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Statistical Techniques in Insurance (ACTL90008)
Graduate courseworkPoints: 12.5On Campus (Parkville)
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 2
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
Overview
Availability | Semester 2 |
---|---|
Fees | Look up fees |
Topics include multiple linear regression; Spearman´s and Kendall´s measures of correlation; principal component analysis; generalised linear models; bootstrap method; Bayesian statistics; credibility theory.
Intended learning outcomes
On successful completion of this subject a student should be able to:
- Be able to use exploratory data analysis techniques to reduce dimensionality of complex data sets and to determine the correlation for multivariate data.
- Describe and explain multiple linear regression models.
- Explain the fundamental concepts of a generalised linear model (GLM), and describe how a GLM may apply.
- Use statistical software such as R to fit regression and generalised linear models to a data set and interpret the results and to write simple functions to complete routine tasks.
- Be able to apply the bootstrap method to estimate properties of an estimator.
- Explain the fundamental concepts of Bayesian statistics and apply these concepts to derive Bayesian estimators.
- Describe and apply the fundamental concepts of credibility theory.
- Apply pre-requisite mathematical and statistical concepts to the solution of problems on the above topics.
Generic skills
High level of development:
- written communication;
- problem solving;
- statistical reasoning;
- application of theory to practice;
- synthesis of data and other information;
- evaluation of data and other information;
- use of computer software.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Students must have previously studied the equivalent of:
Code | Name | Teaching period | Credit Points |
---|---|---|---|
MAST20004 | Probability |
Semester 2 (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
|
12.5 |
MAST20005 | Statistics |
Semester 2 (On Campus - Parkville)
Summer Term (On Campus - Parkville)
|
12.5 |
Corequisites
None
Non-allowed subjects
None
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
Assignment 1
| Week 5 | 10% |
Mid-semester test (Week 7 or 8)
| Mid semester | 10% |
Assignment 2
| Week 11 | 10% |
End-of-semester exam
| During the examination period | 70% |
Last updated: 3 November 2022
Dates & times
- Semester 2
Principal coordinator Enrique Calderin Mode of delivery On Campus (Parkville) Contact hours Total time commitment 170 hours Teaching period 3 August 2020 to 1 November 2020 Last self-enrol date 14 August 2020 Census date 21 September 2020 Last date to withdraw without fail 16 October 2020 Assessment period ends 27 November 2020 Semester 2 contact information
Time commitment details
Estimated total time commitment of 170 hours per semester
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Diploma in Actuarial Science Course Master of Actuarial Science - Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022