Handbook

In this unit, you will be exposed to a comprehensive study of statistical methods and data analysis. Specifically, you will be introduced to the essential concepts and techniques in probability and statistical methods to equip you with the skills needed to extract meaningful insights from data. You will be given a robust foundation in data analysis, probability distributions, generating functions, joint distributions, conditional expectation, and the central limit theorem. The curriculum extends to cover crucial aspects of statistical inference, including sampling, point estimation, confidence intervals, hypothesis testing, the concepts of Bayesian statistics, and Bayesian estimators, and the applications of these methods in solving real-world problems.

Upon unit completion, you will develop the ability to apply statistical methodologies in practical scenarios which will prepare you for the challenges of actuarial analytics and provide sufficient expertise for use in various later units.