CS1B – Actuarial Statistics (Modelling in R)

Course Overview

CS1B focuses on the practical application of statistical methods using programming and data analysis tools, primarily in R programming. This course trains students to implement statistical models, simulate distributions, perform exploratory data analysis, and interpret real datasets with actuarial relevance. It complements CS1A by translating theory into executable models and actionable insights.

Key Focus Areas

• Data import, cleaning, transformation, and visualisation using R

• Exploratory data analysis and summary statistics

• Simulating data from probability distributions

• Estimating parameters and fitting models using R functions

• Implementing hypothesis tests and interpreting test results

• Building and evaluating linear and generalised linear models

• Bayesian modelling techniques and credibility applications in R

Course Outcome

CS1B enables students to develop hands-on experience with statistical software and modelling workflows expected in the actuarial industry. By the end of the course, students will be confident in applying their statistical knowledge to structured datasets and communicating their findings effectively in line with the IFoA CS1B paper requirements.