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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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von Aline C

•Oct 21, 2018

well designed and useful, great course !

von Lalit J

•Oct 30, 2018

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

von Gregory R G J

•Nov 20, 2018

Thumbs Up!

von 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.

von shadrack B

•Dec 11, 2016

Absolutely great course. Learnt a lot of useful information.

von Alex M

•Mar 02, 2018

I liked how straightforward it was. Straight into the materials and their explanations, with examples, well explained, and all in very well paced videos. The mini-quizzes at the end of each lesson were also a major help.

von Andras F

•Feb 02, 2018

I got exactly what I needed, a good and compact summary on statistical distributions that can be used in a business environment.

von kaila v d r

•Jun 19, 2017

Excellent coaching. I never thought understanding statistics would be easy, but Mr. sharad borle teachings are really impressive.

von Pam B

•Jan 24, 2018

Good intro to probabilities and forecasting. Quizzes have been improved tremendously!

von Ashok A

•Dec 11, 2017

Super teachings by Sharad Sir.

von Sean E B

•Oct 29, 2017

The mathematical formulas can be a little confusing if you're not familiar with statistical math, but this is not the fault of the lecturer obviously.

Overall, a nicely explained and set out course. Really helpful and understandable for beginners.

von Hamilton C d R

•Oct 16, 2017

Great introductiont to Statistics.

von Harshavardhan S R

•Dec 03, 2017

It was excellent and very useful.

von Oladapo O

•Mar 08, 2017

Lessons learned are very impactful.

von AVIROOP B

•Feb 28, 2018

Statistical concepts were made very clear in this course. Very useful course if someone wants to implement stats in real business scenarios. I've ENJOYED thoroughly!!

von Ricardo M

•Feb 02, 2017

The lecturer is well versed in statistics and he explained complex theory in a

von 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!

von 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!

von Diego F

•Jan 23, 2018

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

von 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.

von saurabh m

•Jul 31, 2017

a very well articulated course.

von Sofia L

•Jul 04, 2018

Loved studing and learning about normal distributions, continuous vs discrete data and how to estimate probabilities by different distributions approach. Learning is fascinating

von Ren P

•Apr 18, 2017

Good

von Fairness P

•May 15, 2017

Great course. I learned a lot!

von Padmaja D

•Apr 19, 2018

A lot of real life examples to understand the concept clearly is extremely valuable. Its an excellent course and I have gained a lot of knowledge form this.

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