RMI 3750 - Risk Modeling

3 Credit Hours
Prerequisites: MATH 1113.
Corequisites: MGS 3100.
Requirements: Must meet RCB upper division course requirements and 45 semester hours.

Description
This course introduces students to the principles of probability theory and risk simulation analysis. Specific topics covered include probability theory; descriptive statistics and graphical representations of data; probability distribution functions including binomial, Poisson, Normal and other functions; sampling distributions and the Central Limit Theorem; estimation and goodness-of-fit tests; and static and dynamic Monte Carlo simulation models. Spreadsheet simulation exercises are used extensively to illustrate the concepts. The applications are drawn from a variety of areas where risk analysis has become important including finance, insurance, corporate risk management and personal financial planning.