Science Degree Program in China - Probability and Mathematical Statistics

1. Introduction

Probability Theory and Mathematical Statistics is a science that studies how to effectively collect, analyze and interpret data to extract information, build models and make inferences and predictions, and provide a basis for seeking the rules and making decisions. The characteristics of the program is to firmly grasp the important directions and topics of the international frontiers of the discipline, collaborative research and solid, strong theoretical research base; practical research can gradually expand and update research field according to the actual needs of the industry and trade and agricultural production, national economic and social development, and focus on the simulation and calculation of the statistics.

2. Main Content

1) Basic concepts of probability theory

2) Random variables and their probability distribution

3) Digital features

4) Law of large numbers and central limit theorem

5) Statistic and its probability distribution

6) Parameter estimation and hypothesis testing

7) Regression analysis

8) Variance analysis

9) Markov chain

3. Training Objectives

The program cultivates professional research talents in probability theory and mathematical statistics and teachers in higher education. The students master the basic theory and professional knowledge needed for the program, with the independent research ability and the ability to solve practical problems on the application of knowledge; can skillfully apply statistical software and the ability of establishing mathematical calculation program, with strong sense of innovation.

4. Research Directions

1) Information theory

2) Coding theory and cryptography

3) Stochastic process

4) Application of stochastic process in financial insurance

5) Quantitative finance and venture capital

6) Wavelet analysis and signal processing

7) Experimental design, multivariate analysis, applied statistics

8) Statistical quality control, applied statistics

5. Practical Applications

1) Weather, hydrology, earthquake prediction, population control and prediction are all closely related to probability theory;

2) Product sampling inspection, the newly developed drugs can be used in clinical applications, are required to use the hypothesis test;

3) Find the best production plan to carry out the experimental design and data processing;

4) The design of the electronic system, the development and the launch of the rocket satellite cannot be separated from the reliability estimation;

5) Deal with communication problems, need to study information theory

6) The time series analysis method is very useful to study the variation law of the sunspot;

7) Study the time variant rate of chemical reaction, and to describe the process of Markov process;

8) When the growth of the population in biology is studied, the birth death model is put forward, and the epidemic problem of infectious diseases should be used in multi variable nonlinear birth and death process;

9) Many service systems, such as telephone communication, ship loading and unloading, machine maintenance, patient waiting, inventory control, can be a probability model to describe and the knowledge involved is the queuing theory.

6. Employment Prospects

Graduates are mainly engaged in enterprises and the economy, the government management departments for development, application and management work like statistical investigation, statistical information management and quantitative analysis, or engaged in research and education department research and teaching work.

In recent years, the actuarial profession is a popular and well paid job, and it is a very good job in probability theory and mathematical statistics. The actuary is mainly engaged in the insurance company, financial analysis, consulting, business consulting, marketing consulting, health consulting, employee benefits programs, research projects, and so on. Besides, the actuary can also be engaged in the law firms, banks, investment companies, general consultants, direct selling company, public utilities, and other commercial and government units.

Actuaries work roles include: policy design and develop rate, evaluate solvency, draft contract, tax policy, asset assessment, strategic planning, product management, insurance management, risk management, corporate finance, investment analysis and management, information management.

The condition to be an actuarial:

In order to become an actuarial, must first master some basic courses, such as calculus, linear algebra, probability theory and mathematical statistics, insurance and risk management, etc. Not only that, the actuarial profession is engaged in the occupation of the economic field, so they must also have higher economic accomplishment, master accounting, finance, economics and computer science. In this way, the actuarial ability of the economic environment changes has a strong reaction. In addition, the occupation of the actuarial profession also requires the mastery of language expression, business writing, philosophy and other scientific knowledge to obtain the qualification of the actuarial qualifications must pass the strict examination of some subjects, and obtain the approval of the actuarial organization. 

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