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.

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par Jaime M

•Sep 07, 2017

Great course to identify and analyse statistical distributions.

par Priyanka P

•Aug 08, 2018

Questions of the last week are very tricky. Would appreciate if you could provide the answers with an explanation , it would help us to understand better.

par Shady N S T

•Nov 26, 2018

People with Statistics background will enjoy this course and the whole specialization as well.

par Russel Q

•Oct 01, 2018

Excellent intro to basic statistics, vocabulary, and calculations. Sequenced nicely, and great real world examples.

par Linglu M

•May 23, 2017

Not easy to follow, but the professor did such a good job laying out the course and explain quiz questions on discussion board!

par Muskan G

•Dec 13, 2019

Amazing start for basic statistics and probability

par Keli J

•Jan 07, 2018

This is a very practical course for those with limited or no knowledge of business statistics, full of real-world applications and opportunities to practice. As a communicator who does not have much of a business or statistical background, I've found this course to provide an excellent foundation and understand of such important business processes.

par kundan k

•Mar 11, 2018

Nice course and well explained.

par Yury V

•Aug 13, 2017

This is an amazing course, very useful to those who works with large massive of data everyday. Materials offered in this course are very useful to analyze business processes. I would highly recommend this course to my colleagues and friends.

par Sabarish V

•Dec 29, 2018

The course content was concise enough to breeze through it in under a dozen hours (for an engineer). The assignments and practice quizzes were very helpful. I was a bit disappointed that the content was very basic, but then again, this was not advertised as an advanced course.

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 Akash P

•Oct 14, 2018

Super teaching

par saurabh m

•Jul 31, 2017

a very well articulated course.

par Benjamìn A G

•Feb 03, 2019

All is excellent!

par Hatem A

•Dec 13, 2019

Excellent Course that simplifies the explanation of statistical concepts such as probability distribution for continuous and discrete variables and their business applications in the real world. The course is very well designed, well explained, and avoids theoretical details to the benefit of the focus on the statistical business application. Excel is a spreadsheeting tool that is readily available in (almost) all business environments and many people can leverage their investment on it by learning how to do statistical analysis using it before going to more sophisticated techniques after.

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 Atis R

•Feb 11, 2019

It was a very good Excel and statistics refersher course for me.

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 kaila v d r

•Jun 19, 2017

Excellent coaching. I never thought understanding statistics would be easy, but Mr. sharad borle teachings are really impressive.

par 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.

par MO H

•Jan 30, 2019

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

par Angel S

•Oct 26, 2018

excellent!

par 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.

par 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.

par adriana P

•Dec 31, 2016

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

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