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Learner Reviews & Feedback for Business Applications of Hypothesis Testing and Confidence Interval Estimation by Rice University

4.8
stars
1,298 ratings

About the Course

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...

Top reviews

AU

May 5, 2020

The statistical concepts and methods are very well explained in an easy to understand manner. Good examples are given to demonstrate application of the cocepts and methods in business environment.

MR

Aug 20, 2020

This course was very useful for me. We have learnt many interesting things of statistics like t statistic, t distribution, z statistics, confidence interval, sample proportion, hypothesis etc.

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26 - 50 of 222 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Himanshu B

Jun 12, 2020

It was a great learning experience, the way Mr. Sharad teaches the concepts with a pause and balance to ensure we get enough knowledge for Business application of statistics without Mathematical complications is really awesome.

By Leonel G

Apr 26, 2020

The complete specialization is superb. This course takes the use of statistics in business to real scenarios, and the knowledge can surely be applied right away. Excellent, very grateful it has been distributed on Coursera.

By Davinder S

Jul 1, 2017

Hypothesis testing is actually the most complex thing to grasp (of course after regression modeling). This course has been taught wonderfully and it will be a great help for managers out there in the field of analytics!

By Jitka S

Mar 6, 2020

I am very happy I took this course. Professor Borle explains the topic very clearly with lot of examples. I can recommend the course (and the all specialization). It makes statistic understandable for beginners.

By Michael I

Jun 27, 2020

The material was well presented and made easy to understand, the instructor patiently presents the details. I am reading another business course and already finds the material very useful. Highly recommended

By Brian B

May 7, 2020

Great Class. The lectures are clear and well done. The quizzes and tests are relevant, fun and I'm enjoying the challenge. The courses have been a welcomed activity during the Coronavirus crisis..thanks.

By Asmat u

May 6, 2020

The statistical concepts and methods are very well explained in an easy to understand manner. Good examples are given to demonstrate application of the cocepts and methods in business environment.

By Patara K

Aug 19, 2020

Very clear explanation with short context by the lecturer and provide a very useful and usable for my professional career. Thank you so much for created this good courses and specialization.

By Stacy K

Nov 27, 2020

I am very thankful for taking this course. Thank you for the Dr. teaching this Course. I have learnt a lot new things that I didn't know how to do in Excel, I loved hypothesis Testing !

By Carlos J B A

Jun 9, 2019

A rewarding experience because I have been able to learn very valuable information. It is an excellent course. It has helped me in the personal and professional field. Thank you.

By Anubha J

May 31, 2022

It is an excellent course for learning statistical analysis through excel. It explains the concept of confidence interval and hypothesis testing in a simple and easy manner.

By Daniela M

Jun 10, 2020

Very useful course, before taking it I had troubles understanding some things about the t tests and with a lot of problems to formulate hypothesis. Now it is crystal clear.

By Shady N

Nov 26, 2018

I am from Applied Statistics background, and I used to do these tests by hands. I really have enjoyed doing them on Excel as well. Thanks for this amazing course! :)

By Saurav K

May 20, 2020

IT's amazing everyone can do as it covers all the basics from scratch so i will recommend to all who wants to get a carrier in business statistics and analysis.

By Ameya A K

Jul 22, 2020

Sharad Sir Rocks!!!

Cleared concepts about confidence interval pending from last so many years and now 99% confident to teach this topic !

Lucid Explanation!

By Ann O

Nov 20, 2021

i really enjoyed learning this topic. some areas might have been a bit challenging but the teacher did an excellent job at explaining everything in detail.

By Theophilus A

Aug 31, 2020

Great knowledge received from Prof Borle. I am truly grateful for the easy and elaborate explanations to make the course really understandable. Thank you.

By Vipul J

Jul 31, 2020

Amazing course and it covers everything about hypothesis testing that one needs to know and it has been explained without going too deep in the concept.

By Bonnie A K

Oct 4, 2021

I felt this course was organized well and easy to follow with helpful examples and exercises. The instructor paces well and provides good explanations.

By DEEPTI C

Jan 12, 2019

Course is very well organized and the concepts are explained in a very simple and effective way.

The weekly exercises provide a good hands on practice.

By Saiful R

Sep 29, 2020

Saya belajar banyak tentang Hypothesis Testing dan penerapnnya dalam bisnis, materi dan praktik dengan excel disampaikan dengan baik dan terstruktur.

By Bhavin C

Nov 19, 2019

Great job in simplifying the explanation of paired t-tests. I had studied it before but did not fully understand it till after taking this course.

By ARVIND S

Mar 15, 2019

Probably the best course on confidence intervals and hypothesis testing. A must for all engineering and management students and managers.

By Mohammad R

Jan 6, 2021

Wonderful insight into the excel applications of statistics and increased my confidence. Looking forward to attending all the courses.

By Sidhyant K U

May 25, 2020

This course is Well designed to know about hypothesis testing and its application in real life. But you need to have prior knowledge.