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.

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創建者 Pranjal S S

•Oct 09, 2017

Wonderfully structured course!. There is something about this specialization, the manner in which it is created, that keeps you entrhalled all the time. Totally a big green light to someone looking to indulge oneself in the business statistics concepts. Thank you so much sir! Looking forward to other courses of the specialisation.

創建者 SABRIOUS

•Mar 15, 2018

what a good course and i love all exercises special the 4 final exams each week and i want more exercise for practice some of exercises not easy to understand need to practice more every week

next time want to see more exercises or more outsources exams

創建者 Alex D

•Apr 05, 2017

Contains all basic information on data descriptors, presented in a thorough and easy to understand way. More practice exercises (quizzes) would make it even better.

創建者 deepak m

•Mar 28, 2018

I would like to go further in depth of the course for better understanding. I think I have got the topic but still far from understanding its business application.

創建者 Shreya M

•Jul 08, 2017

THE INSTRUCTOR WAS GOOD AND THE COURSE CONTENT WAS SIMPLE AND YET AMAZING. I ENJOYED EACH BIT OF THE CLASS. THANKS A TON!

創建者 Viviana C

•Mar 25, 2019

the last portion was really difficult to understand, the material was too general for the questions covered in the quiz.

創建者 Saurabh M

•Aug 02, 2017

This course was a little difficult compared to the previous course and involved a lot of theoretical concepts.

創建者 MO H

•Jan 30, 2019

Showing the key important thing for learning the basic statistical concept; Nice example and practice.

創建者 Tim L

•Apr 30, 2018

Very good introduction to statistical distributions as it relates to business problems.

創建者 Daniel L

•May 24, 2017

Overall, great course and straightforward expectations for the end goals.

創建者 Darryl F

•Sep 18, 2018

Tough Course at the end. Definitely needed to review multiple times

創建者 adriana P

•Dec 31, 2016

It was a clear explanation to the statistical, and the examples are

創建者 Hesham M H S

•Dec 01, 2019

it is interesting, but with more examples it would add more value.

創建者 Harsha M

•Apr 24, 2019

Very nice course, helped to clear my basic understanding.

創建者 Patrick W

•Jul 05, 2019

Useful refresher for business context of statistics

創建者 Renier B

•Dec 02, 2019

Good course, learned some really new applications.

創建者 Kim K

•Aug 08, 2018

Rigorous and rewarding when you put the work in.

創建者 Surapa K

•Oct 14, 2019

short, concise, informative and practical

創建者 Jeonghwan J

•Jul 18, 2018

good to understand and explaination

創建者 Alfonso C R

•Jun 17, 2019

Excelente course, I recommend it.

創建者 Dr. C J

•Oct 15, 2019

Great content

創建者 Angel S

•Oct 26, 2018

excellent!

創建者 Alejandra H

•Mar 08, 2018

Very goo

創建者 Nichole D

•Apr 02, 2019

The class was great. I learned a lot and the material was easy to follow. The only thing that was unfortunate was the lack of engagement on the discussion boards from the class, and more so the professors. I commented in week 1 and it took over a week for a reply. I stopped participating because the forums were months old since the last post. My other courses were so much more involved. I value the discussion boards which is why this class receives less stars.

創建者 Nitish A

•Feb 02, 2018

It was a well explained course, but I believe the course should have been more extensive. Also, the reading material was exactly the same as the slides the professor already presented in the video but still have been allotted independent reading times. It feels like a topic spread out as a course.