Postgraduate Course: Statistical Methods (MATH11070)
|School||School of Mathematics
||College||College of Science and Engineering
|Credit level (Normal year taken)||SCQF Level 11 (Postgraduate)
||Availability||Not available to visiting students
|Summary||This course aims to provide postgraduate students with a broad knowledge of the principal areas of mathematical statistics and statistical methods widely used in actuarial science and finance. It is the intention that the course will be available to postgraduate students on other programmes who would benefit.
This course is delivered by Heriot Watt University and is only available to students on the MSc Financial Mathematics programme.
Random variables, special distributions.
Multivariate distributions and linear combinations.
Sampling distributions, central limit theorem, t and F distributions.
Estimation: properties of estimators, methods of constructing estimators.
Linear relationships: regression and correlation.
Entry Requirements (not applicable to Visiting Students)
|Prohibited Combinations|| Students MUST NOT also be taking
Statistical Inference (MATH11129)
||Other requirements|| MSc Financial Mathematics students only.
Course Delivery Information
|Academic year 2017/18, Not available to visiting students (SS1)
|Learning and Teaching activities (Further Info)
Lecture Hours 33,
Seminar/Tutorial Hours 11,
Summative Assessment Hours 3,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
|Additional Information (Learning and Teaching)
Examination takes place at Heriot-Watt University.
|Assessment (Further Info)
|Additional Information (Assessment)
||See 'Breakdown of Assessment Methods' and 'Additional Notes' above.
||Hours & Minutes
|Main Exam Diet S1 (December)||Statistical Methods (MATH11070)||2:00|
| On completion of this course the student should be able to:
- demonstrate knowledge of, and a critical understanding of, statistical methodologies (including the main concepts and methods of inference and modelling)
- understand and apply a range of statistical techniques based on the main theories and concepts which comprise the syllabus, including the central limit theorem
- perform basic probability calculations
- find/calculate moments and expected values of random variables and functions of random variables; use generating functions
- determine properties of estimators: efficiency, Cramer-Rao lower bound, (approx.) large sample distributions of MLEs
- perform inference on parameter estimates, including constructing confidence intervals and testing hypotheses on the values of parameters
- fit a linear regression model and critically evaluate other proposed models; test hypotheses concerning correlation coefficients
- show an awareness of how different statistical models and techniques can be applied to financial problems
- communicate meaningfully and productively with others (including practitioners and professionals in the financial services industry and elsewhere) on matters relating to and/or requiring the use of statistical methods
John E Freund's Mathematical Statistics: (7th Ed.), Miller & Miller, Prentice-Hall
New Cambridge Statistical Tables: (2nd Ed.), Lindley & Scott, C.U.P.
Formulae and Tables for Examinations of the The Faculty of Actuaries and the Institute of Actuaries, 2002
Introduction to Probability Theory and Statistical Inference: (3rd Ed.), H.J.Larson, Wiley
Introduction to Probability and Statistics: (8th Ed.), W. Mendenhall and R.J.Beaver, PWS, Kent
Essential Statistics (4th or later edition):Rees, Chapman and Hall/CRC
|Graduate Attributes and Skills
|Course organiser||Dr David Siska
Tel: (0131 6)51 9091
|Course secretary||Ms Hannah Burley
Tel: (0131 6)50 4885