Volver a Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

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127 revisiones

The ability to understand and apply Business Statistics is becoming increasingly important in the industry. A good understanding of Business Statistics is a requirement to make correct and relevant interpretations of data. Lack of knowledge could lead to erroneous decisions which could potentially have negative consequences for a firm. This course is designed to introduce you to Business Statistics. We begin with the notion of descriptive statistics, which is summarizing data using a few numbers. Different categories of descriptive measures are introduced and discussed along with the Excel functions to calculate them. The notion of probability or uncertainty is introduced along with the concept of a sample and population data using relevant business examples. This leads us to various statistical distributions along with their Excel functions which are then used to model or approximate business processes. You get to apply these descriptive measures of data and various statistical distributions using easy-to-follow Excel based examples which are demonstrated throughout the course.
To successfully complete course assignments, students must have access to Microsoft Excel.
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WEEK 1
Module 1: Basic Data Descriptors
In this module you will get to understand, calculate and interpret various descriptive or summary measures of data. These descriptive measures summarize and present data using a few numbers. Appropriate Excel functions to do these calculations are introduced and demonstrated.
Topics covered include:
• Categories of descriptive data
• Measures of central tendency, the mean, median, mode, and their interpretations and calculations
• Measures of spread-in-data, the range, interquartile-range, standard deviation and variance
• Box plots
• Interpreting the standard deviation measure using the rule-of-thumb and Chebyshev’s theorem
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WEEK 2
Module 2: Descriptive Measures of Association, Probability, and Statistical Distributions
This module presents the covariance and correlation measures and their respective Excel functions. You get to understand the notion of causation versus correlation. The module then introduces the notion of probability and random variables and starts introducing statistical distributions.
Topics covered include:
• Measures of association, the covariance and correlation measures; causation versus correlation
• Probability and random variables; discrete versus continuous data
• Introduction to statistical distributions
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WEEK 3
Module 3: The Normal Distribution
This module introduces the Normal distribution and the Excel function to calculate probabilities and various outcomes from the distribution.
Topics covered include:
• Probability density function and area under the curve as a measure of probability
• The Normal distribution (bell curve), NORM.DIST, NORM.INV functions in Excel
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WEEK 4
Module 4: Working with Distributions, Normal, Binomial, Poisson
In this module, you'll see various applications of the Normal distribution. You will also get introduced to the Binomial and Poisson distributions. The Central Limit Theorem is introduced and explained in the context of understanding sample data versus population data and the link between the two.
Topics covered include:
• Various applications of the Normal distribution
• The Binomial and Poisson distributions
• Sample versus population data; the Central Limit Theorem...

por GG

•Aug 23, 2017

The course has been designed in a manner to give maximum understanding of the concept. The Quizzes are really grilling. and helps you strengthen the knowledge gained from the lecture videos.

por CA

•Jun 15, 2017

This course was great. Although the concepts introduced are complex, the instructor breaks them down and gives relatable, real-world style examples to easily explain the application.

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122 revisiones

por Atis Rektins

•Feb 11, 2019

It was a very good Excel and statistics refersher course for me.

por enrique agustin rodriguez

•Feb 07, 2019

fantastic!

por Benjamìn Argote Garcìa

•Feb 03, 2019

All is excellent!

por MO HUAXING

•Jan 30, 2019

Showing the key important thing for learning the basic statistical concept; Nice example and practice.

por Shittu Ifedayo

•Jan 14, 2019

Absolutely a powerful and awesome course.

Thank you for this opportunity

por Taylor Nelson

•Jan 12, 2019

While not super-duper comprehensive, I appreciated all the business applications and practice. Good stuff.

por 张悦

•Jan 11, 2019

very helpful if you actually think about all the things learned.

por Sabarish Vadarevu

•Dec 29, 2018

The course content was concise enough to breeze through it in under a dozen hours (for an engineer). The assignments and practice quizzes were very helpful. I was a bit disappointed that the content was very basic, but then again, this was not advertised as an advanced course.

por Nazmus Sakib Sumon

•Dec 21, 2018

Professor Sharod Borle is a fantastic professor. I learned a lot of new concepts from this course.

por Emil Rogers

•Nov 28, 2018

Great course. Excellent Instructor

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