1.
Statistics
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Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, e. g. a scientific, industrial, or social problem, 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, statistician Sir Arthur Lyon Bowley defines statistics as Numerical statements of facts in any department of inquiry placed in relation to each other. When census data cannot be collected, statisticians collect data by developing specific experiment designs, representative sampling assures that inferences and conclusions can safely extend from the sample to the population as a whole. In contrast, an observational study does not involve experimental manipulation, inferences on mathematical statistics are made under the framework of probability theory, which deals with the analysis of random phenomena. A standard statistical procedure involves the test of the relationship between two data sets, or a data set and a synthetic data drawn from idealized model. A hypothesis is proposed for the relationship between the two data sets, and this is compared as an alternative to an idealized null hypothesis of no relationship between two data sets. Rejecting or disproving the hypothesis is done using statistical tests that quantify the sense in which the null can be proven false. Working from a hypothesis, two basic forms of error are recognized, Type I errors and Type II errors. Multiple problems have come to be associated with this framework, ranging from obtaining a sufficient sample size to specifying an adequate null hypothesis, measurement processes that generate statistical data are also subject to error. Many of these errors are classified as random or systematic, the presence of missing data or censoring may result in biased estimates and specific techniques have been developed to address these problems. Statistics continues to be an area of research, for example on the problem of how to analyze Big data. Statistics is a body of science that pertains to the collection, analysis, interpretation or explanation. Some consider statistics to be a mathematical science rather than a branch of mathematics. While many scientific investigations make use of data, statistics is concerned with the use of data in the context of uncertainty, mathematical techniques used for this include mathematical analysis, linear algebra, stochastic analysis, differential equations, and measure-theoretic probability theory. In applying statistics to a problem, it is practice to start with a population or process to be studied. Populations can be diverse topics such as all living in a country or every atom composing a crystal. Ideally, statisticians compile data about the entire population and this may be organized by governmental statistical institutes
2.
Bureau of Labor Statistics
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The Bureau of Labor Statistics is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U. S. government in the field of labor economics and statistics. The BLS also serves as a resource to the Department of Labor. To avoid the appearance of partiality, the dates of major releases are scheduled more than a year in advance, in coordination with the Office of Management. The Bureau of Labor was established in the Department of the Interior by the Bureau of Labor Act, June 27,1884, to information about employment. Carroll D. Wright was the first U. S and it became an independent department by the Department of Labor Act, June 13,1888. It was incorporated, as the Bureau of Labor, into the Department of Commerce and Labor by the Department of Commerce Act, finally, it was transferred to the Department of Labor in 1913 where it resides today. BLS is now headquartered in the Postal Square Building near the United States Capitol, BLS is headed by a commissioner who serves a four-year term from the date he or she takes office. William Wiatrowski, Deputy Commissioner of the BLS, is serving as Acting Commissioner until the commissioner is sworn in. Surveys, Indices, and Statistics produced by the BLS fall into 4 main categories, consumer Price Index Producer Price Index U. S. S. Middle Atlantic Division, New Jersey, New York, and Pennsylvania, South Region South Atlantic Division, Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and West Virginia. East South Central Division, Alabama, Kentucky, Mississippi, West South Central Division, Arkansas, Louisiana, Oklahoma, and Texas. Midwest Region East North Central Division, Illinois, Indiana, Michigan, Ohio, West North Central Division, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota. West Region Mountain Division, Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, pacific Division, Alaska, California, Hawaii, Oregon, and Washington. S. Census Bureau Joseph P. Goldberg and William T. Moye, Washington, DC, U. S. Government Printing Office,1985. William J. Wiatrowski, BLS at 125, Using historic principles to track the 21st-century economy, monthly Labor Review, June 2009, pp. 3-25
3.
Actuary
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An actuary is a business professional who deals with the measurement and management of risk and uncertainty. The name of the profession is actuarial science. These risks can affect both sides of the sheet, and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, Actuaries of the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems to design and manage programs that control risk. The actual steps needed to become an actuary are usually country-specific, however, almost all processes share a rigorous schooling or examination structure, the profession has consistently been ranked as one of the most desirable. In various studies, being an actuary was ranked number one or two times since 2010. Actuaries use skills primarily in mathematics, particularly calculus-based probability and mathematical statistics, but also economics, computer science, finance, and business. Actuaries assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability, most traditional actuarial disciplines fall into two main categories, life and non-life. Life actuaries, which include health and pension actuaries, primarily deal with mortality risk, morbidity risk, products prominent in their work include life insurance, annuities, pensions, short and long term disability insurance, health insurance, health savings accounts, and long-term care insurance. Non-life actuaries, also known as property and casualty or general insurance actuaries, Actuaries are also called upon for their expertise in enterprise risk management. This can involve dynamic financial analysis, stress testing, the formulation of corporate policy. Actuaries are also involved in areas of the financial services industry. On both the life and casualty sides, the function of actuaries is to calculate premiums. On the casualty side, this often involves quantifying the probability of a loss event, called the frequency. The amount of time that occurs before the event is important. On the life side, the analysis often involves quantifying how much a potential sum of money or a liability will be worth at different points in the future. Forecasting interest yields and currency movements also plays a role in determining future costs, Actuaries do not always attempt to predict aggregate future events. Often, their work may relate to determining the cost of financial liabilities that have occurred, called retrospective reinsurance
4.
