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.
This course is part of the Managerial Economics and Business Analysis Specialization
Offered By
Managerial Economics and Business Analysis SpecializationUniversity of Illinois at Urbana-ChampaignAbout this Course
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Learner Career Outcomes
50%
got a tangible career benefit from this course
50%
got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
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Start instantly and learn at your own schedule.
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Flexible deadlines
Reset deadlines in accordance to your schedule.
Beginner Level
Approx. 23 hours to complete
English
Subtitles: Arabic, French, Portuguese (European), Chinese (Simplified), Italian, Vietnamese, Korean, German, Russian, Turkish, English, Spanish
Skills you will gain
Data AnalysisMicrosoft ExcelStatistical AnalysisNormal Distribution
Learner Career Outcomes
50%
got a tangible career benefit from this course
50%
got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 5 of 7 in the
Flexible deadlines
Reset deadlines in accordance to your schedule.
Beginner Level
Approx. 23 hours to complete
English
Subtitles: Arabic, French, Portuguese (European), Chinese (Simplified), Italian, Vietnamese, Korean, German, Russian, Turkish, English, Spanish
Offered by
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.
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.
Syllabus - What you will learn from this course
2 hours to complete
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.
2 hours to complete
2 videos (Total 7 min), 6 readings, 1 quiz
2 videos
Excel Data Analysis Toolpak1m
6 readings
Syllabus10m
ePub10m
About the Discussion Forums4m
Glossary5m
Using Excel for this Course10m
Updating Your Profile10m
1 practice exercise
Orientation Quiz30m
5 hours to complete
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.
5 hours to complete
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 Quiz30m
Lesson 1-2 Practice Quiz30m
Lesson 1-3 Practice Quiz30m
Lesson 1-4 Practice Quiz30m
Lesson 1-5 Practice Quiz30m
Module 1 Quiz30m
7 hours to complete
Module 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.
7 hours to complete
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 Readings1h 15m
7 practice exercises
Lesson 2-1 Practice Quiz30m
Lesson 2-2 Practice Quiz30m
Lesson 2-3 Practice Quiz30m
Lesson 2-4 Practice Quiz30m
Lesson 2-5 Practice Quiz30m
Lesson 2-6 Practice Quiz30m
Module 2 Quiz30m
5 hours to complete
Module 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.
5 hours to complete
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 Quiz30m
Lesson 3-2 Practice Quiz30m
Lesson 3-3 Practice Quiz30m
Lesson 3-4 Practice Quiz30m
Module 3 Quiz30m
5 hours to complete
Module 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.
5 hours to complete
13 videos (Total 101 min), 3 readings, 5 quizzes
13 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
Gies Online Programs3m
3 readings
Module 4 Overview3m
Module 4 Readings20m
Congratulations!10m
5 practice exercises
Lesson 4-1 Practice Quiz30m
Lesson 4-2 Practice Quiz30m
Lesson 4-3 Practice Quiz30m
Lesson 4-4 Practice Quiz30m
Module 4 Quiz30m
Reviews
TOP REVIEWS FROM EXPLORING AND PRODUCING DATA FOR BUSINESS DECISION MAKING
by DAMay 14, 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 OASep 4, 2020
The class was difficult . The professor is demanding and very knowledgeable. She makes sure you learn the material and that you understand it. I learned a lot and I am very happy I took this class.
by RDJun 1, 2019
Very useful for beginners as well as anyone interested in learning some basics. Highly recommended for managers and people trying to figure out what insights can be obtained form data
by EWApr 18, 2019
This professor does an exceptional job of breaking down complex concepts and calculations without diluting the material. The statistical examples are highly relevant and interesting.
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.
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