May 02, 2026  
2017-2018 Undergraduate Catalog 
    
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2017-2018 Undergraduate Catalog [NOTE!!!! THIS IS AN ARCHIVED CATALOG. FOR THE CURRENT CATALOG, GO TO CATALOG.NIU.EDU]

STAT 481 - Probabilistic Foundations in Actuarial Science

Actuarial populations. Univariate parametric actuarial distributions including Weibull and Pareto. Multivariate actuarial distributions. Exact and asymptotic relationships among these distributions. Mixtures of distributions. Jointly discrete, continuous, and mixed distributions. Moment, cumulant, and probability generating functions. Transformations of variables, and in-depth study of conditioning, for multivariate distributions. Basic theory of individual and collective risk models for aggregate loss from insurance policies.

Prerequisites & Notes
PRQ: STAT 470 or consent of division.

Credits: 3