Retour à 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.

Filtrer par :

par Sun

•Feb 17, 2018

Easy!

par Roni F

•May 03, 2018

Truly a great course. Explains things slowly and clearly, provides practice problems to practice what you learn in the videos, and when you don't get or understand a question on the quiz the forum is helpful to help you UNDERSTAND an issue you're having.

The only thing I would tweak is not telling what function to use in the questions - instead, putting it in a helpful note if the student chooses to use it. What I've been doing, since I want to see if I understand when to use what function, is try and skip over them.

Fantastic course.

par Jason B

•Jun 11, 2018

Very Challenging and Informative

par 陳學穎

•Jun 16, 2018

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

par ZHOUZHOU

•Nov 29, 2017

Great course!

par Chirag S

•Apr 02, 2018

Nice course

par Rishabh G

•Dec 09, 2017

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

par William B

•May 30, 2017

Amazing course!

par Timothy L

•Nov 12, 2017

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

par Xin G

•Mar 04, 2017

Useful for excel!

par Tim S

•Nov 20, 2016

a

par kundan k

•Mar 11, 2018

Nice course and well explained.

par nazim.dadashov1985@gmail.com

•May 24, 2017

Excellent resource to master such crucial skills as the application of statistics method to business problems.

par Akshay S

•Sep 15, 2017

Learned a lot in a brief time

par Akshay H

•May 02, 2017

Any one looking for quick refresher course in Business Statics this is the specialization to enroll.

Prof/Instructor Sharad has explain the concept in crisp & precise manner & hands on practice in excel is big plus..!!

For any one who wants to learn business statistics ,I kindly urge you enroll this course/specialization so you have basic overview of all topics in business statistics & later read text book Business Statistics by Ken black for through understanding of all topics.

par udaya a s

•Feb 06, 2018

i don't know if any other courses in this section from other sites , cant get simpler and easy to understand like this

par Avichit M

•Aug 07, 2017

Some more questions in the quiz in between the lessons might be of more help as they could clear the concepts thoroughly.

par Ethan O B

•Oct 11, 2017

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

par Mahua M

•Feb 03, 2018

very good course.

par Kevin G

•Jul 03, 2018

Very interesting course on the practical applications of statistics in business and other matters. Professor was very informed and made concepts easy to absorb and appl

par Joshua P

•Dec 07, 2017

I enjoyed this course very much. It covered a lot of useful topics to help you understand and apply statistical analysis methods. Professor Borle obviously put a lot of thought into the planning of this course, as the order of topics presented built on prior knowledge, and as usual were presented in a very clear and concise way. I would have liked additional depth and practice on the discreet distributions presented near the end of this course, but that is something I can do on my own time as well. I can't wait to start the next course in this specialization!

par abhinav k

•Dec 23, 2016

Looking forward to more such courses on Statistics and Probability related to Data Science.

par Juan C G

•Apr 10, 2018

It's simply great!

par Tom B

•Oct 09, 2017

Great Introduction course. Anybody looking to study statistics should first look at this course.

par Scott H

•May 08, 2018

I really like Professor Borle,

He speaks very clearly and concisely.....easy to understand even for a non-technical person like me. Five claps for this class.

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