Mathematical statistics

In this unit, you will be exposed to a comprehensive study of statistical methods and data analysis. Specifically, you will be introduced to the essential concepts and techniques in probability and statistical methods to equip you with the skills needed to extract meaningful insights from data. You will be given a robust foundation in data analysis, probability distributions, generating functions, joint distributions, conditional expectation, and the central limit theorem. The curriculum extends to cover crucial aspects of statistical inference, including sampling, point estimation, confidence intervals, hypothesis testing, the concepts of Bayesian statistics, and Bayesian estimators, and the applications of these methods in solving real-world problems.

Upon unit completion, you will develop the ability to apply statistical methodologies in practical scenarios which will prepare you for the challenges of actuarial analytics and provide sufficient expertise for use in various later units.

Active learning - This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

Problem-based learning - This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.