This unit is a study of techniques for assigning probabilities to events, with a particular emphasis on techniques involving combinatorics. Topics include: permutations and combinations; enumeration of equally likely cases; probability theorems; Bayes' Theorem; expected values; recurrence relations; generating functions; and application of calculus to probability. Concepts are often developed using simple examples, such as games of chance, but once understood, the concepts can be applied to many of the traditional actuarial problems examined in several 300-level actuarial units. -- Course Website
Instructor: Actuarial staff
Prerequisites: Admission to (BActStud or BComAct-Stud) and STAT171(Cr)
