Information Session on Second Major in Applied Statistics (APS)

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Information Session on Second Major in Applied
Statistics (APS)

• Prepared by Kwong Koon Shing

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What does a statistician do?

• collect data
• analyze data
• draw practical conclusion from data
• Examples of a career in statistics
• actuary
• biostatistician
• quality control statistician
• government statistician
• market research statistician
• risk analyst
• university professor

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Examples of statistics applied on real-life
problems

• Establish the model to predict the impact of H1N1
  outbreaks in Singapore (stochastic modeling)
• Determine the Singapore Consumer Price Index
  (sampling)
• Estimate the Singapore aging population
  (estimation)
• Statistics used in courtroom (hypothesis testing)
• Reduce junk mail using data mining techniques
  (decision analysis hypothesis testing)
• Determine the randomness in the Singapore stock
  market (time series regression)
• Set up an experiment for testing the safety of a
  new toy (experimental design)
• Apply in business process improvement by using
  six sigma technique (statistical quality control)
  
• Assess the credit risk of debtor (risk analysis)
• Discourage gambling (probability theory)

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What skills are need

• Quantitative statistics and mathematics
• Problem solving technique analysis, organizing
  and managing projects
• Communication verbal, written, and teamwork
• Computing use of statistical software and
  programming
• Knowledge of other discipline for practical
  applications

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Important changes in the statistics major

• Practice Associate Professor Kwong Koon Shing was
  appointed as the chairman of Statistics Committee
  in the School of Economics on 22 July 2009
• Second major in Business Statistics is changed to
  second major in Applied Statistics (APS)
• The curriculum of the major has been revamped

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Second major in Applied Statistics (APS)

• Objectives of APS
• to equip students with quantitative skills with a
  firm foundation in statistical theory
• to enhance the understanding of how statistics is
  applied in real life issues

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Number of compulsory courses reduced to 2

• Introductory Statistics (STAT101) or Introduction
  to Statistical Theory (STAT151)
• Probability Theory and Applications (STAT201)
• (no minimum grade requirement of STAT101 for
  taking STAT201)

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Classify the elective courses into two categories

• Take any three courses in the Methodology
  Category
• Survey Methods (STAT204)
• Computational Statistics (STAT205)
• Applied Stochastic Models (STAT306)
• Applied Regression Methods (STAT312)
• Intermediate Mathematics for Economics (ECON205)
• Economic Forecasting (ECON233)
• Other approved courses
• Take any three courses in the Application
  Category
• Applied Econometrics (ECON107)
• Intermediate Econometrics (ECON207)
• Financial Econometrics (ECON221)
• Life Contingent Risks (STAT310)
• Risk Theory and Loss Models (STAT311)
• Quantitative Risk Analysis (STAT313)
• Investment and Financial Data Analysis (QF302)
• Marketing Research (MKTG103)
• Other approved courses

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How the new curriculum affects you

• Students who have declared APS major before the
  changes of curriculum should follow the old
  curriculum. However, the proposed new list of
  electives will still applicable to them
• Students who declare APS major after the launch
  of new curriculum should follow the new curriculum

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Time frame to phase in the new courses

• Term 1, 2009/2010
• Applied Regression Methods (STAT312)
• Economic Forecasting (ECON233)
• Term 2, 2009/2010 (subject to change and depend
  on demand)
• Applied Stochastic Models (STAT306)
• 2010/2011 (subject to change and depend on the
  demand)
• Economic Forecasting (ECON233)
• Quantitative Risk Analysis (STAT313)
• Applied Regression Methods (STAT312) or/and
  Computational Statistics (STAT205) or/and Survey
  Methods (STAT204)

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New APS website and flyers

• Updated information of curriculum is now
  available in the new APS major website
• New statistics major flyers are distributed on
  campus to promote and introduce the new
  curriculum

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The End

• Thanks