ACST602: Statistical Modelling in Finance and Insurance
This unit covers linear statistical modelling in insurance and finance. Topics include: simple and multiple linear regression; ANOVA models; analysis of residuals, regression diagnostics and influential observations; theory of estimation; method of moments and maximum likelihood; properties of estimators; sampling distributions and properties of sample statistics; the t, F and X2 distributions; confidence intervals and hypothesis testing in a regression context; type I and II errors; power; chi squared tests; criteria for choosing models; goodness of fit tests, tests of association and homogeneity; and applications of linear modelling to problems in insurance and finance.
| Credit Points: | 4 |
| Contact Hours: | 3 |
| When Offered: | D2 - Day; Offered in the second half-year |
| Staff Contact: | Tim Kyng |
| Prerequisites: | ACST601 and ACST604 |
| Corequisites: | |
| NCCWs: | |
| Unit Designations: | Commerce |
| Assessed As: | Graded |
| Offered By: |
Faculty of Business and Economics |