Retour à Business Applications of Hypothesis Testing and Confidence Interval Estimation

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Confidence intervals and Hypothesis tests are very important tools in the Business Statistics toolbox. A mastery over these topics will help enhance your business decision making and allow you to understand and measure the extent of ‘risk’ or ‘uncertainty’ in various business processes.
This is the third course in the specialization "Business Statistics and Analysis" and the course advances your knowledge about Business Statistics by introducing you to Confidence Intervals and Hypothesis Testing. We first conceptually understand these tools and their business application. We then introduce various calculations to constructing confidence intervals and to conduct different kinds of Hypothesis Tests. These are done by easy to understand applications.
To successfully complete course assignments, students must have access to a Windows version of Microsoft Excel 2010 or later. Please note that earlier versions of Microsoft Excel (2007 and earlier) will not be compatible to some Excel functions covered in this course.
WEEK 1
Module 1: Confidence Interval - Introduction
In this module you will get to conceptually understand what a confidence interval is and how is its constructed. We will introduce the various building blocks for the confidence interval such as the t-distribution, the t-statistic, the z-statistic and their various excel formulas. We will then use these building blocks to construct confidence intervals.
Topics covered include:
• Introducing the t-distribution, the T.DIST and T.INV excel functions
• Conceptual understanding of a Confidence Interval
• The z-statistic and the t-statistic
• Constructing a Confidence Interval using z-statistic and t-statistic
WEEK 2
Module 2: Confidence Interval - Applications
This module presents various business applications of the confidence interval including an application where we use the confidence interval to calculate an appropriate sample size. We also introduce with an application, the confidence interval for a population proportion. Towards the close of module we start introducing the concept of Hypothesis Testing.
Topics covered include:
• Applications of Confidence Interval
• Confidence Interval for a Population Proportion
• Sample Size Calculation
• Hypothesis Testing, An Introduction
WEEK 3
Module 3: Hypothesis Testing
This module introduces Hypothesis Testing. You get to understand the logic behind hypothesis tests. The four steps for conducting a hypothesis test are introduced and you get to apply them for hypothesis tests for a population mean as well as population proportion. You will understand the difference between single tail hypothesis tests and two tail hypothesis tests and also the Type I and Type II errors associated with hypothesis tests and ways to reduce such errors.
Topics covered include:
• The Logic of Hypothesis Testing
• The Four Steps for conducting a Hypothesis Test
• Single Tail and Two Tail Hypothesis Tests
• Guidelines, Formulas and an Application of Hypothesis Test
• Hypothesis Test for a Population Proportion
• Type I and Type II Errors in a Hypothesis
WEEK 4
Module 4: Hypothesis Test - Differences in Mean
In this module, you'll apply Hypothesis Tests to test the difference between two different data, such hypothesis tests are called difference in means tests. We will introduce the three kinds of difference in means test and apply them to various business applications. We will also introduce the Excel dialog box to conduct such hypothesis tests.
Topics covered include:
• Introducing the Difference-In-Means Hypothesis Test
• Applications of the Difference-In-Means Hypothesis Test
• The Equal & Unequal Variance Assumption and the Paired t-test for difference in means.
• Some more applications...

Oct 17, 2017

Professor explains well and makes it easy to not only understand, but to remember what you learned in previous lessons even if you are going back after a long period of time between lessons.

Nov 26, 2018

I am from Applied Statistics background, and I used to do these tests by hands. I really have enjoyed doing them on Excel as well. Thanks for this amazing course! :)

Filtrer par :

par Ernie R

•Mar 04, 2019

Great instructor! Easy to follow along.

par Isabel

•Jun 23, 2017

Very good structure with many examples

par Terry N U

•Sep 27, 2018

Statistics simplified.

Awesome!!!

par 原野

•Dec 28, 2018

it is really helpful class!!!

par Yixuan W

•Aug 23, 2017

i like it, easy to understand

par Ponciano R

•May 31, 2018

Fantastic course and teacher

par Akhil G

•Jan 16, 2020

Excellent course good pace

par MONTCHO H M

•Jul 17, 2018

very interesting course...

par Elsayed k

•Jan 04, 2020

great knowledge included

par Victoria P

•Apr 24, 2019

Favorite course so far

par Viktoryia A

•Feb 18, 2018

very knowledgeable.

par shaorong Z

•Dec 17, 2017

WonderfulCourse!

par EDILSON S S O J

•Jun 03, 2019

Very useful!!!

par Esther K

•Aug 15, 2018

Great course!

par Afonso A R

•Dec 04, 2019

Very useful!

par Marc-Aurelien N

•Aug 21, 2019

Just great !

par jittu s

•Mar 27, 2019

great course

par 郭婉莹

•Aug 23, 2017

Nice course!

par Linh P

•Mar 07, 2017

Great course

par Gregory R G J

•Nov 28, 2018

Thumbs Up!

par Olga

•Jan 31, 2019

Great

par Atis R

•Feb 22, 2019

Good

par Chandrasekaran R

•Oct 15, 2017

d

par Saurabh M

•Sep 14, 2017

This was a really interesting course. Some of the video lectures were longer than usual however, the content and the way it was taught kept it interesting. I'd definitely recommend this course to friends.

par Shiyu D

•Apr 08, 2018

It's great/ but sometimes I find it a little confusing when so many new concepts come to me. Better take notes while you are having this course^-^