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.

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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 M B

•Jun 06, 2020

The course is fully packed with essential learning material that is useful in academics, research and on job application

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 Maneet J

•Apr 06, 2020

Amazing course! Got to learn how to use various kind of probability using Excel with the help of real life examples.

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 Lan H D

•Jun 07, 2020

The content presents the basic foundation of applied statistics. The lecturer has a good teaching demonstration.

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 Tim W

•Apr 26, 2020

Enjoyable. Some of the end of week questions were quite tricky and really helped to reinforce the learning.

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 Yeasin A A

•Jun 14, 2020

Well structured Course overall. but it should have more practice lessons or resources before taking quiz.

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 vishal g

•May 08, 2020

This course provides a basic and strong foundation for statistical parameters and methods in excel

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.

創建者 Tom B

•Oct 09, 2017

Great Introduction course. Anybody looking to study statistics should first look at this course.

創建者 Navdeep B

•Jun 29, 2020

This is a very good course for someone interested in learning statistics in a flawless manner.

創建者 Shady N S

•Nov 26, 2018

People with Statistics background will enjoy this course and the whole specialization as well.

創建者 Suhas K

•Jun 01, 2019

Topics are taught in the best possible way with hands on experience in using them real time.

創建者 abhinav k

•Dec 23, 2016

Looking forward to more such courses on Statistics and Probability related to Data Science.