Overview
Offerings
Rules
Contacts
Chief Examiner(s)
Unit Coordinator(s)
Learning outcomes
Understand the idea of random variables varying with time;
Analyse Markov chains at the elementary level, in discrete and continuous time;
Understand key processes in probability, including the Poisson process, birth process, birth and death process, branching processes, random walks, martingales;
Apply the probability processes to practical situations, including queues, epidemics, servicing machines, networks, financial markets and insurance risk.
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
Other unit costs
Costs are indicative and subject to change.
Miscellaneous Items Required (Unit Course Reader,Printing, Stationery)- $120.
Availability in areas of study
Financial and insurance mathematics
Mathematical statistics
Mathematics
Pure mathematics