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

4.7
stars
2,562 ratings

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

SN

Aug 20, 2021

This was a really enjoyable course, but challenging too. I struggled a bit with the final assignment, but nailed it in the end. My statistical knowledge base has indeed been enhanced by this course.

EM

Aug 26, 2020

This is one of the best courses i have atended since, the exercises are all related to the topic.Great job. .

Thanks to Mr Sharad Borle for explaining very well the content in this course .

Filter by:

51 - 75 of 422 Reviews for Basic Data Descriptors, Statistical Distributions, and Application to Business Decisions

By shukri A

•

Oct 18, 2021

The course was fun and easy to follow through and i liked that when encountered with problem there is a discussion forum where facilitators and fellow students helped in solving it.

thank you professor

By Senzo N

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Aug 21, 2021

This was a really enjoyable course, but challenging too. I struggled a bit with the final assignment, but nailed it in the end. My statistical knowledge base has indeed been enhanced by this course.

By Edmundo m

•

Aug 27, 2020

This is one of the best courses i have atended since, the exercises are all related to the topic.Great job. .

Thanks to Mr Sharad Borle for explaining very well the content in this course .

By Bhumika R

•

Aug 1, 2020

Very

basic

course.

Along

with

the

videos,

some

reading

material

for

detailed

understanding

of

conceptual

topics

like

binomial

and

other

distributions

is

needed

By Moshiur R 1

•

Jan 19, 2021

It was a very good course, the concepts were taught very clearly. But it was just surface level idea about each. Looking forward to cementing the concepts in the following courses!

By Dibyajyoti D

•

Aug 16, 2020

A Wonderfully structured Course that provides you with the base to start your journey in Business Statistics. Best part is if you want you can complete this course in about 2 days.

By Carlos J B A

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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

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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 nima s

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Dec 5, 2021

It was great introduction to Business and Analytics using Statistics. The instructor goes over various type of distribution and its application in business task by using excel.

By Yusuf Z

•

Feb 6, 2023

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.

By Noaman R

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Sep 27, 2021

Excellent course for someone who wants to learn statistics. This is a fantastic course for a person that wants to learn real world examples rather bogged down with formulas.

By Orville L L

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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 Md. A R P

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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

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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

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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

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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

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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

By Aviroop B

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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

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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 S H

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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

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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 Dr. A R G

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Aug 22, 2021

wonderful course . course is very well designed. Mr. Sharad Borle explained the content of this course in a very simple manner. i also enjoyed the quizzes.

By Priyanka P

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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 Adebanke O

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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.