- Course type: Self-paced
- Available Lessons: 120
- Average Lesson Length: 8 min
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Watch a preview:chapter 1 / lesson 1Application of Statistics in Business
Course SummaryAccess engaging video lessons to help you develop an understanding of statistical concepts and analytical practices with this Business 212: Business Statistics course. Improve your knowledge to prepare for business class exams or discussions, study for college entrance exams or enhance your work performance.
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About This Course
Explore introductory and more advanced concepts in business statistics with the use of this course. Learn about probability, sampling, statistical models and more. Better understand how statistics are applied in business settings and the use of formulas, methods and charts used in the field of statistics. Take self-assessment quizzes to determine how much you have retained from each lesson and use online forms to contact instructors with any lesson-specific questions. Easily schedule your study time with 24/7 accessibility from any device.
High school and college business students would benefit most from these lessons and could reference them to study for exams or research a project. Instructors, too, could draw useful information from this course that they could add to their existing business class curriculum. Finally, business professionals could refer to this material if they need to brush up on concepts they might need to know to complete job tasks.
|Introduction to Business Statistics||Describes the business applications of statistical formulas and concepts. Defines relevant terms such as bivariate data and random variables. Explains software used in statistical analysis.|
|Introduction to Categorical Data||Defines categorical data and details the use of bar charts and tables to summarize this type of data.|
|Descriptive Statistics: Measurement||Discusses how to calculate mean values, make estimations, find percentiles and measure dispersion and skewness. Provides information about formulas used to find quartiles, and deciles in a data set.|
|Descriptive Statistics: Representation||Explains how to create and explain the use of box plots, dot plots, scatterplots and histograms. Lists the characteristics of visual representations of a data set.|
|Measures of Dispersion in Business||Illustrates how to calculate variance and standard deviation. Shows techniques on how to use normal distributions.|
|Measures of Association & Correlation in Business||Describes how to differentiate correlation and causation, and details the role of a correlation coefficient.|
|Probability for Business Statistics||Relates how to use multiplication and addition to calculate probability and interpret Venn and tree diagrams. Explains how to use Bayes Theorem to revise probabilities, and compute the number of possible outcomes in a situation.|
|Probability Distributions for Business Statistics||Compares discrete and continuous data. Relates how to compute the expected value and variance of a probability distribution, and apply these concepts business problems.|
|Sampling Methods for Statistics||Differentiates between populations and samples. Defines random sampling. Defines and describes formulas used for stratified random, cluster random and systematic random samples.|
|Confidence Intervals||Details how to find confidence intervals, determine sample sizes for validity purposes and defines degrees of freedom.|
|Hypothesis Testing in Business||Lists steps in the hypothesis testing process. Identifies types of errors that impact statistics. Relates what type of information hypothesis testing reveals, and compares Z and T tests.|
|Analysis of Variance||Shows how Analysis of Variance (ANOVA) is used to compare two or more populations.|
|Nonparametric Methods in Statistics||Analyzes nonparametric methods and explains the use of chi-square tests and two-way tables.|
|Regression Analysis||Describes how to conduct a regression analysis. Explains the process of analyzing residuals. Discusses simple linear regression and how to solve problems using linear regression formulas.|
|Understanding Business Forecasting||Explains how to use statistical processes to make forecasts and support business decision making. Defines forecasting in business and indexes.|
|Using Control Charts in Business||Describes the use of control charts to identify patterns and details different types of control charts, such as those used for attributes and variables.|
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