SCHOOL BOASTS NATIONAL PRIZE WINNER
The School of Statistics and Actuarial Science has produced a winner in a national statistics competition for Masters and PhD students for the third consecutive year.
Mr Ahmed Essay outclassed students from other South African universities to take first prize in the Postgraduate Student Paper Competition organised by the South African Statistics Association (SASA).
Registered for an MSc in Financial Mathematics under Professor John O’Hara, Mr Essay joins previous UKZN winners, Mr Nishay Vithal (2007 winner) and Mr Jordache Ramjith (2008 winner).
The annual competition is sponsored by Stats SA and forms “part of their drive to provide financial assistance to deserving students who show promise and diligence in their statistical work”.
His paper is titled: ‘Pricing a European exchange option driven by Merton’s jump diffusion model using the Esscher Transform.’
He will receive a monetary award and be sponsored to attend the 57th Session of the International Statistics Institute Conference – the biggest Statistics conference in the world – where he will deliver his winning paper.