Handbook

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

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

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

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

Understand the way random numbers are generated;

Formulate in probabilistic terms real-life situations involving uncertainty.