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. Specifically, you will be introduced to statistics and how to summarize data and learn concepts of frequency, normal distribution, statistical studies, sampling, and confidence intervals.
While you will be introduced to some of the science of what is being taught, the focus will be on applying the methodologies. This will be accomplished through the use of Excel and data sets from many different disciplines, allowing you to see the use of statistics in very diverse settings. The course will focus not only on explaining these concepts, but also understanding the meaning of the results obtained.
Upon successful completion of this course, you will be able to:
• Summarize large data sets in graphical, tabular, and numerical forms.
• Understand the significance of proper sampling and why you can rely on sample information.
• Understand why normal distribution can be used in so many settings.
• Use sample information to infer about the population with a certain level of confidence about the accuracy of the estimations.
• Use Excel for statistical analysis.
This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
This course is part of the Managerial Economics and Business Analysis Specialization
Exploring and Producing Data for Business Decision Making
Offered By
About this Course
4.8
231 ratings
Skills you will gain
Data AnalysisMicrosoft ExcelStatistical AnalysisNormal Distribution
Syllabus - What you will learn from this course
Week
1Course 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.
2 videos (Total 7 min), 6 readings, 1 quiz
2 videos
Excel Data Analysis Toolpak1m
6 readings
Syllabus10m
About the Discussion Forums4m
Glossary5m
Using Excel for this Course10m
Updating Your Profile10m
Social Media4m
1 practice exercise
Orientation Quiz10m
Module 1: Introduction and Summarizing Data
Data is all around you, but what is the data telling you? The first step in making better decisions and taking action is to get a good understanding of information you have gathered. In this module we will learn about some of the tools in statistics that help us achieve this.
11 videos (Total 63 min), 2 readings, 6 quizzes
11 videos
1-2.1. Summarizing Data: Frequency Tables7m
1-2.2. Frequency Tables in Excel: Quantitative Data6m
1-2.3. Frequency Tables in Excel: Qualitative Data6m
1-2.4. Presenting Frequency Tables as a Bar Graph in Excel2m
1-3.1. Summarizing Data: Histograms5m
1-3.2. Histograms in Excel7m
1-4.1. Summarizing Data: Pie Charts4m
1-4.2. Pie Charts in Excel5m
1-5.1. Summarizing Data: Scatter Plots4m
1-5.2. Scatter Plots in Excel4m
2 readings
Module 1 Overview3m
Module 1 Readings45m
6 practice exercises
Lesson 1-1 Practice Quiz6m
Lesson 1-2 Practice Quiz10m
Lesson 1-3 Practice Quiz8m
Lesson 1-4 Practice Quiz8m
Lesson 1-5 Practice Quiz8m
Module 1 Quiz38m
Week
2Module 2: Descriptive Statistics and Probability Distributions
We all have heard the phrase that a "picture is worth a thousand words," but you certainly don’t want one of those to be "what exactly am I looking at?" So, now that you know to use "pictures" to summarize your data, let’s make those pictures easier to understand.
16 videos (Total 107 min), 2 readings, 7 quizzes
16 videos
2-1.2. Mean and Median in Excel3m
2-2.1. Measures of Dispersion9m
2-2.2. Standard Deviation in Excel2m
2-3.1. Percentiles and Z-Score13m
2-3.2. Z-Score in Excel5m
2-4.1. Discrete and Continuous Random Variables11m
2-4.2. Expected Value in Excel6m
2-5.1. Normal Distribution10m
2-5.2. Normal Distribution in Excel5m
2-5.3. Standard Normal Distribution in Excel4m
2-5.4. "Less Than" in Excel1m
2-5.5. "Greater Than" in Excel1m
2-5.6. "Between Values" in Excel1m
2-5.7. Finding Z for a Given Probability (INV) in Excel3m
2-6.1. Standard Normal Distribution Table14m
2 readings
Module 2 Overview3m
Module 2 Readings15m
7 practice exercises
Lesson 2-1 Practice Quiz6m
Lesson 2-2 Practice Quiz8m
Lesson 2-3 Practice Quiz6m
Lesson 2-4 Practice Quiz6m
Lesson 2-5 Practice Quiz6m
Lesson 2-6 Practice Quiz6m
Module 2 Quiz30m
Week
3Module 3: Sampling and Central Limit Theorem
You are charged with analyzing a market segment for your company. You and your team have figured out what variables you need to understand; you also have an idea what factors might be influencing these variables of interest. Now you are ready to do your analysis. But, wait! Where is the data? How do you begin to get the data? In this module we will review the means by which you can begin to produce data – the concepts of sampling and Central Limit Theorem – and will help you understand how to produce "good" sample data and why sample data will work.
