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
________________________________________
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
________________________________________
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
________________________________________
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...

EM

Aug 27, 2020

This is one of the best courses i have atended since, the exercises are all related to the topic.Great job. .\n\nThanks to Mr Sharad Borle for explaining very well the content in this course .

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.

篩選依據：

創建者 Iñigo A

•Aug 26, 2020

Very useful.

創建者 Pratyush A

•Aug 01, 2020

Good course.

創建者 Jesse M

•May 02, 2020

cool teacher

創建者 Gabriel A F G

•Sep 20, 2020

Buen curso.

創建者 Muhammad L b Y

•Jun 23, 2020

Challenging

創建者 Chirag S

•Apr 02, 2018

Nice course

創建者 enrique a r

•Feb 07, 2019

fantastic!

創建者 Gregory R G J

•Nov 20, 2018

Thumbs Up!

創建者 Deep S

•Aug 29, 2020

Excellent

創建者 Hari S

•Jul 06, 2020

great....

創建者 Dhulipalla U

•May 06, 2020

EXCELLENT

創建者 Anurag T

•Jun 26, 2020

Amazing

創建者 Prof S S G

•Jul 31, 2020

Superb

創建者 Sun

•Feb 17, 2018

Easy!

創建者 Navoda M K

•Jul 22, 2020

good

創建者 Ruchi M

•May 07, 2020

good

創建者 jittu s

•Mar 17, 2019

good

創建者 Penny W

•Aug 17, 2018

good

創建者 Ren P

•Apr 18, 2017

Good

創建者 Luping L

•Feb 16, 2017

c

創建者 Tim S

•Nov 20, 2016

a

創建者 Colin P

•Apr 10, 2018

Good intro or refresher on how to apply apply basic statistical concepts to business problems. I can immediately apply the Poisson distribution to gain further insights at my current job. I thought the material was well presented by the speaker: spoke slowly, clearly, and didn't try to cover too much dense info. in each video segment. The quizes were a little bit of a stretch, from what was presented in the videos, but still relevant.

創建者 Thuy N N

•Jun 07, 2020

My third course in Data Science Topic! It recalls lots of Mathematics knowledge that I haven't used for long time. Practical examples really make formula more meaningful. I really like how the course is organized with short enough videos, practice exercises and knowledge check after every lesson.

The instructor's speaker was a bit low. I almost had to maximize my speaker in order to listen clearly.

創建者 Shubham G

•Apr 16, 2020

The course is very well organized and explained in a lucid manner by the instructor. It is beginner-friendly and can be done by anyone who wishes to study the basic application of business statistics. The instructor does explain the Normal, Poisson and the Binomial distributions but doesn't throw much light on as to in what scenarios should these distributions be used. Overall a nice course.

創建者 shivansh s

•Jun 17, 2020

This course help me to lear basic of Basic Data Descriptors, Statistical Distributions, and its Application to business. the last excercise of week 4 is awsome it really teach me the real application of the various topic which cover in the lecture .

Thank you Rice for this course and professor SHARAD BORLE for teaching in very easy way which make us to understand all topic well.

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