Statistics

http://www-stat.wharton.upenn.edu

Statistics Concentration Advisor

Dr. Abraham Wyner - 448 JMHH (215-898-2439)

A key challenge now facing managers is the interpretation of the vast amount of data generated by computing systems. As these data do not directly answer important business questions, data analysis and statistics must be used to interpret them. Statistics courses develop the skills and insights required to make effective use of quantitative methods. They provide the knowledge needed to select and apply techniques and to communicate statistical results. Interpretation in realistic applications offers guiding examples; theory is used to generate and compare alternative schemes. All courses provide skills that augment substantive managerial abilities, along with exposure to computer software that implements key techniques.

The Concentration consists of 4 elective courses beyond the Business Fundamental requirement of two courses. The elective courses listed below are most suitable to undergraduates and most commonly taken by students in fulfillment of the concentration.  There are other courses not on this list, mostly PhD level classes, which may count towards the concentration with approval of the Concentration Advisor.

Required:
STAT 430: Probability

Three of:

STAT 432:  Mathematical Statistics
STAT 433:  Stochastic Processes
STAT 434:  Financial and Economic Time Series
STAT 471:  Intermediate Applied Statistics
STAT 472:  Decision Making Under Uncertainty
STAT 473:  Bioinformatics
STAT 475:  Sample Survey Design
STAT 476:  Applied Probability Models in Marketing
STAT 500:  Applied Regression and Analysis of Variance
STAT 501:  Introduction to Non-Parametric Methods/ Log-Linear Models
STAT 541:  Advanced Statistical Methods
STAT 711:  Forecasting Methods for Management
MATH 312: Linear Algebra* (cross-listed with MATH 412)
MATH 360 or MATH 361:  Advanced Calculus *
MATH 412:  Advanced Linear Algebra *
MATH 530:  Mathematical Methods in Finance*
ECON 222:  Advanced Econometrics*

All PhD level courses in statistics may count toward the concentration.  In addition, students seeking permission to count a non-Wharton course not currently included on the list above toward the concentration must consult with the Concentration Advisor for review and possible approval.

MATH 114 is a prerequisite for the STAT concentration. 

Students who take STAT 101 and 102 as Business Fundamentals should also take STAT 430 and then three more courses for the concentration. 

Students who take STAT 430 and 431 for the Business Fundamentals should take four more courses for the concentration.

Students may not take BOTH Stat 102 and Stat 431.

*Only one course outside the Statistics department may be used in the concentration.  MATH 508 or MATH 509 may be substituted for MATH 360 or MATH 361.

Sample Programs:

Frequently Asked Questions:

  1. I am interested in a quantitative career on Wall Street. Is there any sequence of courses that I should take? What should I take first?

It is probably best that you take the 430-431 sequence to fulfill your Business Fundamentals. These courses are more mathematically sophisticated than 101-102, although they do spend less time in applied data analysis. Statistics 433 and 434 are excellent first and second courses towards the fulfillment of your elective requirement. Since 433 is only offered every other year you should plan accordingly.  You may be interested in one of the upper level Math courses, like 360 or 530.  It is recommended that you take an intermediate level applied course which will introduce you to serious statistical computing (like Stat 471 or even Stat 541).

  1. I am more interested in Marketing than Finance. What course sequence is most appropriate?

You should start with 101-102, followed by Stat 430, 471 and 476. Stat 475 would be a good way to complete the Concentration, for example.

  1. Can Stat 431 count towards the Concentration?

Stat 431 can count as a Business Fundamental but never as an elective. Stat 430 can count as either a Business Fundamental OR an elective (but not both).

  1. Are there courses outside the Stat department that can count towards the Concentration?

Yes. Any PhD class in Statistics will count towards the Concentration. These courses are usually not appropriate for undergraduates. There are many courses both in and out of Wharton that many count as well.  You must get approval from the Concentration advisor.

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