Should I hold off on applying to stats PhD programs until I've finished Real Analysis?

[dmacfour]

My undergrad is in psychology, and I took calc I-III and linear algebra prior to completing a terminal masters in applied statistics. I wanted to take real analysis before considering PhD apps, but due to time and money constraints I've only been able to take its prereq (abstract algebra) so far. Unfortunately, I don't know if I'll be able to finish a real analysis class before apps are due for some of the schools I'm interested in next fall. It's likely that I'll be enrolling in it in the fall semester and taking the final the same week some apps are due. 

As someone without a quant heavy undergrad, Is real analysis going to be critical for me to establish a good quantitative track record? 

[csheehan10]

If you can take real analysis earlier that'd be great, but I wouldn't delay applying - as long as you're taking it while you apply, it will appear on your transcript. You may as well give it a go and apply for fall 22, and if it doesn't work out you can still apply for fall 23. 
This being said, if you do get the option to take real analysis in the spring or summer that would be advisable.

[BL4CKxP3NGU1N]

Most schools allow you to submit an updated transcript after their deadlines. I submitted all of my applications last November (even though most deadlines weren't until this month, although some deadlines were in December), and then at the end of December I was able to go back in and upload/email my updated transcripts.

[Casorati]

If you are shooting for top schools, without a substantial math background it would be unlikely. For most biostat programs and lower ranked stat programs, they sometimes admit students without real analysis.

Edited January 15, 2021 by Casorati

[Egnargal]

We seem to have somewhat similar backgrounds: I took abstract algebra first and then was finishing real analysis and topology when PhD applications were due. No programs asked for the fall grades of those courses--except after acceptance of course to clear the degree--and I was accepted with fellowships to all the programs to which I applied, including a few top programs. While there are other factors to consider, I would think that since you hold a master's degree in applied statistics, and assuming that you performed well in the other graduate math courses you have taken, such as abstract algebra, you should be fine applying concurrently with taking analysis. (For reference, I came from a non-quantitative undergrad. My interest, however, is mainly in theory, which tends to require more advanced mathematics.)

Edited January 15, 2021 by Egnargal