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 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 Shubham G

•Apr 16, 2020

The course is very well organized and explained in a lucid manner by the instructor. It is beginner-friendly and can be done by anyone who wishes to study the basic application of business statistics. The instructor does explain the Normal, Poisson and the Binomial distributions but doesn't throw much light on as to in what scenarios should these distributions be used. Overall a nice course.

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).

創建者 Abigail P

•Mar 31, 2020

I really enjoyed the course and learned a great deal. My only recommendation for improvement was that I wish there were materials provided for additional/optional study outside of the existing coursework and testing--more like homework problems where we can work what we have learned, then check provided answers to see if we've done the various functions correctly.

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 T T T

•May 04, 2020

really loved this course. Totally compact and used as less many words as possible. Would have been better for me if they made me practice a lot more. But that does not mean that it won't suit others but the opposite. Thanks.

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 Aakash G

•May 04, 2020

It was wonderful to get a basic idea about different distribution methods but the only thing missing was a business problem from starting, a kind of small project.

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 Shivam G

•May 18, 2020

It was a nice experience of learning some new skills and having some practical implementation with the questions which were there in the quiz.

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 Ashis G

•May 14, 2020

The interactive design of the course is instrumental in motivating the learners greatly.

創建者 Tim L

•Apr 30, 2018

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

創建者 EV B

•May 26, 2020

Clear explanations of concepts I haven't studied in any detail previously

創建者 Daniel L

•May 24, 2017

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

創建者 Samuel G

•May 17, 2020

Good course but the quizzes could use better feedback on wrong answers.

創建者 shashank j

•May 10, 2020

Course is good .It gives you business applications of all the concepts

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.