- Code STAT4036
- Unit Value 6 units
- Offered by Rsch Sch of Finance, Actuarial Studies & App Stats
- ANU College ANU College of Business and Economics
- Course subject Statistics
- Areas of interest Actuarial Studies, Statistics
All activities that form part of this course will be delivered remotely
This course covers the fundamental concepts of: Bayesian statistics, including estimation, prediction, hypothesis testing, and decision theory; time series analysis, including estimation and prediction based on ARIMA models; credibility theory, including limited fluctuation credibility theory and the Buhlmann-Straub model; several run-off techniques for estimating an outstanding claims reserve; and Monte Carlo techniques, including the inverse transformation method, the polar method, and Monte Carlo integration.
Upon successful completion, students will have the knowledge and skills to:
- Explain in detail the fundamental concepts of Bayesian statistics and use these concepts to calculate Bayesian estimators (including credibility estimators);
- Critically analyse and apply the main concepts underlying the analysis of time series models;
- Communicate and apply techniques for analysing a delay (or run-off) triangle and projecting the ultimate position; and,
- Explain in detail and apply the concepts of “Monte Carlo” simulation using a series of pseudo-random numbers, including defining the basics of Markov chain Monte Carlo methods.
- Typical assessment may include, but is not restricted to: exams, assignments, quizzes, presentations and other assessment as appropriate. (100) [LO 1,2,3,4]
In response to COVID-19: Please note that Semester 2 Class Summary information (available under the classes tab) is as up to date as possible. Changes to Class Summaries not captured by this publication will be available to enrolled students via Wattle.
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Students are expected to commit 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time.
Requisite and Incompatibility
You will need to contact the Rsch Sch of Finance, Actuarial Studies & App Stats to request a permission code to enrol in this course.
Information about the prescribed textbook will be available via the Class Summary.
Tuition fees are for the academic year indicated at the top of the page.
If you are a domestic graduate coursework or international student you will be required to pay tuition fees. Tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
- Student Contribution Band:
- Unit value:
- 6 units
If you are an undergraduate student and have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). You can find your student contribution amount for each course at Fees. Where there is a unit range displayed for this course, not all unit options below may be available.
Offerings, Dates and Class Summary Links
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.