This course is part of the Managerial Economics and Business Analysis Specialization

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Fataneh Taghaboni-Dutta, Ph.D., PMP

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Part of the Master of Business Administration (iMBA) degree

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Managerial Economics and Business Analysis SpecializationUniversity of Illinois at Urbana-Champaign

About this Course

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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 learn 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 different disciplines, allowing you to see the use of statistics in a range of settings. The course will focus not only on explaining these concepts, but also understanding and interpreting the results obtained. 

You will be able to: 

• Summarize large data sets in graphical, tabular, and numerical forms
• Understand the significance of proper sampling and why one can rely on sample information
• Understand why normal distribution can be used in a wide range of settings
• Use sample information to make inferences 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 Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 5 of 7 in the

Managerial Economics and Business Analysis Specialization

Beginner Level

Approx. 23 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, Korean, German, Russian, English, Spanish

Skills you will gain

Data AnalysisMicrosoft ExcelStatistical AnalysisNormal Distribution

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 5 of 7 in the

Managerial Economics and Business Analysis Specialization

Beginner Level

Approx. 23 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, Korean, German, Russian, English, Spanish

Instructor

Instructor rating

4.82/5 (129 Ratings)

Fataneh Taghaboni-Dutta, Ph.D., PMP

Clinical Professor of Business Administration

University of Illinois, Urbana-Champaign College of Business Department of Business Administration

44,275 Learners

7 Courses

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.

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Syllabus - What you will learn from this course

Content Rating95%(3,479 ratings)

Week

Week 1

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

3 videos (Total 8 min), 7 readings, 1 quiz

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

1-1.1. Basic Terminology7m

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

Week

Week 2

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

2-1.1. Measures of Central Tendencies10m

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

Week

Week 3

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

3-1.1. Producing Data10m

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

Week

Week 4

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), 4 readings, 5 quizzes

13 videos

4-1.1. Confidence Interval Basics15m

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

4 readings

Module 4 Overview3m

Module 4 Readings20m

Congratulations!10m

Get Your Course Certificate10m

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

4.8

193 reviews

5 stars
86.36%
4 stars
10.57%
3 stars
1.19%
2 stars
0.87%
1 star
0.98%

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.

View all reviews

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 in which they operate. 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 Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program here.

Managerial Economics and Business Analysis

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
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.
Is financial aid available?
Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You'll be prompted to complete an application and will be notified if you are approved. You'll need to complete this step for each course in the Specialization, including the Capstone Project. Learn more.

More questions? Visit the Learner Help Center.

Exploring and Producing Data for Business Decision Making

About this Course

Skills you will gain

Instructor

Fataneh Taghaboni-Dutta, Ph.D., PMP

Offered by

University of Illinois at Urbana-Champaign

Start working towards your Master's degree

Syllabus - What you will learn from this course

Week 1

Course Orientation

Module 1: Introduction and Summarizing Data

Week 2

Module 2: Descriptive Statistics and Probability Distributions

Week 3

Module 3: Sampling and Central Limit Theorem

Week 4

Module 4: Inference

Reviews

TOP REVIEWS FROM EXPLORING AND PRODUCING DATA FOR BUSINESS DECISION MAKING

About the Managerial Economics and Business Analysis Specialization

Frequently Asked Questions

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Exploring and Producing Data for Business Decision Making

About this Course

Skills you will gain

Instructor

Fataneh Taghaboni-Dutta, Ph.D., PMP

Offered by

University of Illinois at Urbana-Champaign

Start working towards your Master's degree

Syllabus - What you will learn from this course

Week 1

Course Orientation

Module 1: Introduction and Summarizing Data

Week 2

Module 2: Descriptive Statistics and Probability Distributions

Week 3

Module 3: Sampling and Central Limit Theorem

Week 4

Module 4: Inference

Reviews

TOP REVIEWS FROM EXPLORING AND PRODUCING DATA FOR BUSINESS DECISION MAKING

About the Managerial Economics and Business Analysis Specialization

Frequently Asked Questions

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Start or advance your career

Browse popular topics

Upskill your team

Earn a degree or certificate online

Coursera

Community

More