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Learner Reviews & Feedback for Business Applications of Hypothesis Testing and Confidence Interval Estimation by Rice University

1,128 ratings
197 reviews

About the Course

Confidence intervals and Hypothesis tests are very important tools in the Business Statistics toolbox. A mastery over these topics will help enhance your business decision making and allow you to understand and measure the extent of ‘risk’ or ‘uncertainty’ in various business processes. This is the third course in the specialization "Business Statistics and Analysis" and the course advances your knowledge about Business Statistics by introducing you to Confidence Intervals and Hypothesis Testing. We first conceptually understand these tools and their business application. We then introduce various calculations to constructing confidence intervals and to conduct different kinds of Hypothesis Tests. These are done by easy to understand applications. To successfully complete course assignments, students must have access to a Windows version of Microsoft Excel 2010 or later. Please note that earlier versions of Microsoft Excel (2007 and earlier) will not be compatible to some Excel functions covered in this course. WEEK 1 Module 1: Confidence Interval - Introduction In this module you will get to conceptually understand what a confidence interval is and how is its constructed. We will introduce the various building blocks for the confidence interval such as the t-distribution, the t-statistic, the z-statistic and their various excel formulas. We will then use these building blocks to construct confidence intervals. Topics covered include: • Introducing the t-distribution, the T.DIST and T.INV excel functions • Conceptual understanding of a Confidence Interval • The z-statistic and the t-statistic • Constructing a Confidence Interval using z-statistic and t-statistic WEEK 2 Module 2: Confidence Interval - Applications This module presents various business applications of the confidence interval including an application where we use the confidence interval to calculate an appropriate sample size. We also introduce with an application, the confidence interval for a population proportion. Towards the close of module we start introducing the concept of Hypothesis Testing. Topics covered include: • Applications of Confidence Interval • Confidence Interval for a Population Proportion • Sample Size Calculation • Hypothesis Testing, An Introduction WEEK 3 Module 3: Hypothesis Testing This module introduces Hypothesis Testing. You get to understand the logic behind hypothesis tests. The four steps for conducting a hypothesis test are introduced and you get to apply them for hypothesis tests for a population mean as well as population proportion. You will understand the difference between single tail hypothesis tests and two tail hypothesis tests and also the Type I and Type II errors associated with hypothesis tests and ways to reduce such errors. Topics covered include: • The Logic of Hypothesis Testing • The Four Steps for conducting a Hypothesis Test • Single Tail and Two Tail Hypothesis Tests • Guidelines, Formulas and an Application of Hypothesis Test • Hypothesis Test for a Population Proportion • Type I and Type II Errors in a Hypothesis WEEK 4 Module 4: Hypothesis Test - Differences in Mean In this module, you'll apply Hypothesis Tests to test the difference between two different data, such hypothesis tests are called difference in means tests. We will introduce the three kinds of difference in means test and apply them to various business applications. We will also introduce the Excel dialog box to conduct such hypothesis tests. Topics covered include: • Introducing the Difference-In-Means Hypothesis Test • Applications of the Difference-In-Means Hypothesis Test • The Equal & Unequal Variance Assumption and the Paired t-test for difference in means. • Some more applications...

Top reviews

May 5, 2020

The statistical concepts and methods are very well explained in an easy to understand manner. Good examples are given to demonstrate application of the cocepts and methods in business environment.

Aug 20, 2020

This course was very useful for me. We have learnt many interesting things of statistics like t statistic, t distribution, z statistics, confidence interval, sample proportion, hypothesis etc.

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1 - 25 of 195 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Sabarish V

Jan 1, 2019

The content was concise and easy to understand. However, in the hypothesis testing modules, the presenter conflates "being unable to reject a hypothesis" to "accept a hypothesis". This, I think, is a dangerous habit to learn, and undermines what is otherwise a well-prepared course.

By Karen S Z

Jul 21, 2018

I am completing the specialization so this is my 3rd class with this instructor. I am enjoying the classes and feel that each lesson and class builds on the last one. Everything is clearly explained and demonstrated. He provides most of the files he uses so you can try it yourself in Excel. The forum is helpful for the more challenging questions on the final quiz. Overall, I think the class is a good pace and the final quiz is representative of what the class covers. That is, not too hard and not too easy.

By Fahim A R

Aug 16, 2020

An wonderful course to learn applied statistics! The course will unveil the enormous support that Microsoft Excel Provides in using statistics. The course doesn't bother too much with the theory and it enables the learner to apply the tools in many many ways easily!

By NG, S L

Jun 14, 2021

l like the visual demonstrations of the powerpoint; it makes me follow the content easier. I also enjoy the application illustration because it gives me a real-life approach to the data. The pace is also controlled well and the professor mentions things logically without jumping steps as if we are beginners, ain't that great? Looking forward to course 4 of the specialisation.

By Hussain H

Sep 26, 2020

An excellent continuation of the specialization. The video lectures were clear and delivered on what was expected of it i.e. the business application of hypothesis testing and not the details behind the math of it. The weekly quizzes were good practice too.

