The College of Charleston Department of Mathematics recently announced the offering of two summer semester graduate-level Statistics courses, which will be live-streamed to the Lowcountry Graduate Center. The courses, Resampling Methods in Statistics and Time Series Analysis, are directed at students with a solid background in mathematics, and offer a combination of theoretical insights and real-world world applications. Dr. Martin Jones, co-director of the Graduate Program in Mathematics and instructor for the Time Series Analysis course, suggests that both courses offer unique opportunity for Lowcountry professionals, particularly those in the mathematics, statistics, engineering and economics fields: “These are courses that are very valuable to professionals using statistics, as well as practicing statisticians. However, quite often it is difficult to see courses like this offered on a regular basis.”
The Resampling Methods in Statistics course, taught by Dr. Jim Young, will address one of the primary aims of statistics: estimating the parameters in statistical models. Through the use of computer stimulations, and techniques such as the bootstrap and the jackknife, students will be able to construct confidence interval estimates for these parameters. Professionals working in healthcare and medical services, or advanced manufacturing, may find that resampling methods provide a simple means of estimating measurable variables, such as those associated with a patient, or a production line. Resampling methods may also be used to determine whether a particular machine needs to be recalibrated. “Resampling methods can be applied in any statistical application that someone might be working on now. These methods are very flexible and highly applicable,” explains Jones.
The Time Series Analysis course will cover a collection of methods designed for analyzing time series data: a sequence of data points measured at consecutive uniform time intervals. Time series data are frequently subject to autocorrelation, and require specialized techniques to ensure that the data will be accurately interpreted. Professionals might use these specialized techniques when trying to establish trends or forecast changes, such as when observing a patient’s biomarkers over time. Time series analysis may also be helpful in production-oriented facilities, as they can help to ensure consistent quality control. Using real-world data sets and statistics software “R”, students in this course will gain an understanding of the theories and applications of time-series analysis, including stationary processes, forecasting techniques, ARMA models, spectral analysis, non-stationary and seasonal models, and multivariate time series.
While both courses can be applied toward graduate programs in mathematics and statistics currently offered at the College of Charleston, they also serve as excellent ‘stand-alone’ or ‘refresher’ course options for Lowcountry professionals. Individuals whose work frequently incorporates statistical modeling and data analysis may benefit from learning about the latest developments in the field, as well as seeing how the current methodology and advances in statistical software might facilitate their endeavors.
Resampling Methods in Statistics will be offered in the Summer I term (June 3 – July 2); Time Series Analysis will be offered in the Summer II term (July 7 – August 5). Further information about these exciting course offerings may be found in the Statistics Summer 2016 course brochure.