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.

May 05, 2019

A rewarding experience because I have been able to learn very valuable information. It is an excellent course. It has helped me in the personal and professional field. Thank you.

篩選依據：

創建者 jorge l

•Jun 04, 2018

It was great. Test was a little bit difficult for me, however after revising and studying again the lessons I was finally able to pas it, most important thing was not to pass the test but to understand the material better.

創建者 Alex M

•Mar 02, 2018

I liked how straightforward it was. Straight into the materials and their explanations, with examples, well explained, and all in very well paced videos. The mini-quizzes at the end of each lesson were also a major help.

創建者 Ramasubramaniyam S

•Sep 26, 2018

Over a short span of a month, it feels as though I've progressed from extremely less to significantly good knowledge on Data descriptors and statistical distributions on a business perspective thanks to the course.

創建者 galaxy g

•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.

創建者 Corry A

•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.

創建者 Bhumika R

•Aug 01, 2020

Very

basic

course.

Along

with

the

videos,

some

reading

material

for

detailed

understanding

of

conceptual

topics

like

binomial

and

other

distributions

is

needed

創建者 Carlos J B A

•May 05, 2019

A rewarding experience because I have been able to learn very valuable information. It is an excellent course. It has helped me in the personal and professional field. Thank you.

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 Ashfaqur R P

•Jun 24, 2020

The Instructor is awesome. Every content is been introduced simply that anyone can understand. The course will increase your intention towards the statistics in daily life.

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 Dhimant P

•Mar 07, 2020

Learned good statistics on practical problems. I love the fact that instructor provides enough discussion so when faced with real world problems, you know how to proceed.

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 Himanshu B

•Jun 05, 2020

Great course to understand statistics and start with Business Analytics. Builds the base with great methodology and professor is evident to be highly experienced.

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 Ravi D S

•Jul 29, 2020

The content of the course help me to increase my analytical thinking, I really like the way teacher explains the concept and his presentation style.

創建者 MADHYAM D

•May 10, 2020

This course features key topics which are used in Business Analytics, and predictions using Statistical tools. Mentor's work is really meritorious

創建者 Harshit D

•May 10, 2020

Mr. Sharad explained all the concept in a very student-friendly manner, cleared many concepts which weren't clear earlier. Thanks for the course.

創建者 Vipul J

•Jul 10, 2020

Amazing course! It covers most of the topics related to Statistical Distributions. Nicely structured course with very interesting quizzes.

創建者 Jitka S

•Mar 06, 2020

Excellent course, easy to follow. Clear explanations, practical examples and showing useful Excel functions make the course really great.

創建者 HUMEIRA

•May 29, 2020

The course was very well structured and it has simplified the explanations of statistical distributions which were really helpful.

創建者 Abhijeet B

•Apr 14, 2020

The course is very useful in understanding the basic concept of statistics and ways it may be used in different industry domains.

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.