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
VJ
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.
BK
I felt this course was organized well and easy to follow with helpful examples and exercises. The instructor paces well and provides good explanations.
MR
Wonderful insight into the excel applications of statistics and increased my confidence. Looking forward to attending all the courses.
BK
Good explanations in videos, however sometimes there are to many repititions. As in previous courses, explanations after quizzes are missing.
AO
i really enjoyed learning this topic. some areas might have been a bit challenging but the teacher did an excellent job at explaining everything in detail.
AJ
It is an excellent course for learning statistical analysis through excel. It explains the concept of confidence interval and hypothesis testing in a simple and easy manner.
SK
I am very thankful for taking this course. Thank you for the Dr. teaching this Course. I have learnt a lot new things that I didn't know how to do in Excel, I loved hypothesis Testing !
TA
Great knowledge received from Prof Borle. I am truly grateful for the easy and elaborate explanations to make the course really understandable. Thank you.
SD
It's great/ but sometimes I find it a little confusing when so many new concepts come to me. Better take notes while you are having this course^-^
SK
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.
AK
Sharad Sir Rocks!!!Cleared concepts about confidence interval pending from last so many years and now 99% confident to teach this topic !Lucid Explanation!
MR
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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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.
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.
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!
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.
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.
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.
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.
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.
The most exciting and challenging excel course i have ever taken. It kept me on my toes and provided real life application of statistics. I didn't regret taking this course.
Difficult but explained very well by instructor.
awesome course
Excellent
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.
This course has the unique approach of byte-sized lessons - none longer than 4-5 minutes. This is especially helpful for my ADHD brain to not lose focus and/or get bored by long hours of lessons. The little practice quizzes after each lesson really help drill in the lesson one at a time, in a no-pressure environment.
I'm recommending this course to all my friend, and I seriously hope more courses and specializations consider taking up this approach of creating their lessons.
Thank you so much Sharad Borle sir and Coursera!
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.
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.
Teacher 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.
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.
A very well-explained course in Hypothesis Testing, Confidence Intervals, and related topics using Spreadsheets. Some background in mathematics and statistics helps to move on to the business literacy of statistics. One of the best MOOCs in classical data analytics and statistical decision-making.
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!