Plzeň, Czech Republic

Financial Informatics and Statistics

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Years of study: 2
University website: www.zcu.cz
Informatics
Informatics is a branch of information engineering. It involves the practice of information processing and the engineering of information systems, and as an academic field it is an applied form of information science. The field considers the interaction between humans and information alongside the construction of interfaces, organisations, technologies and systems. As such, the field of informatics has great breadth and encompasses many subspecialties, including disciplines of computer science, information systems, information technology and statistics. Since the advent of computers, individuals and organizations increasingly process information digitally. This has led to the study of informatics with computational, mathematical, biological, cognitive and social aspects, including study of the social impact of information technologies.
Statistics
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, for example, a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model process to be studied. Populations can be diverse topics such as "all people living in a country" or "every atom composing a crystal". Statistics deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments. See glossary of probability and statistics.
Statistics
To understand God's thoughts we must study statistics, for these are the measure of his purpose.
Florence Nightingale, quoted in Karl Pearson, Life of Francis Galton, vol.II, ch.xiii, sect.i
Statistics
I wish that people would be persuaded that psychological experiments, especially those on the complex functions, are not improved (by large studies); the statistical method gives only mediocre results; some recent examples demonstrate that. The American authors, who love to do things big, often publish experiments that have been conducted on hundreds and thousands of people; they instinctively obey the prejudice that the persuasiveness of a work is proportional to the number of observations. This is only an illusion.
Alfred Binet (1903). L’Etude experimentale de l’intelligence. Paris: Schleicher Freres and Cie. p. 299; As cited in: Carson (1999, 360)
Statistics
There are three kinds of lies: lies, damned lies, and statistics.
Attributed to Benjamin Disraeli by Mark Twain in "Chapters from My Autobiography — XX", North American Review No. DCXVIII (JULY 5, 1907) [1]. His attribution is unverified and the origin is uncertain: see Lies, damned lies, and statistics and Leonard H. Courtney. Other authors to whom the quote has been attributed, as reported in Respectfully Quoted: A Dictionary of Quotations (1989), include Henry Labouchère, Abram S. Hewitt, and Holloway H. Frost.
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