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 Timothy L

•Nov 12, 2017

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

par Mahua M

•Feb 03, 2018

very good course.

par Isabel

•May 31, 2017

Good explanations

par José A G U

•Feb 07, 2018

Excelente curso para aprender los principios básicos del manejo de datos.

par Wendy P N E

•Apr 18, 2018

GREAT 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.

par Gabriel F H

•Aug 21, 2017

Great course and materials!!

par Rebecca L

•Apr 09, 2017

The instructor's approach to presenting the basics of statistics as well as the application of excel functions is by far the best I've experienced in statistics courses. This is a refresher for me, and, I'm really enjoying it!

par Husain S

•Jan 03, 2018

Good course. I completed it in while on trial period along with the first course in the specialization.

par DIONYSIOS Z

•Aug 01, 2017

Lot's of useful examples and hands-on exercises. Just the right pace for beginners. Great course - recommend it 100%!

par Asha

•Jan 09, 2018

I personally loved it!! Coming from a technical background, it really helped me to understand how we can apply the concepts and techniques to real world/practical problems.

par Jaime M

•Sep 07, 2017

Great course to identify and analyse statistical distributions.

par Geet S

•May 03, 2017

Great course! Very informative and all the concepts are very clearly explained!

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 Mayank A

•Jun 16, 2018

Explained in a very easy language.

par Sean M

•Dec 05, 2016

Great course Even better Instructor

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 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 SAKSHI C

•Jun 22, 2017

Excellent course, which is very well developed by Prof. Sharad. It is must for those who wish to understand the applicability of Probability concept in business decision making. On my part, I thoroughly enjoyed the challenging Quizzes, and at the end it was worth it!

par Diego F

•Jan 23, 2018

I learnt the basic of data analysis and making business decisions based on the results.

par Corry A

•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.

par saurabh m

•Jul 31, 2017

a very well articulated course.

par jorge l

•Jun 04, 2018

It was great. Test was a little bit difficult for me, however after revising and studying again the lessons I was finally able to pas it, most important thing was not to pass the test but to understand the material better.

par shadrack B

•Dec 11, 2016

Absolutely great course. Learnt a lot of useful information.

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