Introduction to Statistics
• Introduction to Business Statistics
• Different Types of date for Business Statistics
• Basic Statistical Concepts
R Fundamentals for Analyzing and Interpret Row Data
- Install R and R Studio and engage in a basic R session
- Be able to read in data and write out data files from various sources
- Create and execute their own user-defined functions in an R session
- Understand the characteristics of different data types and structures in R
- Sort, select, filter, subset, and manipulate tables of data in R
- Understand how to use the apply() family of functions to execute various actions against different R data structures
- Know how to use reshaping and recoding "short cuts" for changing data types and for rearranging data structures
- Basic visualization and share reports in R
Applying Descriptive and Diagnostic Statistics in Real Business
Visualizing and Exploring Data (EDA)
• Defining and collecting data
• Organizing and visualizing variables
• Chart absolute frequency, relative frequency, cumulative absolute frequency and cumulative relative frequency histograms.
• Categorical and numerical variables measurement levels
• Tables and charts, cross tables, pie charts, pareto diagrams
• Histograms and ogives, shape of a distribution, stem-and-leaf displays, scatter plots
Descriptive Statistical Measures for Business
• Measures of Location, Arithmetic Mean, Median, Mode, Midrange
• Using Measures of Location in Business Decisions
• Measures of Dispersion, Range, Interquartile Range, Variance,
• Standard Deviation, Chebyshev’s Theorem and the Empirical Rules
• Standardized Values, Coefficient of Variation
• Measures of Shape
Probability Distributions
• Probability Rules and Formulas
• Joint and Marginal Probability
• Conditional Probability
• Random Variables and Probability Distributions
• Discrete Probability Distributions
• Expected Value of a Discrete Random Variable
• Using Expected Value in Making Decisions
• Variance of a Discrete Random Variable
• Bernoulli, Binomial, and Poisson Distribution
• Continuous Probability Distributions
• Properties of Probability Density Functions
• Uniform Distribution
• Normal Distribution
• Standard Normal Distribution
• Using Standard Normal Distribution Tables
• Exponential Distribution
• Continuous Distribution
• Other Useful Distributions
Sampling and Estimation for Decision Making
• Statistical Sampling
• Sampling Methods
• Estimating Population Parameters
• Unbiased Estimators
• Errors in Point Estimation
• Sampling Error
• Understanding Sampling Error
• Sampling Distributions
• Sampling Distribution of the Mean
• Applying the Sampling Distribution of the Mean
• Interval Estimates
• Confidence Intervals
• Confidence Interval for the Mean with Known Population Standard Deviation
• The t-Distribution
• Confidence Interval for the
• Mean with Unknown Population Standard Deviation
• Confidence Interval for a Proportion
• Additional Types of Confidence Intervals
• Using Confidence Intervals for Decision Making
• Prediction Intervals
• Confidence Intervals and Sample Size
Statistical Inference for Data Mining
• Hypothesis Testing, Hypothesis-Testing Procedure
• One-Sample Hypothesis Tests
• Understanding Potential Errors in Hypothesis Testing
• Selecting the Test Statistic
• Two-Tailed Test of Hypothesis for the Mean, p-Values
• One-Sample Tests for Proportions
• Confidence Intervals and Hypothesis Tests
• Two-Sample Hypothesis Tests
• Two-Sample Tests for Differences in Means
• Two-Sample Test for Means with Paired Samples
• Test for Equality of Variances
• Analysis of Variance (ANOVA)
• Assumptions of ANOVA
• Chi-Square Test for Independence
• Cautions in Using the Chi-Square Test
Statistical Decision Making under Uncertainty for Business with real cases
Trendlines and Regression Analysis with Data
• Modeling Relationships and Trends in Data
• Simple Linear Regression
• Finding the Best-Fitting Regression Line
• Least-Squares Regression
• Simple Linear Regression with Excel
• Regression as Analysis of Variance
• Testing Hypotheses for Regression Coefficients
• Confidence Intervals for Regression Coefficients
• Residual Analysis and Regression Assumptions
• Checking Assumptions
• Multiple Linear Regression
• Building Good Regression Models
• Correlation and Multicollinearity
• Practical Issues in Trendline and Regression Modeling
• Regression with Categorical Independent Variables
• Categorical Variables with More Than Two Levels
• Capstone project with real business cases
Forecasting Techniques for Business
• Statistical Forecasting Models
• Forecasting Models for Stationary Time Series
• Moving Average Models
• Error Metrics and Forecast Accuracy
• Exponential Smoothing Models
• Forecasting Models for Time Series with a Linear Trend
• Double Exponential Smoothing
• Regression-Based Forecasting for Time Series with a Linear Trend
• Forecasting Time Series with Seasonality
• Regression-Based Seasonal Forecasting Models
• Selecting Appropriate Time-Series-Based Forecasting Models
• Regression Forecasting with Causal Variables
• Capstone project with real business cases
Monte Carlo Simulation and Risk Analysis Process
• Defining Uncertain Model Inputs Defining Output Cells
• Running a Simulation, Viewing and Analyzing Results
• New-Product Development Model
• Confidence Interval for the Mean
• The Flaw of Averages
• Monte Carlo Simulation Using Historical Data
• Monte Carlo Simulation Using a Fitted Distribution
• Capstone project with real business cases
Statistical Decision Analysis for Driving Consumer Experience.
• Bank Customers based on real time interactions and streaming analytics with real business cases
Statistical Clustering Analysis for Customer Behavioral Segmentation
• Bank Customers based on behavioral actions with real business cases