STATS 125 Probability and Its Applications

Below description edited in year: 2019

Points: 15

Coreqs: MATHS 108 or MATHS 150 (or equivalent – for more information, speak to our undergraduate course advisers).

Prereqs: Good marks in Year 13 mathematics or university equivalent

Restrictions: If you have already passed STATS 210, you are not allowed to enrol into STATS 125.

Credit: Final exam 50%; test 20%; assignments 18%; tutorials 12% or final exam 60%; test 10%;assignments 18%; tutorials 12%. Must obtain at least 50% overall and at least 45% in the final exam to pass.

Website: STATS 125 website

The course concentrates on probability models and their applications in a variety of fields. Probability models are used in disciplines as varied as commerce and biology (e.g. calculating the probability that a share price will exceed a certain level or the probability that a population will become extinct). Probability underpins both statistics and (stochastic) operations research. The course will cover probability, conditional probability, Bayes' theorem, discrete distributions, expectation and variance, joint and conditional discrete distributions, definition and examples of Markov chains, random walks, hitting probabilities and times, equilibrium distributions. Illustrations will be drawn from a wide variety of applications including finance and economics, genetics, bioinformatics and other areas of biology, telecommunications networks, games, gambling and risk, and forensic science.

Topics studied include: Probability, conditional probability, Bayes theorem, random walks, Markov chains, probability models. Illustrations will be drawn from a wide variety of applications including finance and economics; biology; telecommunications, networks; games, gambling and risk.

Disclaimer:
Although every reasonable effort is made to ensure accuracy, this information for the course year (2024) is provided as a general guide only for students and is subject to alteration. All students enrolling at the University of Auckland must consult its official document, the University of Auckland Calendar, to ensure that they are aware of and comply with all regulations, requirements and policies.