: This course will introduce you to the importance of statistics in the business world. Statistics is the science of collecting, organizing, and analyzing data in order to make more effective decisions. Understanding statistical techniques can help any manager responsible for marketing, management, accounting, sales, or other business functions.
: This course has a "Mentor Expert" helpdesk feature. Learners have the ability to submit questions directly to an expert in the field you are studying.
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Lesson 1
After completing this course, you'll be able to:
Differentiate between descriptive and inferential statistics
Distinguish between the 4 different scales of measurement: nominal, ordinal, interval, and ratio
Identify the appropriate graphical or tabular method for presenting your data
Create frequency distributions
Create meaningful presentations and graphs including:
frequency polygons
bar graphs
pie charts
line graphs
histograms
Calculate probability and explain its practical application
Compute the mode, median, and mean of a dataset
Calculate the variance and standard deviation of a dataset
Interpret sampling with and without replacement
Explain the significance of the area under a curve
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