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Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions, Université de Rice

852 notes
140 avis

À propos de ce cours

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. ________________________________________ 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 ________________________________________ 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 ________________________________________ 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 ________________________________________ 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...

Meilleurs avis

par GG

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.

par CA

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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136 avis

par Kelechi Imokhai

May 23, 2019

Excellent course. Straight to the point. Great professor.

par Carlos Junior Barros Amador

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.

par David Lucas Campos Faial

Apr 24, 2019

Great course. From basic to practical application.

par Harsha Meena

Apr 24, 2019

Very nice course, helped to clear my basic understanding.

par 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.

par José R. Hernández

Apr 01, 2019

The course is excellent! It gives you knowledge that you can immediately apply in the real world. Thanks!

par Viviana Chaboudy-Munoz

Mar 25, 2019

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

par sutan ashari mufti

Mar 18, 2019

concrete example and direct application. using excel, it should be easy to conduct basic statistical analysis. I learned so much.

par renu menon

Mar 17, 2019

Too much focus on the excel functions. I had to use supporting materials to understand the concepts better so that the excel application can be put into context.

par jittu simon

Mar 17, 2019