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.
About this Course
Learner Career Outcomes
Learner Career Outcomes
Rice University is consistently ranked among the top 20 universities in the U.S. and the top 100 in the world. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy.
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TOP REVIEWS FROM BASIC DATA DESCRIPTORS, STATISTICAL DISTRIBUTIONS, AND APPLICATION TO BUSINESS DECISIONS
The course has been designed in a manner to give maximum understanding of the concept. The Quizzes are really grilling. and helps you strengthen the knowledge gained from the lecture videos.
A rewarding experience because I have been able to learn very valuable information. It is an excellent course. It has helped me in the personal and professional field. Thank you.
Loved studing and learning about normal distributions, continuous vs discrete data and how to estimate probabilities by different distributions approach. Learning is fascinating
I personally loved it!! Coming from a technical background, it really helped me to understand how we can apply the concepts and techniques to real world/practical problems.
About the Business Statistics and Analysis Specialization
Frequently Asked Questions
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