Business Applications of Hypothesis Testing and Confidence Interval Estimation

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Business Applications of Hypothesis Testing and Confidence Interval Estimation

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About this 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 differ…

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When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this 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

Created by:  Rice University
  • Taught by:  Sharad Borle, Associate Professor of Management

    Jones Graduate School of Business
Basic Info Course 3 of 5 in the Business Statistics and Analysis Specialization Commitment 4 weeks of study Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.7 stars Average User Rating 4.7See what learners said 课程作业

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Rice University Rice University is consistently ranked among the top 20 universities in the U.S. and the top 100 in the world. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy.

Syllabus


WEEK 1


Confidence Interval - Introduction



8 videos, 8 readings, 6 practice quizzes expand


  1. Video: Meet the Professor
  2. 阅读: Course FAQs
  3. 阅读: Pre-Course Survey
  4. Video: Introducing the t-distribution, the T.DIST Function
  5. 阅读: Slides, Lesson 1
  6. 练习测验: Practice Quiz
  7. Video: t-distribution Continued, the T.INV Function
  8. 阅读: Slides, Lesson 2
  9. 练习测验: Practice Quiz
  10. Video: Introducing Confidence Interval
  11. 阅读: Slides, Lesson 3
  12. 练习测验: Practice Quiz
  13. Video: Introducing Confidence Interval (Continued)
  14. 阅读: Slides, Lesson 4
  15. 练习测验: Practice Quiz
  16. Video: The z-statistic and the t-statistic
  17. 阅读: Slides, Lesson 5
  18. 练习测验: Practice Quiz
  19. Video: Using z- and t- statistics to Construct Confidence Interval
  20. 阅读: Slides, Lesson 6
  21. 练习测验: Practice Quiz
  22. Video: Week 1 Recap

Graded: Confidence Interval - Introduction

WEEK 2


Confidence Interval - Applications



6 videos, 6 readings, 5 practice quizzes expand


  1. Video: Application of Confidence Interval
  2. 阅读: Home_Sizes.xlsx
  3. 阅读: Slides, Lesson 1
  4. 练习测验: Practice Quiz
  5. Video: Confidence Interval for a Population Proportion
  6. 阅读: Slides, Lesson 2
  7. 练习测验: Practice Quiz
  8. Video: Sample Size Calculation
  9. 阅读: Slides, Lesson 3
  10. 练习测验: Practice Quiz
  11. Video: Sample Size Calculation (Continued)
  12. 阅读: Slides, Lesson 4
  13. 练习测验: Practice Quiz
  14. Video: Hypothesis Testing, An Introduction
  15. 阅读: Slides, Lesson 5
  16. 练习测验: Practice Quiz
  17. Video: Week 2 Recap

Graded: Confidence Interval - Applications

WEEK 3


Hypothesis Testing



7 videos, 7 readings, 6 practice quizzes expand


  1. Video: The Logic of Hypothesis Testing
  2. 阅读: Slides, Lesson 1
  3. 练习测验: Practice Quiz
  4. Video: Conducting a Hypothesis Test, the Four Steps
  5. 阅读: Slides, Lesson 2
  6. 练习测验: Practice Quiz
  7. Video: Single Tail and Two Tail Hypothesis Tests
  8. 阅读: Slides, Lesson 3
  9. 练习测验: Practice Quiz
  10. Video: Guidelines, Formulas and an Application of Hypothesis Test
  11. 阅读: Average Age.xlsx
  12. 阅读: Slides, Lesson 4
  13. 练习测验: Practice Quiz
  14. Video: Hypothesis Test for a Population Proportion
  15. 阅读: Slides, Lesson 5
  16. 练习测验: Practice Quiz
  17. Video: Type I and Type II Errors in a Hypothesis Test
  18. 阅读: Slides, Lesson 6
  19. 练习测验: Practice Quiz
  20. Video: Week 3 Recap

Graded: Hypothesis Testing

WEEK 4


Hypothesis Test - Differences in Mean



7 videos, 12 readings, 6 practice quizzes expand


  1. Video: Introducing the Difference-In-Means Hypothesis Test
  2. 阅读: Athletes.xlsx
  3. 阅读: Slides, Lesson 1
  4. 练习测验: Practice Quiz
  5. Video: Application of the Difference-In-Means Hypothesis Test
  6. 阅读: Slides, Lesson 2
  7. 练习测验: Practice Quiz
  8. Video: Application (Continued) - Equal & Unequal Variance Assumption
  9. 阅读: Athletes.xlsx
  10. 阅读: Slides, Lesson 3
  11. 练习测验: Practice Quiz
  12. Video: The Paired t-Test for Means
  13. 阅读: Training.xlsx
  14. 阅读: Slides, Lesson 4
  15. 练习测验: Practice Quiz
  16. Video: Some Applications
  17. 阅读: Store Sales
  18. 阅读: Slides, Lesson 5
  19. 练习测验: Practice Quiz
  20. Video: Some Applications (Continued)
  21. 阅读: Age Data
  22. 阅读: Slides, Lesson 6
  23. 练习测验: Practice Quiz
  24. Video: Week 4 Recap
  25. 阅读: End-of-Course Survey

Graded: Hypothesis Test - Differences in Mean
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