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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

MR

Jan 5, 2021

Wonderful insight into the excel applications of statistics and increased my confidence. Looking forward to attending all the courses.

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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126 - 150 of 227 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Ksenia S

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Dec 26, 2020

Great course with good explanation and examples.

By Roxanna J Z P

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Feb 11, 2021

Great course! Great explanations of the topics.

By Dr. G S

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Dec 15, 2020

The instructor gets his points home!!! Thanks

By Soham B

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May 6, 2020

Wonderful lucid experience. Great instructor.

By RAMADASU V K

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Dec 24, 2020

This is very use full for business decisions

By Aline C

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Nov 24, 2018

Well designed and usefull. A good investment

By Qianxian W

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Aug 19, 2017

Very clear teaching and rewarding exercises.

By Eric

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Feb 11, 2017

Very detailed instructions. I learned a lot!

By Vincent R

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Apr 14, 2021

Clear introduction to the topic. Well done!

By Pratyush A

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Aug 6, 2020

Good course. Nicely explained new concepts.

By Nazmus S S

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Jan 7, 2019

Professor is very good. I love this course.

By Eddy K

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Nov 24, 2020

THE COURSE IS GREAT AND THE LECTURER GOOD,

By Abeythunga, S

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Aug 27, 2020

very educational and improved my knowladge

By Songly H

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Oct 29, 2017

Great course, short, concise to the point!

By Prakhar S

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Jun 5, 2017

perfect course to learn hypothesis testing

By Deleted A

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Jul 9, 2019

The sound in the videos should be lauder.

By PRITAM P

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Mar 2, 2021

many things I got to know by this course

By Soheil R

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Nov 13, 2023

very very good with awesome instructor.

By Ernie R

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Mar 3, 2019

Great instructor! Easy to follow along.

By Isabel

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Jun 23, 2017

Very good structure with many examples

By Juan C D M

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Mar 15, 2020

Great course, very clear and usefull

By Mrinal

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Jul 22, 2020

Excellent material and explanation

By Elizabeth N M

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Oct 12, 2021

Loved every aspect of this course

By Apurva G

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May 2, 2020

The course was really insightful.

By Krishanvendra S

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Dec 26, 2023

Examples and topics are use full