PROBABILITY FOR ACTUARIES

Undergraduate

The purpose of this course is to prepare students for the Probability professional exam by bringing together topics such as probability, continuous and discrete univariate random variables (including binomial, negative binomial, geometric, hypergeometric, Poisson, uniform, exponential, gamma, normal), probability generating functions, moment generating functions, multivariate random variables(including the bivariate normal), joint distributions, conditional distributions, marginal distributions, functions of random variables. In addition, the following topics are introduced: Central Limit Theorem, risk and insurance applications, and probability applications in actuarial science (including discrete and continuous time Markov chains with application to insurance). PREREQUISITE: STAT 2910 Three lecture hours per week plus one-hour lab per week