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Learner Reviews & Feedback for Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions by Rice University

4.7
stars
2,562 ratings

About the Course

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...

Top reviews

SN

Aug 20, 2021

This was a really enjoyable course, but challenging too. I struggled a bit with the final assignment, but nailed it in the end. My statistical knowledge base has indeed been enhanced by this course.

EM

Aug 26, 2020

This is one of the best courses i have atended since, the exercises are all related to the topic.Great job. .

Thanks to Mr Sharad Borle for explaining very well the content in this course .

Filter by:

401 - 422 of 422 Reviews for Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

By طلال ا

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Mar 22, 2022

very good

By Eduardo S M

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Aug 23, 2020

perfecto

By Alita H Z

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Mar 8, 2018

Very goo

By Catherine

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Oct 31, 2020

awesome

By Khalid M B

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Mar 29, 2020

great!

By 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.

By 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.

By Subhodeep S

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Feb 11, 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.

By 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).

By 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

By Prachi M

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Jul 8, 2019

binom.inv is not explained. Also, determining the number of trials needed for a specific probability is not explained as asked in the test for week 4

By Davida C

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Sep 22, 2017

A bit too technical for me. I really just needed to master Excel, and I got that from Part 1 of the course.

By Anza T

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Apr 14, 2020

the questions were tricky

By Renu M

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Mar 17, 2019

Too much focus on the excel functions. I had to use supporting materials to understand the concepts better so that the excel application can be put into context.

By Lyn S

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Aug 10, 2017

Using the internet and its loads of detailed info and teachings to support this learning. Just wading thru this to get the certificate.

By Daniela M

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Jul 25, 2021

Quizzes were more confusing than the actual lessons.

By Albert C

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Feb 21, 2019

Too basic, not enough of actual Excel usage

By Billy V

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Jun 14, 2024

Supporting resources is lacking.

By Daniel C

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Nov 3, 2020

Very difficult course

By Doru I

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May 3, 2024

From bad to worse, this course was painful on many levels. I'm sorry to be so negative, but not all people have the gift of teaching; this tutor is an example. He is unable to express essential concepts clearly in an engaging manner.

By Timothea N S E

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May 4, 2020

barely any explanations when answer is wrong.

By Mindaugas

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Oct 25, 2020

bulshit