Unit convenor and teaching staff |
Unit convenor and teaching staff
Pavel Shevchenko
|
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Credit points |
Credit points
10
|
Prerequisites |
Prerequisites
STAT2372
|
Corequisites |
Corequisites
|
Co-badged status |
Co-badged status
This unit is co-badged
ACST8083
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Unit description |
Unit description
This unit examines the use of statistical models in the general insurance context. Applications will include linear models and generalised linear models and Bayesian statistics including Credibility Theory. Students gaining a credit average across STAT2372, STAT2371 and ACST3061 (minimum mark of 60 on all three units) will satisfy the requirements for exemption from the professional subject CS1 of the Actuaries Institute. |
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Late Assessment Submission Penalty (written assessments)
Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Formal and observed learning: Exam | 60% | No | during university examination period |
Skills development: Solving problems with R | 25% | No | Week 12 |
Formal and observed learning: Test | 15% | No | Week 7 |
Assessment Type 1: Examination
Indicative Time on Task 2: 28 hours
Due: during university examination period
Weighting: 60%
The purpose of this assessment is for you to demonstrate the expertise you have gained in Actuarial Statistics.
You will participate in a 3-hour exam held during the University Examination period. Important information about the exam will be made available on the unit iLearn page. you should also review the MQ Exams website for general tips.
Deliverable: Formal exam Individual assessment
Assessment Type 1: Quantitative analysis task
Indicative Time on Task 2: 20 hours
Due: Week 12
Weighting: 25%
The purpose of this assessment is for you to develop your digital skills in using R to solve problems.
You will develop statistical modelling and data analysis skills using R. They will apply maximum likelihood estimation, implement linear regression methods, and explore generalised linear models (GLMs). Additionally, they will apply Bayesian statistics and credibility theory to real-world problems, particularly in insurance and actuarial contexts.
Skills in focus: - Statistical modelling and estimation - Data analysis using R
Deliverable: Written report Individual assessment
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Week 7
Weighting: 15%
The purpose of this assessment is for you to demonstrate your understanding and knowledge of key topics from the unit.
You will participate in a formal test.
Deliverable: Test Individual assessment
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Please refer to iLearn
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Unit information based on version 2025.04 of the Handbook