Cardiff, United Kingdom

Operational Research, Applied Statistics and Financial Risk

Master's
Language: EnglishStudies in English
Subject area: mathematics and statistics
Qualification: MSc
Kind of studies: full-time studies, part-time studies
Master of Science (MSc)
University website: www.cardiff.ac.uk
Financial Risk
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial loss and uncertainty about its extent.
Research
Research comprises "creative and systematic work undertaken to increase the stock of knowledge, including knowledge of humans, culture and society, and the use of this stock of knowledge to devise new applications." It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories. A research project may also be an expansion on past work in the field. Research projects can be used to develop further knowledge on a topic, or in the example of a school research project, they can be used to further a student's research prowess to prepare them for future jobs or reports. To test the validity of instruments, procedures, or experiments, research may replicate elements of prior projects or the project as a whole. The primary purposes of basic research (as opposed to applied research) are documentation, discovery, interpretation, or the research and development (R&D) of methods and systems for the advancement of human knowledge. Approaches to research depend on epistemologies, which vary considerably both within and between humanities and sciences. There are several forms of research: scientific, humanities, artistic, economic, social, business, marketing, practitioner research, life, technological, etc.
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.
Research
The worst thing happens when ideologists are trying to analyse scientific researches.
Jerzy Vetulani, Neurobiologia inteligencji, „Wiedza i Życie” 2/2008, pages 14–19.
Statistics
The true foundation of theology is to ascertain the character of God. It is by the art of statistics that law in the social sphere can be ascertained and codified, and certain aspects of the character of God thereby revealed. The study of statistics is thus a religious service.
Attributed to Florence Nightingale by F.N. David in Games, Gods, and Gambling: A History of Probability and Statistical Ideas, 1962, page 103.
Statistics
While it is easy to lie with statistics, it is even easier to lie without them.
Attributed to Frederick Mosteller in Murray, Charles (2005). "How to Accuse the Other Guy of Lying with Statistics". Statistical Science 20 (3): 239-241. ISSN 0883-4237. Retrieved on 2011-08-22.
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