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excel learnerFlag for United Kingdom of Great Britain and Northern Ireland

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Statistics coaching

Dear experts,

I am planning to pursue MS in Financial Engineering.

I come with a commerce background and do not have statistics background.

I am looking for anyone/online course which can teach me college level statistics. Please find attached the front page of the book which i intend to cover. I am looking for a resource which can teach me the subject.

I live in Visakhapatnam, India.

Kindly guide.

Thank you
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Hi there Excellearner,

I think that there are 2 separate paths that you can go down.

ONE: Mathematical statistics - this will establish the mathematical underpinning of statistical techniques and is probably addressed by your book.  It is going to assume that you are familar with calculus (integratation and differation), complex numbers, limits, infinite series, set theory, measure theory and so on.  If you are not familiar with these and other mathematical concepts you WILL flonder in a course of mathematical statistics.  However when you complete a mathematics statistics course you will know why statistical tests (see below) work and have enough know-how to propose new or amended statistical procedures perhaps to process data on really special cases.  You will not necessarly get lots of practice on running statistical analysis on real world problems.

TWO: Usage of statistics - this will introduce you to various statistical processes that you can use on real data, how to analyse data and make assertions about whole populations based of the results of calculations on a sample.  It is only rarely that you will need any of the mathematics  I mentioned above, There is going to be lots of numerical processing - though that is what computers are for .
It will teach you what techniques are suitable for different types of data -
  • continuous variables like measurements of height for all people within a region;
  • counts like number of customers with more than one bank account;
  • time series like customers balance at 31 Dec each year for many years;
  • binary data like  is the customer born in the state where thay are doing business;
  • ...,
and how to set up computer statistical packages to get valid results.
A good statistical course here will give you lots of practics on running analysis on real world problems, though there are statistics courses aimed at particular subject areas like -
  • biology,
  • engineering,
  • economics,
  • psychology,
  • medicine,
  • and so on
where problems and data unique to those disiplines are the main focus.

Please tell us what is your aim?

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Hi ShannonEE,

Thank you for the detailed analysis. It is very helpful.
It helped me identify why there were so many books on statistics. Few I found I could do it on my own (guidance would be certainly required) but not impossible to achieve.
I am attaching a snap of the contents of the he book I have mentioned in my question.

I am a Chartered Accountant by background. I have changed 4 career paths till date. I now find that I am liking risk management in Banks (liquidity, market, credit risk). I got frustrated when I found that the risk management required a deeper understanding of mathematics and statistics (programming included).
So I found that  in order to excel in this field I need to do MFE (Masters in Financial Engineering). I also found that I was good in numbers.

So I am completing (as we discuss) the following books/chapters thoroughly to gain understanding of mathematics. I expect to complete Calculus (Differentiation/Integration) by May this year.

First year

Second year
I am also attaching a few documents from various universities which detail the pre-requisites.

I am looking for help on Set theory, as this does not require calculus.
Hope the above clarifies my journey.

Kindly help me on set theory.
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Hi Shannon,
First let me thank you for the time you have given to my question (right from the start).

Your statement:
Anyone who has mastery of all those pre-requirements would be able to sail through the MSc with their eyes shut.

My idea: Precisely, my idea is this. Thank you for your statement. It is assuring for me. I feel confident with your statement. I will try to cover/complete stochastic calculus by the time I join the Uni in Aug/Sep 2019.

Your statement:
Hence I see that the pre-requirements are going to represent a solid base and hence is not going to be particularly easy, typically requiring something like the equivalent of 2 years of undergraduate study.
My status: All I do from dawn to dusk is study (math) for about 12 hours a day. I have time till Aug/Sept 19. I am happy to start Statistics once I find someone who is willing to help me for an hour a day.
I am also learning C/C++/Python/R

Your statement: … require more time and a huge dedication
My view: If it does not take this level of effort, I would not be doing this course at all.
I am not trying to add rhetoric. I am 46 and as I mentioned I have changed 4 different career/lines of business.

Your statement:  This website is not gearded up to provide tutition.

My view: I completely agree. I was only looking for suggestion on a website/online teaching method which covers one topic at a time and self-paced.

Your statement:  My contract of employment will not allow me to undertake additional paid tutition work of the kind you need.

My status: Sad. But it is good I have interacted with you. You have given me both insight into the subject and the confidence that my path/strategy is not bad. In case you come across anyone who is willing to help me, please let him know that I am available on this website. I have been on this website for 13 years and I have always got good directions/guidance. I am confident that something will work. This is all life is about-overcome challenges.

Through your information and views, I think I have already won part of the game.

Please do not treat this as rhetoric.

I will wait for a couple of days and then close this question.

Thank you once again.
thank you