MATH 416A - Actuarial Science Problems II

Description:
Review of topics in probability theory important for actuaries, including probabilities, random variables, moments, discrete, continuous, joint, and conditional distributions, and limit theorems.

Prerequisites:
Co- or prerequisite: MATH 411B.

Credits: (2)

Learner Outcomes, Activities and Assessments

Learner Outcome	Activity (optional)	Assessment
Solve problems involving probabilities, conditional probabilities, and continuous and discrete random variables.	In-class and homework exercises will ask students to work with conditional probabilities, discrete and continuous random variables, and joint, marginal, and conditional distributions.	Graded in-class quizzes and exams; graded homework.
Summarize common families of discrete and continuous probability distributions.	In-class exercises will focus on identifying situations where common families of distributions apply; students will complete a chart of common families of distributions.	Graded in-class quizzes and exams; graded homework.
Apply terminology from insurance to probability questions.	In-class exercises will focus on terminology such as deductible, policy limit, and proportional insurance.	Graded in-class quizzes and exams; graded homework.
Choose appropriate tools from probability to solve problems similar to those on the actuarial Exam P.	In-class exercises and homework problems will require students to choose appropriate tools from probability theory.	Graded in-class quizzes and exams; graded homework.