Name: Stochastic Processes, Markov Chains and Markov Jumps
SKU: 52719
Availability: InStock

Description

We then work through an impossible exam question that caused the low pass rate in the 2019 sitting.

By MJ the Fellow Actuary

The basics of Stochastic Processes and Markov Chains

An understanding of actuarial statistics is required

In this course we look at Stochastic Processes, Markov Chains and Markov Jumps

This question requires you to have R Studio installed on your computer.

Things we cover in this course:

Section 1

Stochastic Process

Stationary Property

Markov Property

White Noise

Increments

Random Walks

Section 2

Markov Chains

Transition Probabilities

Chapman-Kolmogorov Equations

Transition Matrix

Stationary Probability Distributions

Irreducibility

Periodicity

Section3

R Studio Exam Question

Section 4

Markov Jump Process

Transition and Survival Probabilities

Kolmogorov’s Forward Differential Equation

Transition Rates

Generator Matrix

Kolmogorov’s Backward Differential Equation

Actuarial Students writing the professional exams

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