Business Statistics By Examples

This course is designed for MBA students, statistics students, statistics professionals, analytics professionals etc. who want to build their career in analytics and market research.

This course will teach you statistics in a simple and interesting way. Acquire the fundamental concepts from highly experienced instructor.

All presentations and Excel files used in this course are available to download in PDF format.

Course Package:

• 98 Videos
• 09 PDF files
• 16 Excel files

Key Takeaways:

• Know the genesis of popular statistical concepts
• Acquire knowledge on how to apply these in business problems
• Get access to course material for future reference

Course Content:

Section 1: Probability and Expectations

• Welcome Note
• Section Overview
• Relative Frequency and Probability with Excel Simulation
• Probability Example of Rolling One and Two Dice
• Probability Distribution Function: Discrete and Continuous
• Expectation or Expected Value
• Expected Value of a Carnival Game
• Expected Value of Casino Game
• Section PDF

Section 2: Central Tendencies and Dispersion

• Section Overview
• Arithmetic Mean
• Advantages and Disadvantages of Arithmetic Mean
• Geometric Mean and its Applicability
• Weighted Mean
• Median and its Calculations
• Advantages and Applicability of Median
• Mode- It’s Advantages and Usage
• Dispersion: Why you should Know
• Range: Its Advantages and Disadvantages
• Average Absolute Difference
• Variance and Standard Deviation
• Coefficient of Variance and Z Statistics
• Section PDF
• Note: Square Error Is Minimum Around Mean

Section 3: Central Limit Theorem

• Section Outline
• Frequency Distribution
• Normal Distribution and its properties
• Real Life Example of Normal Distribution
• Normal Distribution due to Aggregation
• CLT Concepts and Demo
• Validate Properties of Normal Distribution
• Section PDF

Section 4: Sampling Distribution

• Section Outline
• Terms Associated with Sampling Distribution
• Examples of Sample Statistics
• Sampling Distribution of Means
• Sampling Distribution of Proportion
• Point Estimate and Interval Estimate
• Intuitive Understanding and Demo of Confidence Interval
• Formal Definitions and Table for Confidence Interval
• Calculation Example of Confidence Interval for Sample Proportions
• Confidence Interval for Mean
• Demo of Confidence Interval for Mean
• Example of Confidence Interval Calculation
• Preamble for Small Sample Statistic
• Demo of T Distribution
• Confidence Interval Calculation Example for Small Sample
• Criteria of a Good Estimator
• Section PDF

Section 5: Hypothesis Testing

• Section Outline
• Business Example of Hypothesis Testing - Part 01
• Business Example of Hypothesis Testing - part 02
• Introduction to Terms of Hypothesis Testing
• Steps of Hypothesis Testing
• Type I and II and Power of a Test - Part 01
• Type I and II and Power of a Test - Part 02
• Real Life Example of Type I and II Error
• One and Two Tail Tests
• P Value for I and II Tail Cases and Excel Computation
• Hypothesis Testing Examples 01
• Hypothesis Testing Examples 02
• Using MS Excel for Hypothesis Tests
• Section PDF

Section 6: Simple Linear Regression

• Section Outline
• Linear Relationship By Example
• Ordinary Least Square for Equation
• Understand Excel Chart Add Trendline Function
• Coefficient of Determination
• Correlation Coefficient R
• Use of Linear Regression
• Linear Regression Using MS Excel Data Analysis Procedure
• Section PDF

Section 7: Categorical Data Analysis

• Section Overview
• Introduction to Categorical Variable
• Describe Categorical Data One Way
• Describe Categorical Data Two Way
• Chi Square Statistic
• Feel The Chi Square Statistic
• Degree of Freedom of a Cross Tab
• Chi Square Distribution
• Using Excel to Conduct Chi Square Test
• Dependent and Independent Variable
• Statistical Technique Applicability at a Glance

Section 8: Analysis of Variance (ANOVA)

• Section Overview
• Scenario for ANOVA
• Clarity on ANOVA design
• Assumptions of ANOVA
• ANOVA Method at a Glance
• Calculate Between Sample Variance
• Calculate Within Sample Variance
• Demo When Null Hypothesis Is True
• Intuitive Understanding When Samples are From Different Population
• F Statistics and F Distribution
• Conducting ANOVA using Excel
• Section PDF

Section 9: Non Parametric Tests

• Section Overview
• Scenario for Non-Parametric Test
• Monotony vs Linearity
• Advantage and Disadvantage of Non-Parametric Method
• Sign Test
• Mann Whitney U Test
• Kruskal Wallis H Test
• One Sample Run Test
• Spearman Rank Correlation
• Section PDF
• Closure Note