While you will be introduced to some of the science of what is being taught, the focus will be on applying the methodologies. This will be accomplished through the use of Excel and data sets from many different disciplines, allowing you to see the use of statistics in very diverse settings. The course will focus not only on explaining these concepts, but also understanding the meaning of the results obtained.
Upon successful completion of this course, you will be able to:
• Summarize large data sets in graphical, tabular, and numerical forms.
• Understand the significance of proper sampling and why you can rely on sample information.
• Understand why normal distribution can be used in so many settings.
• Use sample information to infer about the population with a certain level of confidence about the accuracy of the estimations.
• Use Excel for statistical analysis.
Exploring and Producing Data for Business Decision Making is course 5 of 7 in the Managerial Economics and Business Analysis Specialization.
In order to effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environment they operate in. In this Specialization, you will build a solid understanding of the operation of markets and the macro-economic environment with real-world examples. You will be able to identify firm and country-level economic factors that impact business decisions, develop an analytical framework using statistical tools, and apply economic theory and data in the analysis of business environment and trends to make effective business decisions. This Specialization is part of the University of Illinois iMBA Program. The capstone project involves an in-depth analysis of an actual business situation in which you will examine the global economic environment of a business. The final project will be a business plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates. Each course in this Specialization also fulfills a portion of the requirements for a University of Illinois course that can earn you college credit!