Aims and Fit of Module

This module provides solid probabilistic and statistical tools to estimate parameters for a variety of actuarial models. Students are also required to understand the hypothesis tests and goodness of fit. Students gain the ability to design models according to different type of data.

Learning outcomes

A. Apply mathematical, statistical and probabilistic skills to solve actuarial models.
B. Perform the estimation for complete and modified data
C. Estimate parameters: point estimation, moment estimation, maximum likelihood estimation
D. Select models based on hypothesis tests
E. Apply estimation and model selection to more complex models
F. Analyze different actuarial models

Method of teaching and learning

This module is delivered through formal lectures and tutorial classes