing will form an essential part in testing the theoretical ideas, understanding and interpreting them in real and simulated scenarios.