7 videos (Total 63 min), 2 readings, 6 quizzes
7 videos
3-2.1. Sampling14m
3-2.2 Sampling Function in Excel6m
3-3.1. Central Limit Theorem and Sampling Means9m
3-3.2. Animating the Central Limit Theorem6m
3-3.3. Sampling Distribution and Empirical Rule in Excel11m
3-4.1. Central Limit Theorem – Sampling Proportion5m
2 readings
Module 3 Overview3m
Module 3 Readings30m
5 practice exercises
Lesson 3-1 Practice Quiz8m
Lesson 3-2 Practice Quiz8m
Lesson 3-3 Practice Quiz6m
Lesson 3-4 Practice Quiz6m
Module 3 Quiz44m
Week
4Module 4: Inference
You have sample data and have done the analysis – you think you can say something about the population based on your sample study. But, do you have a sense of what are the chances of you being right or wrong? How can you be surer? What else should you have considered? In this module, you will learn how to find the answers to these questions.
12 videos (Total 97 min), 2 readings, 5 quizzes
12 videos
4-2.1. Confidence Interval for Means9m
4-2.2. Confidence Interval for Mean in Excel8m
4-2.3. Impact of Confidence Level Illustrated in Excel4m
4-3.1. Confidence Interval for Population Proportion10m
4-3.2. Confidence Interval for Population Proportion in Excel8m
4-3.3. Confidence Interval Animation in Excel5m
4-3.4. Starting Salary Example in Excel7m
4-4.1. Sample Size9m
4-4.2. Sample Size Proportion in Excel3m
4-4.3. Sample Size Mean in Excel7m
4-4.4. Sample Size Effect in Excel5m
2 readings
Module 4 Overview3m
Module 4 Readings20m
5 practice exercises
Lesson 4-1 Practice Quiz6m
Lesson 4-2 Practice Quiz6m
Lesson 4-3 Practice Quiz6m
Lesson 4-4 Practice Quiz8m
Module 4 Quiz20m
4.8
55 Reviews50%
got a tangible career benefit from this course
50%
got a pay increase or promotion
Top Reviews
By JY•May 15th 2018
The separation of the concepts and Excel skills made the lessons very easy to navigate. Although I knew the concepts from a previous statistics course, the Excel skills made everything feel like new!
By RS•Apr 21st 2018
In my opinion, this is a good course. The content really aims at teaching how to better understand and use statistics. In the end, I am glad that I chose this course.
Instructor
Fataneh Taghaboni-Dutta
Clinical Professor of Business AdministrationUniversity of Illinois, Urbana-Champaign College of Business Department of Business Administration
Start working towards your Master's degree
This course is part of the 100% online Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign.
If you are admitted to the full program, your courses count towards your degree learning.
About University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
About the Managerial Economics and Business Analysis Specialization
In order to effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environment they operate in. In this Specialization, you will build a solid understanding of the operation of markets and the macro-economic environment with real-world examples. You will be able to identify firm and country-level economic factors that impact business decisions, develop an analytical framework using statistical tools, and apply economic theory and data in the analysis of business environment and trends to make effective business decisions.
The capstone project involves an in-depth analysis of an actual business situation in which you will examine the global economic environment of a business. The final project will be a business plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates.
This Specialization is part of the University of Illinois Masters of Business Administration degree program, the iMBA. Learn more about the admission into the program here and how your Coursera work can be leveraged if accepted into the program. You can also start with for-credit courses within the Illinois iMBA degree program.
Frequently Asked Questions
When will I have access to the lectures and assignments?
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
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