Probability & Statistical Modeling

What you’ll learn:

In this course, we will review the basics of probability theory and then move on to statistical inference where we’ll discuss confidence intervals and hypothesis testing. From there, we’ll shift gears to statistical modeling and spend some time exploring Analysis of Variance and linear regression.

For each of these topics, we’ll begin by developing an intuitive understanding of the method and then quickly move on to applications of the methods to problems in marketing, quality control, health science, and more.

Who you’ll learn from:

Dr. Tonya Etchison Balan
Associate Teaching Professor – MS in Business Analytics Program
336-758-4337 | email

Tonya Etchison Balan is an Associate Teaching Professor in the School of Business at Wake Forest University. She received her undergraduate degree in Mathematics and her Ph.D. in Statistics from North Carolina State University. Dr. Balan has extensive experience as a practicing statistician working with customers in such diverse industries as health care, retail, financial services, government, and consumer packaged goods. Prior to joining Wake Forest, she was on the faculty of NC State University’s Poole College of Management. She also spent 10 years as Director of Analytics Product Management at SAS Institute where her team was responsible for providing strategic direction for all aspects of the development and deployment of SAS’ suite of analytics products. Dr. Balan is something of a foodie and enjoys cooking and trying new recipes and cuisines. She also enjoys playing the piano and travelling the world with her family.

The best thing about Probability and Statistical Modeling

The best thing about this class is really the thing that makes statistics such an exciting field of study. It provides you with the tools you need to apply analytical thinking to solve problems across almost any domain. John Tukey had it right when he said, “The best thing about being a statistician, is that you get to play in everyone’s backyard.”

How you’ll learn:

My philosophy on teaching analytics can really be summed up in one sentence: “The best way to learn how to analyze data is to analyze data.”

While my classes will provide you with an intuitive understanding of how the methods work, the focus will be on solving real-life business problems using the techniques that you are learning in class. Whether we are sitting in a classroom or learning in an online environment, the approach is the same. We start with a lecture or two (either in person or on video) that explain how a method works. Then, we work through some examples or a case study together in class (which might be a live zoom session). Then, you get the chance to work through a case study – either on your own or with a team. The best thing about this approach is that it allows you to immediately start applying what you learn to problems that you encounter “in the real world.”

Synchronous class twice weekly

We will meet together twice weekly in synchronous class sessions where we will review concepts and discuss them together.

Asynchronous Materials

Class materials will be available online for asynchronous work and study.