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

4.8
stars
985 ratings
163 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

AU

May 06, 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.

M

Aug 21, 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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26 - 50 of 161 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Shady N S

Nov 26, 2018

I am from Applied Statistics background, and I used to do these tests by hands. I really have enjoyed doing them on Excel as well. Thanks for this amazing course! :)

By Saurav k

May 20, 2020

IT's amazing everyone can do as it covers all the basics from scratch so i will recommend to all who wants to get a carrier in business statistics and analysis.

By Ameya A K

Jul 22, 2020

Sharad Sir Rocks!!!

Cleared concepts about confidence interval pending from last so many years and now 99% confident to teach this topic !

Lucid Explanation!

By Theophilus O A

Sep 01, 2020

Great knowledge received from Prof Borle. I am truly grateful for the easy and elaborate explanations to make the course really understandable. Thank you.

By Vipul J

Jul 31, 2020

Amazing course and it covers everything about hypothesis testing that one needs to know and it has been explained without going too deep in the concept.

By DEEPTI C

Jan 12, 2019

Course is very well organized and the concepts are explained in a very simple and effective way.

The weekly exercises provide a good hands on practice.

By Saiful R

Sep 29, 2020

Saya belajar banyak tentang Hypothesis Testing dan penerapnnya dalam bisnis, materi dan praktik dengan excel disampaikan dengan baik dan terstruktur.

By Bhavin C

Nov 19, 2019

Great job in simplifying the explanation of paired t-tests. I had studied it before but did not fully understand it till after taking this course.

By ARVIND K S

Mar 15, 2019

Probably the best course on confidence intervals and hypothesis testing. A must for all engineering and management students and managers.

By Mohammad R

Sep 16, 2020

Wonderful insight into the excel applications of statistics and increased my confidence. Looking forward to attending all the courses.

By Sidhyant K U

May 25, 2020

This course is Well designed to know about hypothesis testing and its application in real life. But you need to have prior knowledge.

By Amit S

Jun 22, 2020

One of the best courses for learning applications of Statistics on the real-world with examples taken from real-world scenarios.

By Gabriel A F G

Sep 22, 2020

Muy buen curso, explica de manera concisa los fundamentos de cada método aplicado y luego muestra y explica ejemplos reales.

By Siddharth S

Jan 22, 2018

Great course to master inferential statistics. Learnt a lot in this course and will be applying the learnings in the future.

By Oliver W

Jan 28, 2018

An incredibly good course. Having studied business statistics years ago I needed a refresher and this was just the ticket.

By Rajat g

Jun 26, 2020

Just amazing, thoroughly enjoyed the course, the instructor explains every concept with examples and explains so nicely.

By Lalit G

Aug 03, 2019

Amazing course...Learnt lot of beautiful things in Excel and Statistics which was not there anywhere...Good course..

By Ernesto B P

Mar 20, 2019

Very nice and easy to follow course. I have had a great experience learning the Hypothesis Testing secrets in Excel.

By EDIRIMUNI C S S D S

Oct 15, 2020

Learn how to build Hypothesis building and validaete using excel tools ,Great experience and hands on training

By Alex M

Apr 14, 2018

The quizzes for this course are very well-done, quite challenging and certainly very satisfying to get through.

By Kumar N

Mar 08, 2020

Ultimate guidance and cource material provided by Rice universitya nd guided by professor Mr. Sharad Bordale.

By SAKSHI C

Jul 27, 2017

very well structured curriculum. a must do for anyone looking to understand the basic of hypothesis testing

By Matteo G

Apr 04, 2020

I enjoyed the multiple case-studies and the clarity with which complex concepts are presented. Well done!

By Ramesh K

May 06, 2020

Excellent Course. Super good Course content, Great Professor. Thank you once again, Prof.Shard Borle.

By Aakash G

May 10, 2020

It provided me a lot of understanding about the methods that can be used before taking any decision.