Probability for Actuarial Science I

Catalog description

This course introduces elementary probability theory for single random variables, both discrete and continuous. Basic probability concepts such as counting techniques, sets, axioms of probability, conditional probability and independence, Bayes’ theorem are discussed. Other topics of discussion are discrete random variables and common discrete distributions such as binomial, geometric, negative binomial, hypergeometric and Poisson. Continuous distributions, uniform, normal and exponential distributions are also considered. In addition, limit theorems, deductibles and caps in insurance are included. MTH 2610 is the first of the two-course Probability for Actuarial Science sequence that prepares students for Exam P/Exam I.