Courses offered by the Department of Statistics and Operations Research can be broadly categorized as methodological with emphasis on applications, and theoretical. The course, Introduction to the Theory of Probability is primarily a theory course. However, applications to various topics in economics, finance, marketing, and operations will be discussed in order to illustrate the theoretical aspects of probability.
This course is designed to present the major ideas of probability, probability distributions, and probability modelling. It serves as preparation for many courses including applied statistics, stochastic processes, mathematical finance, and actuarial science. In particular this course will cover the concepts needed for the probability portion of actuarial examination 1.
You may select one of the two texts for the course. The homework problems will be from Hogg and Craig 5th edition and will be distributed in class.
(HC) Hogg, R. V. and Craig, A.T. (1995),"Introduction to Mathematical Statistics", fifth edition, New Jersey: Prentice Hall. This book provides a rigorous discussion of topics.
(HT) Hogg, R.V. and Tanis, E.A. (2001), Probability and Statistical Inference, sixth edition, New Jersey: Prentice Hall. A more verbal presentation of concepts.
Problem assignments will be given at the end of each session and will be submitted
the following week for review. All assignments must be completed. The final grade is computed as:
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