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.

篩選依據：

創建者 Kelechi I

•May 23, 2019

Excellent course. Straight to the point. Great professor.

創建者 Pratyush

•Jul 25, 2017

Easy to grasp, good amount of practice, and well taught.

創建者 Muskan G

•Dec 13, 2019

Amazing start for basic statistics and probability

創建者 David L C F

•Apr 24, 2019

Great course. From basic to practical application.

創建者 Aline C

•Oct 21, 2018

well designed and useful, great course !

創建者 Johnson D

•Mar 21, 2018

Good Course, gives a basic introduction

創建者 Wellington G S

•Aug 08, 2017

Important part of the specialization.

創建者 Oladapo O

•Mar 08, 2017

Lessons learned are very impactful.

創建者 Sean M

•Dec 05, 2016

Great course Even better Instructor

創建者 Emil R

•Nov 28, 2018

Great course. Excellent Instructor

創建者 Mayank A

•Jun 16, 2018

Explained in a very easy language.

創建者 Hamilton C d R

•Oct 16, 2017

Great introductiont to Statistics.

創建者 Bola M

•Jan 13, 2020

Great course. Highly informative.

創建者 Harshavardhan S R

•Dec 03, 2017

It was excellent and very useful.

創建者 Jason B

•Jun 11, 2018

Very Challenging and Informative

創建者 Ponciano R

•May 15, 2018

Excellent course and teacher!!!!

創建者 Adriano F d F J

•Sep 19, 2017

Excelent concepts and exercises.

創建者 kundan k

•Mar 11, 2018

Nice course and well explained.

創建者 saurabh m

•Jul 31, 2017

a very well articulated course.

創建者 Ashok A

•Dec 11, 2017

Super teachings by Sharad Sir.

創建者 Fairness P

•May 15, 2017

Great course. I learned a lot!

創建者 Akshay S

•Sep 15, 2017

Learned a lot in a brief time

創建者 Ruiqi D

•Sep 07, 2018

Excellent course! Thank you!

創建者 Gabriel F H

•Aug 21, 2017

Great course and materials!!

創建者 Bhola P

•May 11, 2018

Sharad sir is just amazing.