返回到 Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

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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...

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.

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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創建者 Sofia L

•Jul 04, 2018

Loved studing and learning about normal distributions, continuous vs discrete data and how to estimate probabilities by different distributions approach. Learning is fascinating

創建者 Asha

•Jan 09, 2018

I personally loved it!! Coming from a technical background, it really helped me to understand how we can apply the concepts and techniques to real world/practical problems.

創建者 Kevin G

•Jul 03, 2018

Very interesting course on the practical applications of statistics in business and other matters. Professor was very informed and made concepts easy to absorb and appl

創建者 AVIROOP B

•Feb 28, 2018

Statistical concepts were made very clear in this course. Very useful course if someone wants to implement stats in real business scenarios. I've ENJOYED thoroughly!!

創建者 Scott H

•May 08, 2018

I really like Professor Borle,

He speaks very clearly and concisely.....easy to understand even for a non-technical person like me. Five claps for this class.

創建者 Padmaja D

•Apr 19, 2018

A lot of real life examples to understand the concept clearly is extremely valuable. Its an excellent course and I have gained a lot of knowledge form this.

創建者 Priyanka P

•Aug 08, 2018

Questions of the last week are very tricky. Would appreciate if you could provide the answers with an explanation , it would help us to understand better.

創建者 sutan a m

•Mar 18, 2019

concrete example and direct application. using excel, it should be easy to conduct basic statistical analysis. I learned so much.

創建者 Kartik V

•Dec 30, 2017

Great course, helped refresh statistics and a good refresher on various distributions. Problem application was also very helpful.

創建者 kaila v d r

•Jun 19, 2017

Excellent coaching. I never thought understanding statistics would be easy, but Mr. sharad borle teachings are really impressive.

創建者 Andras F

•Feb 02, 2018

I got exactly what I needed, a good and compact summary on statistical distributions that can be used in a business environment.

創建者 Linglu M

•May 23, 2017

Not easy to follow, but the professor did such a good job laying out the course and explain quiz questions on discussion board!

創建者 Avichit M

•Aug 07, 2017

Some more questions in the quiz in between the lessons might be of more help as they could clear the concepts thoroughly.

創建者 udaya a s

•Feb 06, 2018

i don't know if any other courses in this section from other sites , cant get simpler and easy to understand like this

創建者 Yash S

•Nov 17, 2019

I found this course helpful and easy, it is more of how you can use statistics with the use of excel, which is great.

創建者 Russel Q

•Oct 01, 2018

Excellent intro to basic statistics, vocabulary, and calculations. Sequenced nicely, and great real world examples.

創建者 DIONYSIOS Z

•Aug 01, 2017

Lot's of useful examples and hands-on exercises. Just the right pace for beginners. Great course - recommend it 100%!

創建者 Paritosh D

•Sep 16, 2018

an excellent course!

presents stats related info - enough to put anyone to sleep - in an engaging manner.

thank you!

創建者 nazim.dadashov1985@gmail.com

•May 24, 2017

Excellent resource to master such crucial skills as the application of statistics method to business problems.

創建者 Taylor N

•Jan 12, 2019

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

創建者 José R H

•Apr 01, 2019

The course is excellent! It gives you knowledge that you can immediately apply in the real world. Thanks!

創建者 Husain S

•Jan 03, 2018

Good course. I completed it in while on trial period along with the first course in the specialization.

創建者 Abhijit

•Jan 26, 2020

Thanks I got good conceptual clarity regarding normal distribution, binomial and poisson distribution.

創建者 Klaus G

•Mar 13, 2019

Very clear explanation of basic statistical concepts with very well designed quizes and exercises.

創建者 Nazmus S S

•Dec 21, 2018

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