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 Scott S

•Sep 07, 2017

Great practical course

創建者 Juan C G

•Apr 10, 2018

It's simply great!

創建者 Benjamìn A G

•Feb 03, 2019

All is excellent!

創建者 Mahua M

•Feb 03, 2018

very good course.

創建者 Isabel

•May 31, 2017

Good explanations

創建者 Xin G

•Mar 04, 2017

Useful for excel!

創建者 Ankita

•Jul 19, 2018

Excellent course

創建者 EDILSON S S O J

•May 26, 2019

Amazing Course!

創建者 William B

•May 30, 2017

Amazing course!

創建者 Akash P

•Oct 14, 2018

Super teaching

創建者 Wendy P N E

•Apr 18, 2018

GREAT COURSE!!

創建者 Esther K

•Aug 13, 2018

Great course!

創建者 ZHOUZHOU

•Nov 29, 2017

Great course!

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 Sun

•Feb 17, 2018

Easy!

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 Valeria R

•Nov 13, 2017

As a beginner, I found the course to be extremely useful and very clear. The professor guides you through each step in all his lessons, in a way that makes the course accessible even to a complete beginner. Although the lessons are relatively short, you are given the opportunity to learn a whole set of new skills, that can be surely useful across different jobs.

Only negative point: I would have liked more tests and exercises!

創建者 Robert H

•Aug 01, 2017

Clear and concise introduction to a number of statistical concepts. What this course lacks is application exercises in excel. It is taught well, but could benefit by expanding the course material to work with more problem sets in actual excel. For this one reason the cost of the course may not be worth it if you are unable to finish 2 to 3 courses in a month (imho).