Transcript Single Major in Business Statistics

Information Session on
Second Major in
Applied Statistics (APS)
Prepared by Kwong Koon Shing
25 September 2009
School of Economics
1
What does a statistician do?
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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
25 September 2009
School of Economics
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Examples of statistics applied on real-life problems
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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)
25 September 2009
School of Economics
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What skills are need
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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
25 September 2009
School of Economics
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Important changes in the statistics major
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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
25 September 2009
School of Economics
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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
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to enhance the understanding of how statistics
is applied in real life issues
25 September 2009
School of Economics
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Number of compulsory courses reduced to 2
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Introductory Statistics (STAT101) or
Introduction to Statistical Theory (STAT151)
Probability Theory and Applications (STAT201)
(no minimum grade requirement of STAT101 for
taking STAT201)
25 September 2009
School of Economics
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Classify the elective courses into two categories
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Take any three courses in the Methodology Category:
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Survey Methods (STAT204)
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Computational Statistics (STAT205)
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Applied Stochastic Models (STAT306)
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Applied Regression Methods (STAT312)
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Intermediate Mathematics for Economics (ECON205)
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Economic Forecasting (ECON233)
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Other approved courses
Take any three courses in the Application Category:
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Applied Econometrics (ECON107)
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Intermediate Econometrics (ECON207)
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Financial Econometrics (ECON221)
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Life Contingent Risks (STAT310)
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Risk Theory and Loss Models (STAT311)
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Quantitative Risk Analysis (STAT313)
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Investment and Financial Data Analysis (QF302)
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Marketing Research (MKTG103)
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Other approved courses
Courses removed from the old curriculum:
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Advanced Mathematical Methods (ECON305)
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Management Science (OPIM101)
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Financial Mathematics (STAT203)
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Financial Data Analysis (Replaced by ECON233)
25 September 2009
School of Economics
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How the new curriculum affects you
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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
25 September 2009
School of Economics
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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)
25 September 2009
School of Economics
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New APS website and flyers
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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
25 September 2009
School of Economics
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The End
Thanks
25 September 2009
School of Economics
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