The Institute of Statistics was founded in 2003. It offers M.S. programs with special emphasis on Industrial Statistics and Financial Statistics . In addition to fundamental theoretical statistics courses, students are encouraged to take elective courses from the aforementioned two areas of applied statistics.
The two areas of this institute have good potential in statistical studies, and their theories and applications need much more research:
Statistics researchers have promoted the use of industrial statistics in Taiwan for many years and have witnessed the success of such activities. Throughout the years, researchers have helped lay the foundations of putting the statistical concepts and corresponding methods such as product design, quality control and assurance in manufacturing and inspection processes, and so on, into practice. All these have helped Taiwanese industries to institute product warranty, monitoring and inspection processes that meet international standards.
In the past twenty years, new computational techniques and methods caused major influences in the investment processes and brought new changes to the entire financial sector. Today many international banks and financial institutions utilize these new computational methods in technique innovation and have consequently increased their competitive strength. Techniques and tools used in the fields of applied mathematics, probability and statistics, computer science, and economics, etc., are included in these computational methods. The new computation methods also contain fiscal theories to produce financial policies and products that solve questions like product warranty assessment, investment compound structure, risk management, and case simulation.