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Career Description
Mathematicians and statisticians develop and apply mathematical or statistical techniques to solve problems in fields such as physical and biological science, engineering, social science, business, and economics.

Actuaries apply mathematics, probability, statistics, and risk theory to calculate future risks for insurance and annuity premiums/benefits.

Duties May Include
The following is a summary of main duties for the occupations in this unit group:

Mathematicians conduct research to extend mathematical knowledge in traditional areas of mathematics such as algebra, geometry, probability and logic and apply mathematical techniques to the solution of problems in scientific fields such as physical science, engineering, computer science or other fields such as operations research, business or management.

Statisticians conduct research into the mathematical basis of the science of statistics, develop statistical methodology and advise on the practical application of statistical methodology. They also apply statistical theory and methods to provide information in scientific and other fields such as biological and agricultural science, business and economics, physical sciences and engineering, and the social sciences.

Actuaries apply mathematical models to forecast and calculate the probable future costs of insurance and pension benefits. They design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, pension and superannuation plans. They may assist investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.

Examples of Titles
Actuary
Biostatistician
Demographer
Mathematician
Statistical Analyst
Statistician

Sources
©www.jobfutures.ca, courtesy of the Social Development Canada, 2005.

Updated Friday, May 05, 2006

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