Overview

Introduction to probability - a mathematical treatment. Topics include: probability axioms, conditional probabilities and the law of total probability, discrete and continuous random variables, univariate and multivariate distributions, independence and conditioning, conditional distributions and conditional expectations, moment generating functions, simulation, the law of large numbers and the central limit theorem.

Offerings

S1-01-CLAYTON-ON-CAMPUS
S1-FF-CLAYTON-FLEXIBLE

Contacts

Chief Examiner(s)

Dr Andrea Collevecchio

Unit Coordinator(s)

Dr Andrea Collevecchio

Learning outcomes

On successful completion of this unit, you should be able to:
1.

Understand the basic concepts of probability including conditioning and independence, univariate and multivariate probability distributions, expectations, generating functions and limit theorems;

2.

Appreciate the relevance of probability models to a variety of areas including Science, Engineering, Actuarial Science and Finance;

3.

Derive means, variances, moments and distributions in a variety of univariate and multivariate contexts;

4.

Use conditioning and moment generating functions to solve a variety of problems involving two or more events or random variables;

5.

Understand the way random numbers are generated;

6.

Formulate in probabilistic terms real-life situations involving uncertainty.

Assessment summary

Examination (3 hours and 10 minutes): 60% (Hurdle)

Continuous assessment: 40% (Hurdle)

Hurdle requirement: If you would otherwise have passed the unit but you do not achieve at least 45% in the end of semester written examination and continuous assessment you will receive a Hurdle Fail (NH) grade and a mark of 45 on your transcript.

Workload requirements

Workload

Other unit costs

Costs are indicative and subject to change.
Miscellaneous Items Required (Unit Course Reader,Printing, Stationery)- $120.

Availability in areas of study

Applied mathematics
Financial and insurance mathematics
Mathematical statistics
Mathematics
Pure mathematics