Need Help With Advanced Statistics?
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Although the most common case we help students with is elementary statistics, we also commonly see students undertaking advanced stats classes that they need help with. One could think that if you went ahead a took a advanced stats class, why would even need help?
Well, that makes sense: you are good at Stats, you got an A in your Stats 101 class, and now you feel confident that this Advanced Stats class would look great in your CV when you apply for that Quant firm. But then, oh surprise, that class really delivered, it actually pretty advanced, huh?
To a certain degree, it is not completely easy to classify a stats class as "basic" or "advanced". It is not that black-and-white. For the purpose of this article, I will call BASIC to any Stats 101 class, and I will call ADVANCED any Stats course that is beyond Stats 101, and that has Stats 101 as a pre-requisite.
Why would you take an Advanced statistics course?
Good question! Why would you? If you are math major, well, it makes sense, but let's say you are not. Why would you take an advanced Stats class? The most frequent reasons I hear from is that it can advance them in their prospect of getting in the Financial industry. And that is actually a good motivation.
Now, there is a little trade off situation going on in this case. Advanced stats classes will typically be more challenging to get a 4.0 on. It is just how it is. So then, you may take it to enhance your skill set, but it may eventually hurt your overall GPA. Which in turn can hurt your chances of getting that job (and the Lambo's and all that stuff).
So, you really need to evaluate your situation carefully: How much taking this class will strengthen and benefit my job application, and what kind of risk I take of hurting my GPA if I don't get an A in the class. Trade off decisions. Decisions, decisions, decisions. Welcome to real life!
What are the most common Advanced statistics topics
Again, it is hard to say, because it depends on the situation. Also, we need to consider that graduate Stats courses are a different beast altogether. So, let us assume you are still taking an undergrad Stats course (and advanced one).
You will typically cover the same as in the Stats 101 course, but with way more depth and mathematical rigor. There will likely more emphasis in experimental design and statistical power. You may get into results like the Neyman-Pearson lemma and ideas like a sufficient statistics. It can get hairy. For reals.
Are there any free statistics courses out there?
You bet! Nowadays there is a plethora of online platforms that offer free statistics course at all levels. This includes Coursera, MIT opencourseware, etc. And some of them even for a nominal fee can get you certificates of completion, which to some degree can be useful for your career.
Sometimes, these free online courses could be a really good way to get your feet wet in terms of exposing yourself to advanced statistics content. This way, you can find out before paying tuition money if you are advanced statistics are a good match.
And also, if you do poorly in the free online courses, there will be no consequences, whereas if you go straight into an official class and you do poorly, you may end up with an F, which can really hurt your chances at many levels.
Summarizing, should I take an advanced statistics class
- It is a trade off game, you will have to assess if its benefits outweigh the risks
- The benefits are to enhance your skill set if you want to get a job say in the Financial industry
- The risk is that advanced stats can be more challenging, and you may end up not getting an A
- It would be a good idea to get your feet wet and try advanced stats course in a free platform, to assess how you feel with that kind of content
Either if it is an elementary statistics final exam or the final for a super advanced class, Stats is always difficult when you take a test, especially when your confidence is running at low levels. From my experience seeing thousands of students succeed, it is an important step to get the objective in mind, but not to let anxiety take over.
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