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Back to Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

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

1,999 ratings
334 reviews

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

Aug 26, 2020

This is one of the best courses i have atended since, the exercises are all related to the topic.Great job. .\n\nThanks to Mr Sharad Borle for explaining very well the content in this course .

Aug 22, 2017

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.

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51 - 75 of 330 Reviews for Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

By Carlos J B A

May 5, 2019

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.

By Sofia L

Jul 3, 2018

Loved studing and learning about normal distributions, continuous vs discrete data and how to estimate probabilities by different distributions approach. Learning is fascinating

By Orville L

Sep 23, 2020

Excellent exposition on popular statistical functions such as Binomial, Poisson and Normal distribution functions. Thorough understanding of discrete versus continuous data.

By Ashfaqur R P

Jun 23, 2020

The Instructor is awesome. Every content is been introduced simply that anyone can understand. The course will increase your intention towards the statistics in daily life.

By Asha

Jan 8, 2018

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.

By Joao S

Nov 3, 2020

well, im very satisfied with this course. i was wanting any course that show me applications of probability functions in business and it is exactly that is inside course.

By Dhimant P

Mar 7, 2020

Learned good statistics on practical problems. I love the fact that instructor provides enough discussion so when faced with real world problems, you know how to proceed.

By Kevin G

Jul 3, 2018

Very interesting course on the practical applications of statistics in business and other matters. Professor was very informed and made concepts easy to absorb and appl


Feb 28, 2018

Statistical concepts were made very clear in this course. Very useful course if someone wants to implement stats in real business scenarios. I've ENJOYED thoroughly!!

By Himanshu B

Jun 5, 2020

Great course to understand statistics and start with Business Analytics. Builds the base with great methodology and professor is evident to be highly experienced.

By Scott H

May 8, 2018

I really like Professor Borle,

He speaks very clearly and concisely.....easy to understand even for a non-technical person like me. Five claps for this class.

By Padmaja D

Apr 18, 2018

A lot of real life examples to understand the concept clearly is extremely valuable. Its an excellent course and I have gained a lot of knowledge form this.

By Priyanka P

Aug 7, 2018

Questions of the last week are very tricky. Would appreciate if you could provide the answers with an explanation , it would help us to understand better.

By Okulalu A

Sep 23, 2020

It was an intensive learning process. My mind was opened to new skills .

Thank you to the facilitator, Rice University and coursera for this possibility.

By Orin E

Oct 18, 2020

The presenter seems passionate about teach and he did a great job of explaining statistical concepts. Gives you a good overview of the topics covered.

By Ravi S

Jul 29, 2020

The content of the course help me to increase my analytical thinking, I really like the way teacher explains the concept and his presentation style.


May 10, 2020

This course features key topics which are used in Business Analytics, and predictions using Statistical tools. Mentor's work is really meritorious

By Harshit D

May 9, 2020

Mr. Sharad explained all the concept in a very student-friendly manner, cleared many concepts which weren't clear earlier. Thanks for the course.

By Vipul J

Jul 10, 2020

Amazing course! It covers most of the topics related to Statistical Distributions. Nicely structured course with very interesting quizzes.

By Jitka S

Mar 6, 2020

Excellent course, easy to follow. Clear explanations, practical examples and showing useful Excel functions make the course really great.

By Matthew

Sep 8, 2020

As it often is for Coursera, it's annoying to not be able to see the answers you missed but otherwise this is a solidly-designed course.

By Swetha P

Oct 30, 2020

A must and should choose! Every person who needs to excel in Business Analysis and Statistics should definitely take up this course.

By Gianina J C T

Aug 19, 2020

This course summarizes the most important things about the most popular Statistical Distributions very well and is very practical.


May 29, 2020

The course was very well structured and it has simplified the explanations of statistical distributions which were really helpful.

By Abhijeet B

Apr 14, 2020

The course is very useful in understanding the basic concept of statistics and ways it may be used in different industry domains.