Applied mathematics
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Applied mathematics is a branch of mathematics that deals with mathematical methods that find use in science, engineering, business, computer science, and industry. Thus, applied mathematics is a combination of science and specialized knowledge. The term applied mathematics also describes the professional specialty in which work on practical problems by formulating and studying mathematical models. The activity of applied mathematics is thus connected with research in pure mathematics. Historically, applied mathematics consisted principally of applied analysis, most notably differential equations, approximation theory, quantitative finance is now taught in mathematics departments across universities and mathematical finance is considered a full branch of applied mathematics. Engineering and computer science departments have made use of applied mathematics. Today, the applied mathematics is used in a broader sense. It includes the areas noted above as well as other areas that have become increasingly important in applications. Even fields such as number theory that are part of mathematics are now important in applications. There is no consensus as to what the various branches of applied mathematics are, such categorizations are made difficult by the way mathematics and science change over time, and also by the way universities organize departments, courses, and degrees. Many mathematicians distinguish between applied mathematics, which is concerned with methods, and the applications of mathematics within science. Mathematicians such as Poincaré and Arnold deny the existence of applied mathematics, similarly, non-mathematicians blend applied mathematics and applications of mathematics. The use and development of mathematics to industrial problems is also called industrial mathematics. Historically, mathematics was most important in the sciences and engineering. Academic institutions are not consistent in the way they group and label courses, programs, at some schools, there is a single mathematics department, whereas others have separate departments for Applied Mathematics and Mathematics. It is very common for Statistics departments to be separated at schools with graduate programs, many applied mathematics programs consist of primarily cross-listed courses and jointly appointed faculty in departments representing applications. Some Ph. D. programs in applied mathematics require little or no coursework outside of mathematics, in some respects this difference reflects the distinction between application of mathematics and applied mathematics. Research universities dividing their mathematics department into pure and applied sections include MIT, brigham Young University also has an Applied and Computational Emphasis, a program that allows student to graduate with a Mathematics degree, with an emphasis in Applied Math
5.
Economist
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An economist is a practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. A generally accepted interpretation in academia is that an economist is one who has attained a Ph. D. in economics, teaches economic science, the professionalization of economics, reflected in academia, has been described as the main change in economics since around 1900. Economists debate the path they believe their profession should take, surveys among economists indicate a preference for a shift toward the latter. Most major universities have a faculty, school or department. However, many prominent economists come from a background in mathematics, business, political science, law, sociology, getting a PhD in economics takes six years, on average, with a median of 5.3 years. The Nobel Memorial Prize in Economics, established by Sveriges Riksbank in 1968, is a prize awarded to each year for outstanding intellectual contributions in the field of economics. The prize winners are announced in October every year and they receive their awards on December 10, the anniversary of Alfred Nobels death. In contrast to regulated professions such as engineering, law or medicine, in academia, to be called an economist requires a Ph. D. degree in Economics. A professional working inside of one of many fields of economics or having a degree in this subject is often considered to be an economist. In addition to government and academia, economists are employed in banking, finance, accountancy, commerce, marketing, business administration, lobbying. Politicians often consult economists before enacting economic policy, many statesmen have academic degrees in economics. Economics graduates are employable in varying degrees depending on the regional economic scenario, small numbers go on to undertake postgraduate studies, either in economics, research, teacher training or further qualifications in specialist areas. Nearly 135 colleges and universities grant around 900 new Ph. D. s every year, incomes are highest for those in the private sector, followed by the federal government, with academia paying the lowest incomes. As of January 2013, PayScale. com showed Ph. D. economists salary ranges as follows, all Ph. D. economists, $61,000 to $160,000, Ph. D. The largest single grouping of economists in the UK are the more than 1000 members of the Government Economic Service. This figure compares very favourably with the picture, with 64 percent of economics graduates in employment. Some current well-known economists include, Ben Bernanke, Chairman of the Federal Reserve from 2006 to 2014, milton Friedman, Nobel Memorial Prize in Economic Sciences laureate in Economics
