About this Course

This course provides the basic ideas of business statistics systematically and correctly. It introduces techniques for summarising, presenting data, estimation, confidence intervals and hypothesis testing.

The course also focuses on understanding of key concepts and statistical thinking for decision making. Statistical concepts and statistical thinking enable Business Managers and Executives to solve problems in a diversity of contexts, add substance to decisions and reduce guesswork.

Objectives

Upon completion of this workshop, participants will be able to;

• Understand and apply the statistical decision making process
  
• Use appropriate methods in statistical sampling
  
• Use probability as a measuring tool for statistical inference
  
• Conduct hypothesis testing for means and proportion
  
• Analyse the relationship among different types of data using Chi-square testing and regression analysis
  
• Analyse data through performing statistical functions in the Microsoft Excel Application
  

Target Audience

Business Managers and Executives

Duration

Two days

Curriculum

Statistical Decision Making Process

• What is Business Statistics?
  
• Common Statistical Terminology
  

Statistical Sampling

• Sampling Methods
  
• Statistical Summaries
  

Probability as a Measuring Tool for Statistical Inference

• Probability Rules
  
• Combinatorial Math
  

Hypothesis Testing: Rejecting a Claim

• Classical Approach to Testing Hypotheses
  
• The Meaning and Interpretation of P-Values
  

Hypothesis Testing for Means and Proportions

• Single Population T-Test
  
• Two Independent Populations T-Tests
  

Applications of Chi-Square Statistic

• Chi-Square Test for Cross-Table Data
  
• Chi-Square Test for a Change in Proportions
  

Regression Analysis

• Simple Linear Regression
  
• Correlation
  

Microsoft Excel Application

• Application of Statistical Functions
  

Methodologies

PowerPoint Presentation, Case Study Discussions and Microsoft Excel Application Session.

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