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 Akash B P

•Oct 14, 2018

Super teaching

par Paritosh D

•Sep 16, 2018

an excellent course!

presents stats related info - enough to put anyone to sleep - in an engaging manner.

thank you!

par Ramasubramaniyam S

•Sep 26, 2018

Over a short span of a month, it feels as though I've progressed from extremely less to significantly good knowledge on Data descriptors and statistical distributions on a business perspective thanks to the course.

par Russel Q

•Oct 01, 2018

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

par Aline C

•Oct 21, 2018

well designed and useful, great course !

par Lalit J

•Oct 30, 2018

Love the way course was designed and the way example problems were solved.

par John D I

•Aug 28, 2018

Great course and great instructor. Very clear explanations of each topic.

par Penny W

•Aug 17, 2018

good

par Mayank A

•Jun 16, 2018

Explained in a very easy language.

par Sean M

•Dec 05, 2016

Great course Even better Instructor

par Chirag S

•Apr 02, 2018

Nice course

par William B

•May 30, 2017

Amazing course!

par Xin G

•Mar 04, 2017

Useful for excel!

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 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 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 Mahua M

•Feb 03, 2018

very good course.

par Luping L

•Feb 16, 2017

c

par Bhola P

•May 11, 2018

Sharad sir is just amazing.

par Pratyush

•Jul 25, 2017

Easy to grasp, good amount of practice, and well taught.

par Scott L

•Jun 25, 2018

I enjoyed this course. It was a good introduction to each concept with enough practice to help learn. Would need to be supplemented with more real world practice before i would feel comfortable using at work. Specifically, understanding random sampling.

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 Mai Z

•Sep 24, 2017

The theory is well explained, and the pratices on examples help to understand deeper.

par Fairness P

•May 15, 2017

Great course. I learned a lot!

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