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Information Session on Second Major in Applied Statistics (APS)

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Quantitative: statistics and mathematics. Problem solving technique: analysis, organizing and managing projects ... Intermediate Mathematics for Economics ... – PowerPoint PPT presentation

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Title: Information Session on Second Major in Applied Statistics (APS)


1
Information Session on Second Major in Applied
Statistics (APS)
  • Prepared by Kwong Koon Shing

2
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

3
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)

4
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

5
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

6
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

7
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)

8
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

9
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

10
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)

11
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

12
The End
  • Thanks
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