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 Kartik V

•Dec 30, 2017

Great course, helped refresh statistics and a good refresher on various distributions. Problem application was also very helpful.

par Adriano F d F J

•Sep 19, 2017

Excelent concepts and exercises.

par Riky

•Mar 25, 2017

Clear and concise, great!

par Ankita

•Jul 19, 2018

Excellent course

par Karen S Z

•Jul 21, 2018

The instructor is very good. While he has an accent, he isn't hard to understand (and you can rewind if you do miss something :)) This course went step-by-step and explained everything clearly, with examples. The final quiz was just hard enough to know that you understood the material, but not so hard that you couldn't complete it. There were a couple of questions I had trouble with and I went out on the discussion forum to get help on them. (All of them were already out there so lots of people had trouble with them!)

par Russel Q

•Oct 01, 2018

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

par Akash B P

•Oct 14, 2018

Super teaching

par Ruiqi D

•Sep 07, 2018

Excellent course! Thank you!

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 Carlos J B A

•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 L C F

•Apr 24, 2019

Great course. From basic to practical application.

par EDILSON S S O J

•May 26, 2019

Amazing Course!

par Suhas K

•Jun 01, 2019

Topics are taught in the best possible way with hands on experience in using them real time.

par Kelechi I

•May 23, 2019

Excellent course. Straight to the point. Great professor.

par Yash S

•Nov 17, 2019

I found this course helpful and easy, it is more of how you can use statistics with the use of excel, which is great.

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

par Daniel L

•May 24, 2017

Overall, great course and straightforward expectations for the end goals.

par Shreya M

•Jul 08, 2017

THE INSTRUCTOR WAS GOOD AND THE COURSE CONTENT WAS SIMPLE AND YET AMAZING. I ENJOYED EACH BIT OF THE CLASS. THANKS A TON!

par Robert H

•Aug 01, 2017

Clear and concise introduction to a number of statistical concepts. What this course lacks is application exercises in excel. It is taught well, but could benefit by expanding the course material to work with more problem sets in actual excel. For this one reason the cost of the course may not be worth it if you are unable to finish 2 to 3 courses in a month (imho).

par SABRIOUS

•Mar 15, 2018

what a good course and i love all exercises special the 4 final exams each week and i want more exercise for practice some of exercises not easy to understand need to practice more every week

next time want to see more exercises or more outsources exams

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