Mathematical Probability and Statistics

Mathematical probability and statistics have applications in a variety of scientific disciplines, including biometrics and genetics. Continue reading to learn about academic and career opportunities related to statistics and probability.

Inside Mathematical Probability and Statistics

Statistics is the science of analyzing a set of collected numerical data by using math principles. Statisticians can then formulate conclusions and make decisions based on the results. They may also design experiments.

Mathematical statistics makes use of probability theory and other branches of math, such as linear algebra, to help in the analysis of data. It involves the study of estimation, optimality, discrete data analysis and hypothesis testing. Mathematical statistics may be used in the fields of medicine, including pharmacology and clinical trials, business, government, physical sciences and business.

Mathematic probability develops models to represent random events. It uses math techniques to deduce conclusions about uncertainly. Students taking a course in math probability may discuss topics such as probability and calculus, expectation, random variables and distribution functions.

Education Information

Degrees include undergraduate programs in applied math or statistics with courses in linear algebra, probability theory, theories in statistics, discrete mathematics and data analysis. Master's and Ph.D. programs in math or applied or theoretical statistics are recommended for advanced positions. Statistics programs are administered under the statistics, math, psychology, business, education or engineering departments of a university. There are separate programs in statistics, but studies in probability usually take the form of courses given with math or statistics degree programs. Use the following links to explore possible degree options.

Distance Learning Options

Online learning in statistics and probability includes individual courses and undergraduate or graduate degree programs. Discover your options below.

Career Options

A solid background in probability and statistics may lead to career opportunities in finance, the sciences, engineering or health sciences. Individuals with a bachelor's degree could pursue employment as financial analysts, actuaries or middle or secondary school math instructors, though professional certification is often an additional requirement. Graduate degree holders can become statisticians, mathematicians or college math professors. The following careers are a selection of opportunities available in the field. Read about the academic requirements and the job responsibilities.

Certification Options

Some careers require certification. Learn about what you may need to obtain, depending on your career interests, in the articles below.

Employment Outlook and Salary Information

The U.S. Bureau of Labor Statistics (BLS) projected that between 2012 and 2022 demand should increase 26% for actuaries, 16% for financial analysts, six percent for high school teachers and 12% for middle school teachers (www.bls.gov). As of May 2013, the median annual salary for actuaries was $93,680. For financial analysts the median was $78,380 and for high school teachers, it was $55,360. Employment of mathematicians was projected to increase by 23% from 2012 and 2022, with a median salary of $102,440 in 2013. Statisticians and college math professors had median annual salaries of $79,290 and $65,930, respectively, in 2013.

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