## Courses

##### Last Updated:

21/07/2017 - 12:25

## IAM530 - Elements of Probability and Statistics

**Credit: **
3(3-0); **ECTS: **
8.0

**Instructor(s): **
Ömür Uğur

**Prerequisites: **
Consent of Instructor(s)

#### Course Catalogue Description

Part I: Probability spaces, random variables, probability distributions and probability densities, conditional probability, Bayes formula, mathematical expectation, moments. Part II: Sampling distributions, decision theory, estimation (theory and applications), hypothesis testing (theory and applications), regression and correlation, analysis of variance, non-parametric tests.#### Course Objectives

The objective of this course is to introduce students to the basic probability theory and mathematical statistics and help them in establishing a good theoretical background for their future professions. This course provides a comprehensive introduction to probability, statistical theory and methodology. Lectures will explain the theoretical origins and practical implications of statistical formulae. This course initiate students to Probability Calculus and statistical methods used in current application problems.#### Course Learning Outcomes

Student, who passed the course satisfactorily will be able to:- apply the conditional probability concepts and Bayes theorem to the problems in finance and actuarial mathematics
- do mathematical modelling using the distributions of continuous and discrete random variables
- apply the concepts learn in the second part of the course to do statistical inference

#### Tentative (Weekly) Outline

Part I. Probability spaces, random variables, probability distributions and probability densities, conditional probability, Bayes formula, mathematical expectation, moments. Part II Sampling distributions, decision theory, estimation (theory and applications), hypothesis testing (theory and applications), regression and correlation, analysis of variance, non-parametric tests.More Info on METU Catalogue

Back