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Inferential and Predictive Statistics for Business

Approx. 19 hours to complete

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Course Summary

This course provides an introduction to business statistics, covering topics such as sampling, data analysis, hypothesis testing, and regression analysis.

Key Learning Points

Learn how to effectively use statistics to make informed business decisions
Gain practical skills in data analysis
Understand statistical concepts such as sampling and hypothesis testing

Learning Outcomes

Understand statistical concepts and apply them to real-world problems
Effectively analyze data and draw conclusions
Learn to use statistical software such as Excel and R

Prerequisites or good to have knowledge before taking this course

Basic knowledge of algebra
Familiarity with spreadsheet software such as Excel

Course Difficulty Level

Intermediate

Course Format

Online
Self-paced

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Introduction to Data Analysis Using Excel

Related Education Paths

Business Analytics Certification

Related Books

Description

This course provides an analytical framework to help you evaluate key problems in a structured fashion and will equip you with tools to better manage the uncertainties that pervade and complicate business processes. To this end, the course aims to cover statistical ideas that apply to managers by discussing two basic themes: first, is recognizing and describing variations present in everything around us, and then modeling and making decisions in the presence of these variations. The fundamental concepts studied in this course will reappear in many other classes and business settings. Our focus will be on interpreting the meaning of the results in a business and managerial setting.

While you will be introduced to some of the science of what is being taught, the focus will be on applying the methodologies. This will be accomplished through use of Excel and using data sets from many different disciplines, allowing you to see the use of statistics in very diverse settings. The course will focus not only on explaining these concepts but also understanding the meaning of the results obtained. You will be able to: • Test for beliefs about a population • Compare differences between populations • Use linear regression model for prediction • Use Excel for statistical analysis This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

Outline

Course Orientation
Welcome to Inferential and Predictive Statistics for Business!
Learn on Your Terms
Excel Data Analysis Toolpak
Syllabus
ePub
About the Discussion Forums
Glossary
Learn More About Flexible Learning Paths
Using Excel for this Course
Updating Your Profile
Orientation Quiz

Module 1: Hypothesis Testing
1-1.1. Formulating the Hypothesis
1-2.1. Analyzing the Result
1-3.1. Two-Tail Test for Mean
1-3.2. Two-Tail Test for Mean in Excel
1-4.1. One-Tail Test for Mean
1-4.2. Left-Tail Test for Mean in Excel
1-4.3. Right-Tail Test for Mean in Excel
1-5.1. Testing the Proportion
1-5.2. Left-Tail Test for Proportion in Excel
1-5.3. Right-Tail Test for Proportion in Excel
1-5.4. Two-Tail Test for Proportion in Excel
Module 1 Overview
Module 1 Readings
Lesson 1-1 Practice Quiz
Lesson 1-2 Practice Quiz
Lesson 1-3 Practice Quiz
Lesson 1-4 Practice Quiz
Lesson 1-5 Practice Quiz
Module 1 Quiz

Module 2: Statistical Inference Based on Two Samples
2-1.1. Testing for No Difference in Means
2-1.2. Testing for No Difference in Means in Excel
2-1.3. Two-Tail Mean Test for Two Samples and Calculating the Confidence Interval in Excel
2-2.1. One-Tail Test of the Means
2-2.2. One-Tail Test of the Means in Excel
2-3.1. Testing for a Specific Value in Means
2-4.1. Paired Tests
2-4.2. Paired Test in Excel
2-5.1. Test of Proportions
2-5.2. One-Tail Test of Proportions for Two Samples in Excel
2-5.3. Two-Tail Test of Proportions for Two Samples in Excel
Module 2 Overview
Module 2 Readings
Lesson 2-1 Practice Quiz
Lesson 2-2 Practice Quiz
Lesson 2-3 Practice Quiz
Lesson 2-4 Practice Quiz
Lesson 2-5 Practice Quiz
Module 2 Quiz

Module 3: Simple Linear Regression
3-1.1. An Introduction
3-2.1. Least Square Methods
3-2.2. Least Square Method in Excel
3-3.1. Assessing the Regression Model
3-3.2. Testing the Significance in Excel
3-4.1. Using the Model
3-4.2. Simple Linear Regression: Excel Output Analysis
3-5.1. Model Assumptions and Limitations
3-5.2. Residual Analysis in Excel
Module 3 Overview
Module 3 Readings
Lesson 3-1 Practice Quiz
Lesson 3-2 Practice Quiz
Lesson 3-3 Practice Quiz
Lesson 3-4 Practice Quiz
Lesson 3-5 Practice Quiz
Module 3 Quiz

Module 4: Multiple Linear Regression
4-1.1. Model Introduction
4-1.2. Developing Multiple Regression Model in Excel
4-1.3. Multiple Regression: Excel Output Analysis
4-2.1. Qualitative Data – Two Categories
4-2.2. Dummy Variable in Excel – Two Categories
4-3.1. Qualitative Data – Many Categories
4-3.2. Dummy Variable in Excel – Many Categories
Gies Online Programs
Module 4 Overview
Module 4 Readings
Congratulations!
Get Your Course Certificate
Lesson 4-1 Practice Quiz
Lesson 4-2 Practice Quiz
Lesson 4-3 Practice Quiz
Module 4 Quiz

Summary of User Reviews

Learn Business Statistics with Coursera and improve your analytical skills. This course has received positive reviews from users. Many users have praised the course for its practical approach to learning statistics.

Key Aspect Users Liked About This Course

The course's practical approach to learning statistics

Pros from User Reviews

The course is well-structured and easy to follow
The instructors are knowledgeable and engaging
The course material is relevant and applicable to real-world scenarios
The course provides ample practice exercises and quizzes
The course offers a valuable certificate upon completion

Cons from User Reviews

Some users found the course to be too basic for their level of expertise
The course may be too challenging for beginners with no prior knowledge of statistics
The course lacks interaction with other students
Some users felt that the course could benefit from more in-depth explanations and examples
The course may be too time-consuming for users with busy schedules

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