By Kate G

Oct 17, 2017

Professor explains well and makes it easy to not only understand, but to remember what you learned in previous lessons even if you are going back after a long period of time between lessons.

By Susannah

Jun 16, 2020

I took this as part of the specialization, so this review applies to the whole 5-course specialization. The files and PowerPoint slides were well-done; for example, unlike some other Excel courses I've taken on Coursera, the PowerPoint slides are explanatory and clear, the text is big enough to be able to take screenshots of for note-taking purposes, and the quiz and test questions are clearly worded. Sharad also is a very good lecturer- engaging and doesn't rush through things; rather, he reminds you of things throughout the course, rather than just mentioning them once and then never explaining it again and assuming you remember it.

By Dr. R S

Sep 26, 2020

I am really fortunate enough to get the opportunity for learning through this course. Trainer is really awesome and I am really thankful to Coursera, the trainer and last but not the least, my organisation IEM-UEM group for sponsoring the course for us. I recommend this specialization course by RICE university to everyone who wish to learn the fundamentals and advanced topics of statistics as well as research. A big thanks to trainer Prof. Sharad.

By Amit M

Dec 12, 2018

The course is very helpful to learn and understand some really important and useful concepts of statistics. The course not only teach the concept but also we can practice it side by side ourselves also from the course material given by Coursera. Instructor is very good, this is my third course under a specialization by the same instructor and I must say one must take this course if they are going to use these concepts in future. Good Luck.

By Alberto C

Jun 6, 2021

T​eacher is excellent, explanations are through and final quizzes can be traced back to the logic used in previous lessons. I would caution someone taking this course that when you are doing the final quizzes using excel, you differentiate from the rounded answers you input, and the original totals that include all digits for your operations. If you don't perform the calculations with the original digits, they will be marked wrong.

By Akshay H

May 3, 2017

Anyone who want to understand the topic of confidence interval & Hypothesis Testing this COURSE IS MUST. Topics are explained in simple manner & with hands on exercise in Excel we can grasp topics thoroughly. Thank you so much for Rice University for such a wonderful course on CI & Hypothesis. Special thanks to Prod. Sharad & his team for coming with wonderful.simple yet effective course.

By Amin G

Jul 26, 2018

Great Course! I really admire the way the professor for this course teaches the fundamentals of Hypothesis testing and its use in practice with various useful examples in business applications!

Sharad Borle is one of the best instructors I've ever seen in my life! Highly recommended!

By Ronald N

Apr 16, 2017

An excellent course. Useful for researchers in other disciplines as well, such as social scientists, clinicians etc. The concepts were presented very clearly, and the exercises allow one to gauge one's understanding of the concepts and how to use Excel for those statistical studies.

By Nchedolisa S A

Dec 29, 2017

Lots of examples gone over step by step with the professor really helped me to hone in how to do EXCEL calculations to answer questions that require difference in means hypothesis testing! Very straightforward and loved the use of real world examples for practice

By Vikas S

Nov 16, 2020

Excellent course! Concepts are well explained with appropriate and easy to understand examples. Enough examples and practice quizzes are given to strengthen our understanding. The instructor was really good in his explanations. Definetly a recommended course!

By Truong T T H

Jul 2, 2020

It is a useful course which provide basic knowledge of hypothesis testing. With those knowledge of statistics, I can apply to my current job to get better understanding of my data. The examples are so easy to understand, and they provide real-world use-cases.

By Khary B

May 23, 2021

The Excel Tool lessons are phenomenal. I have statistics skills from my engineering courses in college, and this has exceeded my expectations. I know I can use this information to further my personal development and career development.

By Lori-Ann B

Oct 18, 2020

The course is challenging. However, if you want to better understand how business decisions are made, this course is an excellent primer. The examples used by the professor, give you an inside into how and why decisions are made.

By Himanshu B

Jun 12, 2020

It was a great learning experience, the way Mr. Sharad teaches the concepts with a pause and balance to ensure we get enough knowledge for Business application of statistics without Mathematical complications is really awesome.

By Leonel G

Apr 26, 2020

The complete specialization is superb. This course takes the use of statistics in business to real scenarios, and the knowledge can surely be applied right away. Excellent, very grateful it has been distributed on Coursera.

By Davinder S

Jul 1, 2017

Hypothesis testing is actually the most complex thing to grasp (of course after regression modeling). This course has been taught wonderfully and it will be a great help for managers out there in the field of analytics!

By Jitka S

Mar 6, 2020

I am very happy I took this course. Professor Borle explains the topic very clearly with lot of examples. I can recommend the course (and the all specialization). It makes statistic understandable for beginners.

By Michael I

Jun 27, 2020

The material was well presented and made easy to understand, the instructor patiently presents the details. I am reading another business course and already finds the material very useful. Highly recommended

By Brian B

May 7, 2020

Great Class. The lectures are clear and well done. The quizzes and tests are relevant, fun and I'm enjoying the challenge. The courses have been a welcomed activity during the Coronavirus crisis..thanks.

By Asmat U

May 6, 2020

The statistical concepts and methods are very well explained in an easy to understand manner. Good examples are given to demonstrate application of the cocepts and methods in business environment.