STUDY MATERIALS FOR ACTUARIAL SCIENCE CT03 PAPER 2017 PROBABILITY AND MATHEMATICAL STATISTICS

****Written According To New Actuarial Science Ct 03 Entrance Exam Pattern Of All Over India And UK All Sections Are ****Thoroughly Explained With ****Ample Short And Long Questions With Their ****Answers And Explanations As Well. More Then**** 2000+ Solved Problems ****10 Model Papers Also Included. ****CONTENTS Summarise the main features of a**** data set (exploratory data analysis) Explain the concepts of probability. ****Explain the concepts of ****random variable,**** probability distribution, distribution function, expected value,**** variance and higher moments, and calculate expected values and ****probabilities associated with the distributions of random variables.**** Define a probability generating function,**** a moment generating function, ****a cumulant generating function and ****cumulants, derive them in simple cases, and use them to evaluate moments. ****Define basic discrete and continuous distributions, be able to apply them and simulate them in simple cases. ****Explain the concepts of independence, jointly distributed random variables and conditional distributions, and use generating functions to establish the distribution of linear combinations of independent random variables.**** State the central limit theorem, and apply it.**** Explain the concepts of random sampling, statistical inference and sampling distribution, and state and use basic sampling distributions.**** Describe the main methods of estimation and the main properties of estimators, and apply them.**** Construct confidence intervals for unknown parameters.**** Test hypotheses.