subject
Intro

edX: Statistics for Business – I

 with  Ishita Kumar and Shankar Venkatagiri

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.

4 Student
reviews
Cost Free Online Course
Pace Self Paced
Provider edX
Language English
Hours 5-7 hours a week
Calendar 8 weeks long
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A hands-on, spreadsheet-based introduction to statistics and probability that will allow you to apply what you have learned to real business problems. Read Review
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What are MOOCs?
MOOCs stand for Massive Open Online Courses. These are free online courses from universities around the world (eg. Stanford Harvard MIT) offered to anyone with an internet connection.
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4 reviews for edX's Statistics for Business – I

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2 years ago
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 distri Read More
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 and a final exam.

Weekly content in Statistics for Business I consists of a series of relatively short lectures interspersed with comprehension questions, followed by several exercises and caselets to let students apply what they’ve learned. The lectures themselves are well-made strike a good balance between instructor face time and showing spreadsheet operations. The lead instructor, Shankar, is easy to understand and has some lighthearted yet instructive interactions with is brainy assistant Lysa (she’s a plastic brain that sits on his desk.). Each week has a ton of comprehension questions and exercises to let students get practice with the spreadsheet operations and concepts presented in lecture. Hands-on practice is essential for skill building, so having plenty of exercises is a good thing.

Statistics for Business I starts out slow, but the pace picks up toward the final lessons. Some students might feel that the last couple of lessons cover too many concepts in one week. Although having plenty of exercises is generally a good thing, the large number of easy, repetitive exercises grew tiresome. The course might benefit from making some of the exercises optional so that students who need more practice can get it, while those who don’t can skip ahead.

Statistics for Business I is a good course for learning how to deal with numbers in Excel, but the large of number of graded exercises can make things tedious at times. This course is best suited for beginners in statistics with basic knowledge of spreadsheets and those who know some statistics and want more experience using Excel. Statistics for Business II is set to launch in October 2015.

I give Statistics for Business I 4 out of 5 stars: Very good.

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2 years ago
Vijayakumar Menon N 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 man Read More
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 from them for prudent decision making. It will also enable them to create highly impressive business reports with various kinds of charts and tables. Prof Shankar Venkatagiri, with his excellent teaching skills, makes the subject very interesting. The videos are of high quality and the features of the edX platform makes it a pleasure to learn this course. Thanks to the instructor, edX and IIMB for this great course which is to be followed soon by three more courses in the series.
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2 years ago
Rodrigo Serrano 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 abstract Read More
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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2 years ago
Thong Buu Tran 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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