ST301-15 Bayesian Statistics and Decision Theory

ST301-15 Bayesian Statistics and
Decision Theory
20/21
Department
Statistics
Level
Undergraduate Level 3
Module leader
Xavier Didelot
Credit value
15
Module duration
10 weeks
Assessment
Multiple
Study location
University of Warwick main campus, Coventry
Description
Introductory description
This module runs in Term 1 and aims to demonstrate how to build Bayesian models and to train
students in the rudiments of decision analysis. It is available for students on a course where it is a
listed option and as an Unusual Option to students who have completed the prerequisite modules.
Pre-requisites:
Statistics Students: ST218 Mathematical Statistics A AND ST219 Mathematical Statistics B
Non-Statistics Students: ST220 Introduction to Mathematical Statistics
Results from this module can be partly used to determine exemption eligibility in the Institute and
Faculty of Actuaries (IFoA) module CS1 Actuarial Statistics.
Module web page
Module aims
Bayesian statistics is one of the fastest growing areas in statistics. With the advance of computer
technology it is now a highly practical methodology for addressing many important high
dimensional decision problems as well as being underpinned by a sound mathematical foundation.
It is especially useful when some of the components of uncertainty have only sparsely collected
data associated with them, so that expert judgements need to be incorporated.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be
covered. Actual sessions held may differ.
• Loss/pay-off functions.
• Posterior updating.
• Idiot Bayes.
• Decision trees and the extensive form solution.
• Utility functions — use and elicitation.
• Multiattribute utility functions.
• Forecast scoring.
• The normal form solution.
• DAGS.
• Conjugate priors.
Learning outcomes
By the end of the module, students should be able to:
• To understand how Bayesian models are built and evaluated. Appreciate idiot Bayes models
and issues such as calibration.
• To perform basic prior to posterior analysis. To perform discrete prior to posterior inference
and beta and Dirichlet conjugate analysis.
• To understand the foundation of utility theory and apply it in a multi-attribute context. To be
able to elicit a utility function.
• To understand how to model complicated systems in terms of conditional independences. To
appreciate the structuring of models through DAGs. To be able to estimate probabilities in
DAGs using conjugate product Dirichlet distributions.
Indicative reading list
View reading list on Talis Aspire
Subject specific skills
TBC
Transferable skills
TBC
Study
Study time
Type Required Optional
Lectures 30 sessions of 1 hour (20%) 2 sessions of 1 hour
Tutorials 3 sessions of 1 hour (2%)
Private study 117 hours (78%)
Total 150 hours
Private study description
Weekly revision of lecture notes and materials, wider reading, practice exercises and preparing for
examination.
Costs
No further costs have been identified for this module.
Assessment
You do not need to pass all assessment components to pass the module.
Students can register for this module without taking any assessment.
Assessment group B1
Weighting Study time

2 hour examination (Summer) 100%
The examination paper will contain four questions, of which the best marks of THREE questions
will be used to calculate your grade.
~Platforms - Moodle
Assessment group R
Weighting Study time

2 hour examination (September) 100%
The examination paper will contain four questions, of which the best marks of THREE questions
will be used to calculate your grade.
~Platforms - Moodle
Feedback on assessment
Solutions and cohort level feedback will be provided for the examination.
Past exam papers for ST301
Availability
Anti-requisite modules
If you take this module, you cannot also take:
• ST413-15 Bayesian Statistics and Decision Theory with Advanced Topics
Courses
This module is Core optional for:
• Year 3 of USTA-G300 Undergraduate Master of Mathematics,Operational

Research,Statistics and Economics
• USTA-G301 Undergraduate Master of Mathematics,Operational Research,Statistics and
Economics (with Intercalated
○Year 3 of G30G Master of Maths, Op.Res, Stats & Economics (Operational Research
and Statistics Stream) Int
○Year 4 of G30G Master of Maths, Op.Res, Stats & Economics (Operational Research
and Statistics Stream) Int
This module is Optional for:
• Year 3 of UCSA-G4G1 Undergraduate Discrete Mathematics

