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

4.8
stars
1,330 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

SK

Nov 26, 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 !

BK

Oct 3, 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.

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76 - 100 of 227 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Rengarajan S

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Apr 8, 2019

Very useful.. learnt a whole lot of new statistical tools and techniques. Highly recommended..

By Umasankar D

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Apr 29, 2020

presentation skills are very very excellent,

Giving the Live examples for better understanding

By Sumit J

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Feb 3, 2020

Learning was great. Concepts were explained in a lucid manner. Easy to understand. Thank you.

By Wellington S

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Sep 14, 2017

In depth course regarding hypothesis testing. Even better than the course I had in my degree.

By Md. M I

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Nov 23, 2020

The instructor is really awesome. He makes every point clear and makes it easy to understand

By Dhiraj J

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Jun 25, 2020

The course has really proved very helpful in understanding and clarifying various concepts .

By Kelly R

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Sep 28, 2019

Course was very informative and the concepts were presented in an easy to understand format.

By Hamilton C

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Oct 17, 2017

Great course! Very practical application of statistics on excel. The professor is excellent.

By Swapnil P

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Apr 7, 2020

It was a challenging course. The lessons explained were thorough. It was a great experience

By Matija H

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Oct 20, 2017

Excellent and educational course for everyone interested in statistical hypothesis testing.

By Andrew A

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Sep 5, 2019

Absolutely excellent learning format with a professor that clearly presents the material.

By jorge l

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Jun 12, 2018

good class, clear and concise. thanks to well organized presentations done by the teacher

By Donnette D

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Apr 6, 2021

Excellent lectures. Quizzes helped to reinforce training. Wide applicability to business

By Andriy K

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Apr 29, 2018

Very good course with a lot of applied examples and step by step detailed explanation.

By Victorino M

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Feb 6, 2020

Excellent course, it helped me a lot to understand hypothesis testing using excel. !

By Dusi S K

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Oct 21, 2021

Vivid and clear explanations by Sir. Thank you for designing such a great course.

By PRERIT M

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Jun 22, 2020

Highly qualitative course with real statistical skills. Kudos to the instructor.

By Dr. U S

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Apr 4, 2020

I have better understanding of excel and research interface and research too.

By GOPESHWAR N

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Jun 17, 2020

Awesome course,with awesome exercises.Learnt a lot about hypothesis testing!

By Mark H

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Apr 23, 2018

Good summary of how to test hypothesis. I look forward to putting this work.

By shwetamehna

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Jun 22, 2019

If you want to learn the basics of hypothesis, then this course is for you.

By Sanjyot T

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Sep 13, 2020

It is nice to recall the studed data analysis and linking it more clearly.

By Adeyinka O

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Jun 27, 2020

This course is so practical and well presented by the instructor, good job

By Mohammed T C

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May 16, 2020

Excellent Course with 100% practical based learning. Learned a lot. Thanks

By Emil R

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Dec 26, 2018

Great course. Excellent Instructor. Absolutely worth the time and effort.