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 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.

創建者 Ethan O B

•Oct 11, 2017

An excellent programme well delivered - really useful skills to take into business world

創建者 Diego F

•Jan 23, 2018

I learnt the basic of data analysis and making business decisions based on the results.

創建者 Jonathan D A P

•Jul 14, 2020

Excellent course to learn a lot about statistics in Business! It's really recommended.

創建者 SUHASINI A

•May 22, 2020

I was learned more things in this course,it is very helpful for gaining more knowledge

創建者 陳學穎

•Jun 16, 2018

Nice course,it's not too difficult but so essential for entry-level learner to get in.

創建者 Pam B

•Jan 24, 2018

Good intro to probabilities and forecasting. Quizzes have been improved tremendously!

創建者 Rishabh G

•Dec 09, 2017

Nice course. Please explain little more binomial distributor and poisson distribution.

創建者 Mai Z

•Sep 24, 2017

The theory is well explained, and the pratices on examples help to understand deeper.

創建者 Timothy L

•Nov 12, 2017

This teacher is the best! He is able to clearly explain complex, abstract concepts!

創建者 Jaysing B

•Jul 09, 2020

Really enjoyed all the videos. Having awesome learning with this particular course.

創建者 Akash C

•Apr 16, 2020

A very practical and useful course, delivered in a very simple and neat manner.

創建者 Geet S

•May 03, 2017

Great course! Very informative and all the concepts are very clearly explained!

創建者 Ricardo M

•Feb 02, 2017

The lecturer is well versed in statistics and he explained complex theory in a

創建者 Mohammed T C

•May 16, 2020

Excellent Course with 100% practical based learning. Learned a lot. Thanks

創建者 Lalit J

•Oct 30, 2018

Love the way course was designed and the way example problems were solved.

創建者 John D I

•Aug 28, 2018

Great course and great instructor. Very clear explanations of each topic.

創建者 Mohammad M

•Nov 05, 2016

One of the most practical courses in business analytic I've ever enrolled.

創建者 José A G U

•Feb 07, 2018

Excelente curso para aprender los principios básicos del manejo de datos.

創建者 Dr C S B

•May 09, 2020

Nice course planned. And excellent explanation by the course instructor.

創建者 Shittu I

•Jan 14, 2019

Absolutely a powerful and awesome course.

Thank you for this opportunity

創建者 Charles E

•Nov 24, 2019

Very good course with well structured course materials and assessments

創建者 Elsayed k

•Dec 17, 2019

very useful and insightful content, I really liked the instructor.

創建者 Yamala K R

•Jul 19, 2020

Nice to have the professor explanations with a good presentation.