• Year 3 of UCSA-G4G3 Undergraduate Discrete Mathematics
• Year 4 of UCSA-G4G2 Undergraduate Discrete Mathematics with Intercalated Year
Economics
○Year 3 of G300 Mathematics, Operational Research, Statistics and Economics
○Year 4 of G300 Mathematics, Operational Research, Statistics and Economics
• Year 3 of UMAA-GL11 Undergraduate Mathematics and Economics
• Year 4 of UECA-GL12 Undergraduate Mathematics and Economics (with Intercalated Year)
This module is Option list A for:
• Year 3 of USTA-G302 Undergraduate Data Science

• Year 3 of USTA-G304 Undergraduate Data Science (MSci)
• Year 4 of USTA-G303 Undergraduate Data Science (with Intercalated Year)
• USTA-G1G3 Undergraduate Mathematics and Statistics (BSc MMathStat)
○ Year 3 of G1G3 Mathematics and Statistics (BSc MMathStat)
○ Year 4 of G1G3 Mathematics and Statistics (BSc MMathStat)
• Year 4 of USTA-G1G4 Undergraduate Mathematics and Statistics (BSc MMathStat) (with
Intercalated Year)
• Year 3 of USTA-GG14 Undergraduate Mathematics and Statistics (BSc)
• Year 4 of USTA-GG17 Undergraduate Mathematics and Statistics (with Intercalated Year)
• Year 3 of USTA-Y602 Undergraduate Mathematics,Operational Research,Statistics and
Economics
• Year 4 of USTA-Y603 Undergraduate Mathematics,Operational
Research,Statistics,Economics (with Intercalated Year)
This module is Option list B for:
• UMAA-G105 Undergraduate Master of Mathematics (with Intercalated Year)

○Year 3 of G105 Mathematics (MMath) with Intercalated Year
○Year 5 of G105 Mathematics (MMath) with Intercalated Year
○Year 3 of G30E Master of Maths, Op.Res, Stats & Economics (Actuarial and Financial
Mathematics Stream) Int
○Year 4 of G30E Master of Maths, Op.Res, Stats & Economics (Actuarial and Financial
Mathematics Stream) Int
• Year 3 of UMAA-G100 Undergraduate Mathematics (BSc)
• UMAA-G103 Undergraduate Mathematics (MMath)
○Year 3 of G103 Mathematics (MMath)
○Year 4 of G103 Mathematics (MMath)
• UMAA-G106 Undergraduate Mathematics (MMath) with Study in Europe
○Year 3 of G106 Mathematics (MMath) with Study in Europe
○Year 4 of G106 Mathematics (MMath) with Study in Europe
• Year 4 of UMAA-G101 Undergraduate Mathematics with Intercalated Year
This module is Option list E for:

Research,Statistics and Economics (with Intercalated
This module is Option list F for:

○Year 3 of G30H Master of Maths, Op.Res, Stats & Economics (Statistics with
Mathematics Stream)
○Year 4 of G30H Master of Maths, Op.Res, Stats & Economics (Statistics with
Mathematics Stream)

ST301-15 Bayesian Statistics and Decision Theory

Uploaded by

Copyright:

Available Formats

ST301-15 Bayesian Statistics and Decision Theory

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

ST301-15 Bayesian Statistics and Decision Theory

Uploaded by

Copyright:

Available Formats

ST301-15 Bayesian Statistics and

Module web page

By the end of the module, students should be able to:

Indicative reading list

View reading list on Talis Aspire

Subject specific skills

Private study description

Weighting Study time

Weighting Study time

Past exam papers for ST301

If you take this module, you cannot also take:

• ST413-15 Bayesian Statistics and Decision Theory with Advanced Topics

• Year 3 of USTA-G300 Undergraduate Master of Mathematics,Operational

This module is Optional for:

• Year 3 of UCSA-G4G1 Undergraduate Discrete Mathematics

This module is Option list A for:

• Year 3 of USTA-G302 Undergraduate Data Science

This module is Option list B for:

• UMAA-G105 Undergraduate Master of Mathematics (with Intercalated Year)

This module is Option list E for:

• Year 4 of USTA-G300 Undergraduate Master of Mathematics,Operational

This module is Option list F for:

• Year 3 of USTA-G300 Undergraduate Master of Mathematics,Operational

You might also like