The virtual course "Basic data descriptors, statistical distributions and application to commercial decisions - Virtual Course - Coursera", is a course with different contents and that offers video classes of Approx. 21 hours to complete. Explore its essential features, and click the orange button to get detailed information on the Coursera e-Learning platform
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 the data.
Lack of knowledge could lead to wrong decisions that could have negative consequences for a company.
This course is designed to introduce you to Business Statistics.
We start 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 Excel functions to calculate them.
The notion of probability or uncertainty is introduced along with the concept of 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 can apply these descriptive measures of data and various statistical distributions using easy-to-follow Excel-based examples shown 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 understand, calculate, and interpret various descriptive or summary measures of data.
These descriptive measures summarize and present data using a few numbers.
The appropriate Excel functions for making 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 dispersion in data, range, interquartile range, standard deviation, and variance • Box plots • Interpretation of the standard deviation measure using the golden rule and Chebyshev's theorem ________________________________________ WEEK 2 Module 2: Descriptive Measures of Association, Probability and Statistical Distributions This module introduces the measures of covariance and correlation and their respective functions of Excel.
You come to understand the notion of causality versus correlation.
The module then introduces the notion of probability and random variables and begins to introduce statistical distributions.
Topics covered include: • Measures of association, covariance, and correlation measures; causality versus correlation • Probability and random variables; Discrete vs. Continuous Data • Introduction to Statistical Distributions ________________________________________ WEEK 3 Module 3: The Normal Distribution This module introduces the normal distribution and the Excel function for calculating probabilities and various outcomes of the distribution.
Topics covered include: • Probability density function and area under the curve as a measure of probability • The normal distribution (bell curve), NORM functions.
DIST, NORM.
INV in Excel ________________________________________ WEEK 4 Module 4: Working with Distributions, Normal, Binomial, Poisson In this module, you will see various applications of the Normal distribution.
You will also learn about Binomial and Poisson distributions.
The Central Limit Theorem is presented 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 • Binomial and Poisson distributions • Sample data versus population data; the central limit theorem
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