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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

PK

Aug 18, 2020

Very clear explanation with short context by the lecturer and provide a very useful and usable for my professional career. Thank you so much for created this good courses and specialization.

VJ

Jul 30, 2020

Amazing course and it covers everything about hypothesis testing that one needs to know and it has been explained without going too deep in the concept.

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151 - 175 of 227 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Terry U

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Sep 27, 2018

Statistics simplified.

Awesome!!!

By Vipul R G

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Jul 8, 2020

Great learning, Thank you Prof.

By 黎傲轩

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Jun 27, 2020

Very useful tools for bussiness

By Timothy O M

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Feb 14, 2021

I highly recommend this course

By Anand R

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Jul 17, 2020

The course is well organized.

By 原野

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Dec 28, 2018

it is really helpful class!!!

By Yixuan W

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Aug 23, 2017

i like it, easy to understand

By Rishitesh P

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Aug 20, 2020

very nice course for Analyst

By Ponciano R

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May 31, 2018

Fantastic course and teacher

By G. J J W

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Jun 1, 2020

Amazing Journey of Learning

By Akhil G

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Jan 16, 2020

Excellent course good pace

By Hénock M

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Jul 17, 2018

very interesting course...

By Elsayed k

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Jan 4, 2020

great knowledge included

By Anish G

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Jul 6, 2021

great for interview prep

By Laxminarayan M

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Dec 19, 2023

Excellent Course Design

By Victoria P

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Apr 24, 2019

Favorite course so far

By Ayesh D

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Mar 2, 2021

Recommend this course

By Krunal B

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Sep 29, 2020

Very well explained.

By Victoria A

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Feb 18, 2018

very knowledgeable.

By Víctor D B A

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Nov 27, 2020

Excellent Course

By Deep S

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Sep 6, 2020

Sharad sir rocks

By shaorong Z

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Dec 17, 2017

WonderfulCourse!

By Vitaly C

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Jun 17, 2020

Awesome course!

By Bappy K D

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May 9, 2020

Amazing course!