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Statistics for Business – I

Indian Institute of Management Bangalore via edX

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Overview

Statistics is a versatile discipline that has revolutionized the fields of business, engineering, medicine and pure sciences. This course is Part 1 of a 4-part series on Business Statistics, and is ideal for learners who wish to enroll in business programs. The first two courses cover topics in Descriptive Statistics, whereas the next two courses focus on Inferential Statistics.

Spreadsheets containing real data from diverse areas such as economics, finance and HR drive much of our discussions.

In Part 1, we shall be exploring multiple ways to describe these datasets, numerically as well as visually. Throughout, we shall embrace a problem-based approach to understanding the material: the primary reason to pick up a tool or a technique will be to solve a problem. Our course makes judicious use of tools.

In Part 2, we shall take up a few datasets that have over a million rows, which makes it impossible to analyze using a spreadsheet. This is a natural setting for R, an advanced statistical programming platform. The courses incorporate helpful tutorials to get learners acquainted with both the mechanisms. Parts 3 and 4 are dedicated to Inferential Statistics. In Part 3, we begin by exploring the benefits of random sampling, and apply the Central Limit Theorem to arrive at confidence intervals for important population parameters. We also learn how to formulate hypotheses for business data, and resolve them with the testing framework that we establish. Along the way, we shall compare two or more populations and draw inferences with a set of statistical tests.

You will learn all these concepts with the help of various demonstrations, which show real-life application of the concepts related to business situations.

Taught by

Ishita Kumar and Shankar Venkatagiri

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Reviews for edX's Statistics for Business – I
4.8 Based on 4 reviews

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Gregory S
4.0 3 years ago
by Gregory completed this course.
Statistics for Business I is a spreadsheet-focused statistics course offered by the Indian Institute of Management, Bangalore through the edX platform. The course spans 5 weeks including 4 weekly lessons and one week for a final exam. Course topics include descriptive statistics, variable summaries, the shape of distributions and probability. The course has no prerequisites other than having access to Microsoft Excel. You may be able to get by with a free alternative like LibreOffice, but the course lectures use Excel. Grading is based on lecture comprehension questions, exercises, caselets an…
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Vijayakumar N
5.0 3 years ago
by Vijayakumar completed this course, spending 6 hours a week on it and found the course difficulty to be medium.
This course QM101.1xc covers a lot of ground in Descriptive Statistics and probability theory, and the practical application of this knowledge using Excel spreadsheet, to analyze fairly large data sets generated in business organizations. It is highly recommended for business executives and students doing business management courses. The learner will gain sufficient expertise in data analysis by attempting the large number of exercises, case-lets and a final exam. The knowledge gained will be highly useful to practicing managers for analyzing their business data and drawing valuable insights…
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Rodrigo S
5.0 3 years ago
by Rodrigo is taking this course right now, spending 4 hours a week on it and found the course difficulty to be medium.
This is a hands-on, spreadsheet-based beginner course in statistics and basic probability theory. Most lecture videos require you to manipulate data within your spreadsheet software using filters, pivot tables and graphs; so you immediately put the theory in practice. I had personally always struggled with the abstraction of most probability theory courses and this course allowed me to both undestand and apply probabilities to real business problems.

In general, I believe this course will provide you with basic yet job-market-valuable spreadsheet, statistics and probability skills.
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Thong T
5.0 3 years ago
by Thong completed this course, spending 5 hours a week on it and found the course difficulty to be hard.
I learned a lot of Excel and basic statistics from this course. The weekly assignments were practical, emphasizing learning-by-doing technique that helps student remember the concepts and Excel functions.
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