Probability for Risk Management

Catalog description

Prepares potential actuaries to master national exams. Develops knowledge of the fundamental probability tools for quantitatively assessing risk. Topics include: introduction to probability concepts including definition of probability, independence, conditional probability, random variables, specific discrete and continuous probability distributions, multivariate random variables, moments and moment generating functions, functions of random variables, sampling distributions and central limit theorem. Emphasizes the application of these tools to problems encountered in actuarial science.