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Business Applications of Hypothesis Testing and Confidence Interval Estimation

Business Statistics and Analysis,

Confidence intervals and Hypothesis tests are very important tools in the Business Statistics toolbox. A mastery over these topics will help enhance your business decision making and allow you to understand and measure the extent of ‘risk’ or ‘uncertainty’ in various business processes. This is the third course in the specialization "Business Statistics and Analysis" and the course advances your knowledge about Business Statistics by introducing you to Confidence Intervals and Hypothesis Testing. We first conceptually understand these tools and their business application. We then introduce various calculations to constructing confidence intervals and to conduct different kinds of Hypothesis Tests. These are done by easy to understand applications. To successfully complete course assignments, students must have access to a Windows version of Microsoft Excel 2010 or later. Please note that earlier versions of Microsoft Excel (2007 and earlier) will not be compatible to some Excel functions covered in this course. WEEK 1 Module 1: Confidence Interval - Introduction In this module you will get to conceptually understand what a confidence interval is and how is its constructed. We will introduce the various building blocks for the confidence interval such as the t-distribution, the t-statistic, the z-statistic and their various excel formulas. We will then use these building blocks to construct confidence intervals. Topics covered include: • Introducing the t-distribution, the T.DIST and T.INV excel functions • Conceptual understanding of a Confidence Interval • The z-statistic and the t-statistic • Constructing a Confidence Interval using z-statistic and t-statistic WEEK 2 Module 2: Confidence Interval - Applications This module presents various business applications of the confidence interval including an application where we use the confidence interval to calculate an appropriate sample size. We also introduce with an application, the confidence interval for a population proportion. Towards the close of module we start introducing the concept of Hypothesis Testing. Topics covered include: • Applications of Confidence Interval • Confidence Interval for a Population Proportion • Sample Size Calculation • Hypothesis Testing, An Introduction WEEK 3 Module 3: Hypothesis Testing This module introduces Hypothesis Testing. You get to understand the logic behind hypothesis tests. The four steps for conducting a hypothesis test are introduced and you get to apply them for hypothesis tests for a population mean as well as population proportion. You will understand the difference between single tail hypothesis tests and two tail hypothesis tests and also the Type I and Type II errors associated with hypothesis tests and ways to reduce such errors. Topics covered include: • The Logic of Hypothesis Testing • The Four Steps for conducting a Hypothesis Test • Single Tail and Two Tail Hypothesis Tests • Guidelines, Formulas and an Application of Hypothesis Test • Hypothesis Test for a Population Proportion • Type I and Type II Errors in a Hypothesis WEEK 4 Module 4: Hypothesis Test - Differences in Mean In this module, you'll apply Hypothesis Tests to test the difference between two different data, such hypothesis tests are called difference in means tests. We will introduce the three kinds of difference in means test and apply them to various business applications. We will also introduce the Excel dialog box to conduct such hypothesis tests. Topics covered include: • Introducing the Difference-In-Means Hypothesis Test • Applications of the Difference-In-Means Hypothesis Test • The Equal & Unequal Variance Assumption and the Paired t-test for difference in means. • Some more applications

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Rating 4.8 based on 88 ratings
Length 5 weeks
Effort 4 weeks of study
Starts Mar 29 (3 weeks ago)
Cost $79
From Rice University via Coursera
Instructor Sharad Borle
Download Videos On all desktop and mobile devices
Language English
Subjects Data Science Business
Tags Data Science Data Analysis Business Business Essentials

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What people are saying

hypothesis testing

I can't wait to apply it at workl Good intro to hypothesis testing using excel for business problems.

A very insightful and detailed course on Hypothesis Testing The quizzes for this course are very well-done, quite challenging and certainly very satisfying to get through.

Excellent and educational course for everyone interested in statistical hypothesis testing.

In depth course regarding hypothesis testing.

a must do for anyone looking to understand the basic of hypothesis testing Hypothesis testing is actually the most complex thing to grasp (of course after regression modeling).

The excel examples were very helpful great course to learn statistics and advacend excel perfect course to learn hypothesis testing Anyone who want to understand the topic of confidence interval & Hypothesis Testing this COURSE IS MUST.

I have had a great experience learning the Hypothesis Testing secrets in Excel.

Probably the best course on confidence intervals and hypothesis testing.

However, in the hypothesis testing modules, the presenter conflates "being unable to reject a hypothesis" to "accept a hypothesis".

A good investment Loved the course; great materials, great pace, great practice Concise practical approach to business hypothesis testing in excel.

I really admire the way the professor for this course teaches the fundamentals of Hypothesis testing and its use in practice with various useful examples in business applications!

thanks to well organized presentations done by the teacher Fantastic course and teacher too easy compared to part 1 &2 Excellent course, it helped me a lot to understand hypothesis testing using excel.

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easy to follow

Lectures are easy to follow - but take notes!

Good lectures that are easy to follow.

Very nice and easy to follow course.

Easy to follow along.

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Rating 4.8 based on 88 ratings
Length 5 weeks
Effort 4 weeks of study
Starts Mar 29 (3 weeks ago)
Cost $79
From Rice University via Coursera
Instructor Sharad Borle
Download Videos On all desktop and mobile devices
Language English
Subjects Data Science Business
Tags Data Science Data Analysis Business Business Essentials

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