Retour à Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

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153 avis

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 adriana P

•Dec 31, 2016

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

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 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

par Alejandra H

•Mar 08, 2018

Very goo

par Valeria R

•Nov 13, 2017

As a beginner, I found the course to be extremely useful and very clear. The professor guides you through each step in all his lessons, in a way that makes the course accessible even to a complete beginner. Although the lessons are relatively short, you are given the opportunity to learn a whole set of new skills, that can be surely useful across different jobs.

Only negative point: I would have liked more tests and exercises!

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 Saurabh M

•Aug 02, 2017

This course was a little difficult compared to the previous course and involved a lot of theoretical concepts.

par Harsha M

•Apr 24, 2019

Very nice course, helped to clear my basic understanding.

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 Alfonso C R

•Jun 17, 2019

Excelente course, I recommend it.

par Patrick W

•Jul 05, 2019

Useful refresher for business context of statistics

par Surapa K

•Oct 14, 2019

short, concise, informative and practical

par Dr. C J

•Oct 15, 2019

Great content

par Paweł K

•Mar 15, 2019

Last part about Binomal and Poisson was not fully clear to me

par Davida C

•Sep 22, 2017

A bit too technical for me. I really just needed to master Excel, and I got that from Part 1 of the course.

par Noel E D

•May 06, 2018

I wish there were more business cases and deep dives. I found the content a bit short and lacking. It did however introduce the concepts well and allowed me to understand much better material googled elsewhere

par Nitish A

•Feb 02, 2018

It was a well explained course, but I believe the course should have been more extensive. Also, the reading material was exactly the same as the slides the professor already presented in the video but still have been allotted independent reading times. It feels like a topic spread out as a course.

par Courtney G

•Jun 22, 2017

Overview of normal distribution was much more comprehensive than the discrete distributions. More time/attention could have been given to explaining the concepts behind the two discrete distributions in order to use them in a practical context (i.e., business application questions).

par Nichole D

•Apr 02, 2019

The class was great. I learned a lot and the material was easy to follow. The only thing that was unfortunate was the lack of engagement on the discussion boards from the class, and more so the professors. I commented in week 1 and it took over a week for a reply. I stopped participating because the forums were months old since the last post. My other courses were so much more involved. I value the discussion boards which is why this class receives less stars.

par Prachi M

•Jul 08, 2019

binom.inv is not explained. Also, determining the number of trials needed for a specific probability is not explained as asked in the test for week 4

par Albert C

•Feb 21, 2019

Too basic, not enough of actual Excel usage

par renu m

•Mar 17, 2019

Too much focus on the excel functions. I had to use supporting materials to understand the concepts better so that the excel application can be put into context.

par Lyn S

•Aug 10, 2017

Using the internet and its loads of detailed info and teachings to support this learning. Just wading thru this to get the certificate.

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