UNIVERSITY OF WOLLONGONG

STAT201: Random Variables and Estimation

Comprehensive Study and Exam Preparation Guide 2026

Part 01. Revision Notes

Part 02. Sample Final Examination Paper

Part 03. Suggested Solutions to Final Exam Paper

Part 04. Final Examination - Hints and Tips

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University of Wollongong - STAT201: Random Variables and Estimation (Solutions)

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ACADEMIC YEAR 2025 - 2026

University	University of Wollongong
Study Level	Undergraduate
Subject Code	STAT201
Subject Name	Random Variables and Estimation
Notes Title	Comprehensive Study and Exam Prep. Guide
Page Length	76

Get ready for STAT201 at the University of Wollongong with this student-friendly guide. Designed for self-study from week one to your final review, it explains concepts clearly and walks through the full set of examinable topics covered in lectures. You’ll find practical guidance on the exam format, the types of questions to expect, and the high-priority ideas to focus on. Use it to reinforce class material, check your understanding with worked explanations, and streamline revision. Keep it beside you as a quick reference to study smarter, build confidence, and lift your exam performance.

STAT201 is the second statistics subject following STAT101. It provides the theoretical foundation (introductory probability theory) for more advanced statistics subjects which rely on this theory. It builds on STAT101 and introduces new discrete random variables (Poisson distribution, Hypergeometric, Uniform) and new continuous random variables (Exponential and Gamma distributions, Uniform, Beta and Cauchy), and teaches concepts such as expected values; transformations; moment generating functions; mutlivariate distributions; the Law of large numbers; and the Central Limit Theorem. STAT201 also introduces the major estimation and hypothesis testing concepts and many common analysis techniques. Topics include inference techniques, which include sampling distributions (such as the chi-squared, t and F distributions), methods and criteria of estimation. and hypothesis testing and investigates the relationship between Size, Power and sample size. Students will learn a popular freely available statistical software package that has become increasingly important in recent years in academia, and in the job market.

Pre-requisites: ((MATH188 or MATH110 or MATH142) and (STAT101 or STAT131)) or MATH283.

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ACCY111	Accounting Fundamentals in Society
ACCY121	Accounting for Decision Making
ACCY200	Financial Accounting
ACCY201	Advanced Financial Accounting
ACCY211	Management Accounting
BUS 121	Statistics for Business
ECON100	Economic Essentials for Business
ECON205	Macroeconomic Theory and Policy
ECON215	Microeconomic Theory and Policy
ECON339	Applied Economic and Financial Modelling
FIN 111	Introductory Principles of Finance
FIN 222	Corporate Finance
FIN 223	Investment Analysis
FIN 226	Financial Markets and Institutions
FIN 322	Advanced Corporate Finance
LAW 101	Introduction to Law
MARK101	Marketing Principles
MGNT201	Organisational Behaviour
STAT101	Introduction to Statistics
STAT201	Random Variables and Estimation
STAT251	Fundamentals of Biostatistics
STAT332	Generalised Linear Models

TOVO.

University of Wollongong - STAT201: Random Variables and Estimation (Solutions)

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