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

4.8
stars
1,298 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

AU

May 5, 2020

The statistical concepts and methods are very well explained in an easy to understand manner. Good examples are given to demonstrate application of the cocepts and methods in business environment.

MR

Aug 20, 2020

This course was very useful for me. We have learnt many interesting things of statistics like t statistic, t distribution, z statistics, confidence interval, sample proportion, hypothesis etc.

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176 - 200 of 222 Reviews for Business Applications of Hypothesis Testing and Confidence Interval Estimation

By Ernesto J P P

Jun 19, 2020

Excellent !!!

By Esther K

Aug 15, 2018

Great course!

By Sri D P

Jan 7, 2024

Very usefull

By Mas-ud A

Dec 7, 2020

Great course

By خالد م

Apr 5, 2020

Much Great!!

By Afonso A R

Dec 4, 2019

Very useful!

By Marc-Aurélien N

Aug 21, 2019

Just great !

By jittu s

Mar 26, 2019

great course

By 郭婉莹

Aug 22, 2017

Nice course!

By Linh P

Mar 7, 2017

Great course

By John H F

Sep 30, 2022

Excellent.

By Avinash S

May 7, 2021

Amazing!!!

By Gregory R G J

Nov 28, 2018

Thumbs Up!

By ANGADI T K

Sep 29, 2021

excellent

By SAVARAPU J P

Sep 27, 2021

Excellent

By 121913901057 g

Apr 27, 2021

thank you

By Antonello G

Jan 21, 2021

Excellent

By Olga

Jan 30, 2019

Great

By MACHANI S K

Aug 19, 2021

good

By Jonathan J

Dec 7, 2020

GOOD

By Atis R

Feb 22, 2019

Good

By Chandrasekaran R

Oct 15, 2017

d

By Riccardo M

Apr 17, 2020

Overall, this is a good introductory course. I think it is very good for people that are starting with Excel or statistics, and business analysis.

However, I removed one star considering my personal experience. At times I feel it slow, maybe I made the wrong decision, because I already have some background and I was looking to refresh it and have more practical knowledge. I don't find it very challenging, but will complete the specialization for the certificate and to see the remaining 2 courses in it.

By Faisal n K

Aug 20, 2020

overall good experience but quiz of week 2 was planned terribly many students faced problem because of rounding error and question suggested to use goalseek or solver but neither of them were taught in this course nor in other course of this specialization and please fix rounding error problems

By Aafiyah D

Apr 3, 2020

This course was very different from the other data analysis courses. it really shows one how to compare data points in the same sample/population.

very interesting and many thanks to the prof, he made it easy to understand! the examples here as there were alot really helped!! thank you!