# March 9: Statistics and Data Science in Practice

This week we spotlight our introductory statistics courses, and take a look at supposed “need to know” statistical concepts for data science.

See you in class!

Peter Bruce
Founder of The Institute for Statistics Education at Statistics.com

# News You Need to Know

What’s happening in the field of Data Science, Analytics, Statistics?

## STATISTICS IN PRACTICE – What you need to know about statistics…

As the popularity of data science has grown, so too has advice on how to get jobs in data science. A common form of advice is a list of sample questions you might be asked at your job interview (see here and here for examples). Often, the list starts out with statistics, but beware: it may give bad advice. ()

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## PUZZLE OF THE WEEK – Gambler’s Ruin

Which is better – wealth or ability? Fred Mosteller posed this question in his classic 1965 small compendium Fifty Challenging Problems in Probability, in the context of the Gambler’s Ruin puzzle. Two players engage in a game in which ()

## WORD OF THE WEEK – Ruin Theory

The classic Gambler’s Ruin puzzle has an actuarial parallel: “Ruin Theory,” the calculations that govern what an insurance company should charge in premiums to reduce the probability of “ruin” for a given insurance line. “Ruin” means encountering claims that exhaust initial reserves plus accumulated premiums. ()

## COURSE SPOTLIGHT

Our spotlight this week is on our introductory statistics sequence. This course is approved by the American Council on Education for credit approval as the equivalent of a one-semester course in statistics. It uses a resampling approach to illustrate inference, instead of formulas, and stresses the connection between statistics and data science. \$599, all materials provided.

April 2: Introductory Statistics (8 weeks)

May 7: Introductory Statistics (8 weeks)

and the beginning of each month thereafter