This course provides an analytical framework to help you evaluate key problems in a structured fashion and will equip you with tools to better manage the uncertainties that pervade and complicate business processes. To this end, the course aims to cover statistical ideas that apply to managers by discussing two basic themes: first, is recognizing and describing variations present in everything around us, and then modeling and making decisions in the presence of these variations. The fundamental concepts studied in this course will reappear in many other classes and business settings. Our focus will be on interpreting the meaning of the results in a business and managerial setting.
Inferential and Predictive Statistics for Business
This course is part of Managerial Economics and Business Analysis Specialization
Instructor: Fataneh Taghaboni-Dutta, Ph.D., PMP, CSM, CSPO
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(856 reviews)
What you'll learn
Test for beliefs about a population.
Compare differences between populations.
Use the linear regression model for prediction.
Learn how to use Excel for statistical analysis.
Skills you'll gain
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There are 5 modules in this course
In the course orientation, you will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
What's included
3 videos7 readings1 quiz1 discussion prompt
Watch any infomercial and you hear many outrageous promises. Use this cream and your skin will look 80% firmer! Use this supplement and you will lose 10 pounds in the first 10 days! Are they telling you the truth? Are they all lying? The only way to know the answer to any of these questions is to scientifically test the claim being made – that is what we call hypothesis testing and what we will learn in this module.
What's included
11 videos2 readings6 quizzes
Does the medicine a person is taking to treat his condition really work better than a sugar pill? Is the new chip-enabled credit card more secure than the magnetic card? How do you know whether the claims being made about anything being “better than” or “faster than” a competitor are true? In this module we will learn to make this comparison.
What's included
11 videos2 readings6 quizzes1 peer review
Does your job involve a lot of sitting? If so, you are at higher risk of coronary heart disease. How do I know this? We got to know the relationship between coronary heart disease and sitting when researchers studied a cohort of London bus drivers and bus conductors from 1947 to 1972. If you want to know more, then read on!
What's included
9 videos2 readings6 quizzes
You are trying to predict next month’s sales numbers. You know that dozens, maybe even hundreds, of things like the weather, competitor’s promotions, rumors, etc. can impact the number. You talk to five people and each one has an idea about what makes the biggest impact, and the only thing they offer is “trust me.” Do you wish there was a better way of doing this rather than relying on blind faith? Well, there is. We can use Multiple Regression to sort through this mess and bring the focus to factors that really do matter.
What's included
7 videos4 readings4 quizzes
Instructor
Offered by
Recommended if you're interested in Business Essentials
Universiteit Leiden
University of Illinois Urbana-Champaign
University of Colorado System
Build toward a degree
This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
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Reviewed on Apr 29, 2023
Amazing course ! I want to take all lessons instructed by Dr Taghaboni-Dutta, this professor is brilliant. I can see exactly how I will apply the content of the course.
Reviewed on Jul 4, 2020
GREAT COURSE - GREAT PROFESSOR
Reviewed on May 4, 2019
great to learn on how regressions are run and used for all kinds of examples. Feels great to accomplish and finish this course.
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