Name: Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions
Brand: Rice University
Availability: OnlineOnly
Rating: 4.7 (435 reviews)

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课程概述

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. ________________________________________ 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 ________________________________________ 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 ________________________________________ 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 ________________________________________ 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...

401 - Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions 的 425 个评论（共 435 个）

创建者 Allen L

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Jul 19, 2020

Very basic. Easy to learn.

创建者 Naseer M

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Jul 24, 2025

Avery good Training

创建者 Aditya S

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Dec 2, 2020

Sensational course!

创建者 Lluis B P

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May 12, 2020

Very useful course

创建者 ENWOROM C E

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Jun 13, 2020

VERY INSIGHTFUL!

创建者 Amritanshu S

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Oct 1, 2021

it's difficult

创建者 Dr. C J

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Oct 15, 2019

Great content

创建者 Ashwini K

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Apr 28, 2025

great course

创建者 Vipin J

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Jan 9, 2021

Good course

创建者 Angel S

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Oct 26, 2018

excellent!

创建者 Guru V

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Apr 22, 2023

EXCELLENT

创建者 طلال ا

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Mar 22, 2022

very good

创建者 Eduardo S M

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Aug 23, 2020

perfecto

创建者 Alita H Z

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Mar 8, 2018

Very goo

创建者 Catherine

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Oct 31, 2020

awesome

创建者 Khalid M B

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Mar 29, 2020

great!

创建者 SAMMYAK J

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Sep 28, 2025

....

创建者 Nichole D

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Apr 1, 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.

创建者 Nitish A

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Feb 2, 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.

创建者 Subhodeep S

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Feb 10, 2021

The questions were not clear and very confusing. I have been enrolling into so many courses but this one was a not up to the mark. If you want to study Business Statistics you can go for Business Analytics by UpGrad. I think there you will have a better experience compared to this one.

创建者 Courtney G

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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).

创建者 Noel E D

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May 6, 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