Introduction to Business Statistics


Course Number: STAT-102

Duration: 2 days (13 hours)

Format: Live, hands-on

Statistics Training Overview

Accelebrate's Introduction to Business Statistics training course teaches participants how to calculate appropriate statistical measures, apply statistical procedures, and recognize key data pitfalls to effectively communicate analytical conclusions to stakeholders.

Location and Pricing

Accelebrate offers instructor-led enterprise training for groups of 3 or more online or at your site. Most Accelebrate classes can be flexibly scheduled for your group, including delivery in half-day segments across a week or set of weeks. To receive a customized proposal and price quote for private corporate training on-site or online, please contact us.

Objectives

  • Choose appropriate measures to use in a given situation and calculate using Excel
  • Consider data gathering methods, bias, and error
  • Interpret the results and conclusions of statistical analysis
  • Recognize key pitfalls be aware of and avoid
  • Visualize and communicate the results in a fair, objective, and unbiased manner

Prerequisites

All students should have prior experience working with data visualization and corporate reporting.

Outline

Expand All | Collapse All

Introduction
Overview of using data analysis and statistics for effective decision-making
Installing the Data Analysis Tool Pack add-in for Excel
Exploring and visualizing data
  • Types of variables
  • Choosing chart types
  • Formatting best practices
Descriptive statistics
  • Real-world uses for specific measures and how to visualize
    • Samples vs. populations
    • Measures of Central Tendency
    • Measures of variation and position
    • Looking at the shape of the data and the impact of outliers
    • Cautions and common pitfalls (e.g. Anscombe’s Quartet)
  • Dealing with bad data and ensuring it’s reliable for good decisions
Probability
  • Overview
  • Applications
  • Cautions and fallacies
Inference for a Population
  • Sampling
    • Methods
    • Bias
    • Error
  • Sampling distribution for the mean
  • Central Limit Theorem
  • Confidence Intervals
Regression
  • Correlation
  • Linear Regression
    • When to use it
    • How to interpret output meaningfully
Conclusion

Training Materials:

Students have access to Microsoft Excel and are familiar with writing calculations and formulas within Excel.

Software Requirements:

  • Microsoft Excel 2010 or later (2013 or later recommended) with the latest update installed
  • Internet access
  • Related data and lab files that Accelebrate would provide


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