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Text Recommendations
(Cross posted on Books & Software)
I'm looking to take the first actuarial science exam (Probability) this Spring and I'd like to get some books to study for it. The topics on the exam are as follows: General Probability - Set functions including set notation and basic elements of probability - Mutually exclusive events - Addition and multiplication rules - Independence of events - Combinatorial probability - Conditional probability - Law of total probability - Bayes’ Theorem Univariate probability distributions (including binomial, negative binomial, geometric, hypergeometric, Poisson, uniform, exponential, chi-square, beta, Pareto, lognormal, gamma, Weibull, and normal). - Probability functions and probability density functions - Cumulative distribution functions - Mode, median, percentiles, and moments - Variance and measures of dispersion - Moment generating functions - Transformations Multivariate probability distributions (including the bivariate normal) - Joint probability functions and joint probability density functions - Joint cumulative distribution functions - Central Limit Theorem - Conditional and marginal probability distributions - Moments for joint, conditional, and marginal probability distributions - Joint moment generating functions - Variance and measures of dispersion for conditional and marginal probability distributions - Covariance and correlation coefficients - Transformations and order statistics - Probabilities and moments for linear combinations of independent random variables Note that the emphasis is on applying these concepts in a risk management context. Can anyone recommend a good text or texts that cover/s all of these topics well (and hopefully more)? |
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