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Business Applications of Hypothesis Testing and Confidence Interval Estimation
  • Level Foundation
  • Duration 25 hours
  • Course by Rice University
  • Offered by

About

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

Modules

Meet the Professor

    • 1 Videos
    • 2 Readings
Show info about module content

1 Videos

  • Meet the Professor

2 Readings

  • Course FAQs
  • Pre-Course Survey

Lesson 1 - Introducing the t-distribution, the T.DIST Function

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Introducing the t-distribution, the T.DIST Function

1 Readings

  • Slides, Lesson 1

Lesson 2 - t-distribution Continued, the T.INV Function

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • t-distribution Continued, the T.INV Function

1 Readings

  • Slides, Lesson 2

Lesson 3 - Introducing Confidence Interval

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Introducing Confidence Interval

1 Readings

  • Slides, Lesson 3

Lesson 4 -Introducing Confidence Interval (Continued)

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Introducing Confidence Interval (Continued)

1 Readings

  • Slides, Lesson 4

Lesson 5 - The z-statistic and the t-statistic

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • The z-statistic and the t-statistic

1 Readings

  • Slides, Lesson 5

Lesson 6 - Using z- and t- statistics to Construct Confidence Interval

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Using z- and t- statistics to Construct Confidence Interval

1 Readings

  • Slides, Lesson 6

Week 1 Recap

    • 1 Videos
Show info about module content

1 Videos

  • Week 1 Recap

Confidence Interval - Introduction: Quiz

    • 1 Assignment
Show info about module content

1 Assignment

  • Confidence Interval - Introduction

Lesson 1 - Application of Confidence Interval

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Application of Confidence Interval

2 Readings

  • Home_Sizes.xlsx
  • Slides, Lesson 1

Lesson 2 - Confidence Interval for a Population Proportion

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Confidence Interval for a Population Proportion

1 Readings

  • Slides, Lesson 2

Lesson 3 - Sample Size Calculation

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Sample Size Calculation

1 Readings

  • Slides, Lesson 3

Lesson 4 - Sample Size Calculation (Continued)

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Sample Size Calculation (Continued)

1 Readings

  • Slides, Lesson 4

Lesson 5 - Hypothesis Testing, An Introduction

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Hypothesis Testing, An Introduction

1 Readings

  • Slides, Lesson 5

Week 2 Recap

    • 1 Videos
Show info about module content

1 Videos

  • Week 2 Recap

Confidence Interval - Applications: Quiz

    • 1 Assignment
Show info about module content

1 Assignment

  • Confidence Interval - Applications

Lesson 1 - The Logic of Hypothesis Testing

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • The Logic of Hypothesis Testing

1 Readings

  • Slides, Lesson 1

Lesson 2 - Conducting a Hypothesis Test, the Four Steps

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Conducting a Hypothesis Test, the Four Steps

1 Readings

  • Slides, Lesson 2

Lesson 3 - Single Tail and Two Tail Hypothesis Tests

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Single Tail and Two Tail Hypothesis Tests

1 Readings

  • Slides, Lesson 3

Lesson 4 - Guidelines, Formulas and an Application of Hypothesis Test

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Guidelines, Formulas and an Application of Hypothesis Test

2 Readings

  • Average Age.xlsx
  • Slides, Lesson 4

Lesson 5 - Hypothesis Test for a Population Proportion

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Hypothesis Test for a Population Proportion

1 Readings

  • Slides, Lesson 5

Lesson 6 - Type I and Type II Errors in a Hypothesis Test

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Type I and Type II Errors in a Hypothesis Test

1 Readings

  • Slides, Lesson 6

Week 3 Recap

    • 1 Videos
Show info about module content

1 Videos

  • Week 3 Recap

Hypothesis Testing: Quiz

    • 1 Assignment
Show info about module content

1 Assignment

  • Hypothesis Testing

Lesson 1 - Introducing the Difference-In-Means Hypothesis Test

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Introducing the Difference-In-Means Hypothesis Test

2 Readings

  • Athletes.xlsx
  • Slides, Lesson 1

Lesson 2 - Application of the Difference-In-Means Hypothesis Test

    • 1 Videos
    • 1 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Application of the Difference-In-Means Hypothesis Test

1 Readings

  • Slides, Lesson 2

Lesson 3 - Application (Continued) - Equal & Unequal Variance Assumption

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Application (Continued) - Equal & Unequal Variance Assumption

2 Readings

  • Athletes.xlsx
  • Slides, Lesson 3

Lesson 4 - The Paired t-Test for Means

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • The Paired t-Test for Means

2 Readings

  • Training.xlsx
  • Slides, Lesson 4

Lesson 5 - Some More Applications

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Some More Applications

2 Readings

  • Store Sales
  • Slides, Lesson 5

Lesson 6 - Some More Applications (Continued)

    • 1 Videos
    • 2 Readings
    • 1 Assignment
Show info about module content

1 Assignment

  • Practice Quiz

1 Videos

  • Some More Applications (Continued)

2 Readings

  • Age Data
  • Slides, Lesson 6

Week 4 Recap

    • 1 Videos
    • 1 Readings
Show info about module content

1 Videos

  • Week 4 Recap

1 Readings

  • End-of-Course Survey

Hypothesis Test - Differences in Mean: Quiz

    • 1 Assignment
Show info about module content

1 Assignment

  • Hypothesis Test - Differences in Mean

Auto Summary

Enhance your business decision-making skills with the "Business Applications of Hypothesis Testing and Confidence Interval Estimation" course, led by expert instructors on Coursera. Focused on Data Science & AI, this foundational course dives into confidence intervals and hypothesis testing, crucial for measuring risk and uncertainty in business. Over 4 weeks, you'll explore key concepts, Excel calculations, and practical applications. Ideal for professionals seeking to deepen their statistical knowledge, with flexible subscription options: Starter, Professional, and Paid. Excel 2010 or later required.

Sharad Borle
Instructor

Sharad Borle