Data Descriptors & Business Decisions
Master essential statistical concepts for business decision-making. Learn descriptive statistics, probability distributions, and data analysis using Excel.
Master essential statistical concepts for business decision-making. Learn descriptive statistics, probability distributions, and data analysis using Excel.
This course cannot be purchased separately - to access the complete learning experience, graded assignments, and earn certificates, you'll need to enroll in the full Business Statistics and Analysis Specialization program. You can audit this specific course for free to explore the content, which includes access to course materials and lectures. This allows you to learn at your own pace without any financial commitment.
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English
پښتو, বাংলা, اردو, 2 more
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What you'll learn
Calculate and interpret descriptive statistics including mean, median, standard deviation, and variance
Create and analyze box plots to visualize data distributions
Understand the relationship between variables using correlation and covariance measures
Apply the Normal distribution to solve business problems using Excel functions
Work with Binomial and Poisson distributions for discrete event analysis
Understand the Central Limit Theorem and its importance in statistical inference
Skills you'll gain
This course includes:
2.7 Hours PreRecorded video
26 assignments
Access on Mobile, Tablet, Desktop
FullTime access
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There are 4 modules in this course
This foundational course introduces the essential concepts of business statistics with a focus on practical application rather than mathematical theory. The curriculum begins with descriptive statistics, teaching students how to summarize data using measures of central tendency (mean, median, mode) and measures of spread (range, standard deviation, variance). Learners master the creation and interpretation of box plots and apply rule-of-thumb techniques and Chebyshev's theorem to better understand variation in data. The course then explores correlation and covariance, emphasizing the critical distinction between correlation and causation in business contexts. The second half of the course focuses on probability and statistical distributions, with particular attention to the Normal distribution and its applications. Students learn to work with Excel functions like NORM.DIST and NORM.INV to calculate probabilities and outcomes. The course concludes with an introduction to the Binomial and Poisson distributions and the Central Limit Theorem, establishing the connection between sample and population data. Throughout the course, concepts are reinforced through business-relevant examples and Excel-based applications.
Basic Data Descriptors
Module 1 · 5 Hours to complete
Descriptive Measures of Association, Probability, and Statistical Distributions
Module 2 · 4 Hours to complete
The Normal Distribution
Module 3 · 5 Hours to complete
Working with Distributions (Normal, Binomial, Poisson), Population and Sample Data
Module 4 · 5 Hours to complete
Fee Structure
Instructor
Associate Professor of Management
Sharad is a faculty of Management at the Jones Graduate School of Business at Rice University, Houston, Texas. He holds a Ph.D. from Carnegie Mellon University, and his expertise lies in Business statistics and data analytics.
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