B+ vs. Pass/Fail in Real Analysis for Statistics PhD applications

[kidbayes]

My question is how much would it hurt my application to get a B+ or B in real analysis, for someone who is considering applying to graduate school for statistics, with an interest in machine learning, optimization, and neural networks (I think it is very relevant to my interests)? I am currently a master's student, and have only gotten two B's thus far, and A/A- in the rest of my classes. There are currently 2 weeks left in the quarter, and the professor said if I did well on the final, I could get an A-. I am at a school in the US known for heavy grade deflation (UChicago), but I'm not sure how much that matters.

My questions are, at this point, if I have the choice between a pass/fail and a B+/B, would it make sense to take it for pass/fail instead of getting a B+? The professor said I could decide after the final was over (but before it was graded). I am also wondering how important it is to get an A-/A in real analysis for applying to PhD programs in statistics.

Any insight would be appreciated - thanks

Edited February 22, 2023 by kidbayes
further clarifications

[randomwalker]

I'd just take the letter grade. Some professors I've spoken to say that adcoms may assume the worst (B- or C) when you p/f a class, and real analysis is arguably the most important class on your transcript. 

As to how much it will hurt? Probably contingent on your performance in other math classes and the rest of your profile. For reference, I got a B+ in RA with mediocre grades in some of my other math classes and was still fortunate enough to get into some T30 programs. 

[loststatsguy]

I go to UChicago (for undergrad), and I've been admitted to top 5 biostats programs with B range grades in (accelerated) real analysis (all A's or A-'s but one in my remaining math/stat classes though).  I would just take it for a quality grade and wouldn't worry about it too much if I were you.  Many adcoms would assume that a P means that you were on the verge of getting a C range grade in the class.

Edited February 24, 2023 by loststatsguy