BUS-STATS.AE1
Business Statistics for Beginners
Learn business statistical techniques with easy to understand explanations, practical projects, and real-world case studies.
- Practice in 55 Hands-On Labs — nothing to install
- 20 Interactive Lessons and 79 topics mapped to the official exam objectives
Beginner Self-paced · 1 year access
55 Hands-On LiveLabs
Practice real IT tasks in guided environments.
- Real environments
- Auto-graded
- No installation
20Interactive Lessons
79Topics
55LiveLab
100Flashcards
100Glossary of terms
01 / Skills you'll get
What you will be able to do
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No credit card required
Learn how to understand, analyze, and interpret data with our Business Statistics course for beginners. You’ll start with the fundamentals of Business Statistics and gradually proceed to advanced topics like regression analysis, time series analysis, and more. Additionally, take advantage of the Lab activities designed to sharpen your analytical skills and reinforce your understanding. As you gradually proceed with our Business Statistics online course, you’ll learn how to streamline datasets, draw meaningful insights, and make informed decisions.
- Ability to understand, interpret, and analyze different data types
- Use data sets to identify patterns, trends, and anomalies
- Awareness of probability theory, distribution and application
- Perform hypothesis testing, interval estimation, and interpret the test results
- Build simple and multiple linear regression models
- Expert at regression analysis for prediction and forecasting
- Identify time series components: trend, seasonality, cycle, noise
- Skilled at forecasting techniques like ARIMA
- Perform data analysis by using statistical software like Excel, SPSS, R, Python
- Sharpen problem-solving & critical thinking skills for making data-driven decisions
Course Highlights
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20 Structured Lessons Comprehensive coverage of core course objectives
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55 Hands-On LiveLabs Interactive guided scenarios with instant evaluation
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1 Year Full Access Self-paced learning accessible anytime on all devices
02 / Lessons & labs
See exactly what you will learn and practice
Lessons
20 Interactive Lessons · 79 topics01 Introduction 4 topics +
- About This Course
- Foolish Assumptions
- Icons Used in This Course
- Where to Go from Here
02 The Art and Science of Business Statistics 4 topics · 6 LiveLab +
- Representing the Key Properties of Data
- Probability: The Foundation of All Statistical Analysis
- Using Sampling Techniques and Sampling Distributions
- Statistical Inference: Drawing Conclusions from Data
6 LiveLab in this lesson — see the labs panel →
03 Pictures Tell the Story: Graphical Representations of Data 3 topics · 7 LiveLab +
- Analyzing the Distribution of Data by Class or Category
- Histograms: Getting a Picture of Frequency Distributions
- Checking Out Other Useful Graphs
7 LiveLab in this lesson — see the labs panel →
04 Finding a Happy Medium: Identifying the Center of a Data Set 4 topics · 7 LiveLab +
- Looking at Methods for Finding the Mean
- Getting to the Middle of Things: The Median of a Data Set
- Comparing the Mean and Median
- Discovering the Mode: The Most Frequently Repeated Element
7 LiveLab in this lesson — see the labs panel →
05 Searching High and Low: Measuring Variation in a Data Set 3 topics · 3 LiveLab +
- Determining Variance and Standard Deviation
- Finding the Relative Position of Data
- Measuring Relative Variation
3 LiveLab in this lesson — see the labs panel →
06 Measuring How Data Sets Are Related to Each Other 2 topics · 1 LiveLab +
- Understanding Covariance and Correlation
- Interpreting the Correlation Coefficient
1 LiveLab in this lesson — see the labs panel →
07 Probability Theory: Measuring the Likelihood of Events 4 topics · 6 LiveLab +
- Working with Sets
- Betting on Uncertain Outcomes
- Looking at Types of Probabilities
- Following the Rules: Computing Probabilities
6 LiveLab in this lesson — see the labs panel →
08 Probability Distributions and Random Variables 3 topics · 3 LiveLab +
- Defining the Role of the Random Variable
- Assigning Probabilities to a Random Variable
- Characterizing a Probability Distribution with Moments
3 LiveLab in this lesson — see the labs panel →
09 The Binomial, Geometric, and Poisson Distributions 3 topics · 4 LiveLab +
- Looking at Two Possibilities with the Binomial Distribution
- Determining the Probability of the Outcome That Occurs First: Geometric Distribution
- Keeping the Time: The Poisson Distribution
4 LiveLab in this lesson — see the labs panel →
10 The Uniform and Normal Distributions: So Many Possibilities! 3 topics · 4 LiveLab +
- Comparing Discrete and Continuous Distributions
- Working with the Uniform Distribution
- Understanding the Normal Distribution
4 LiveLab in this lesson — see the labs panel →
11 Sampling Techniques and Distributions 3 topics · 3 LiveLab +
- Sampling Techniques: Choosing Data from a Population
- Sampling Distributions
- The Central Limit Theorem
3 LiveLab in this lesson — see the labs panel →
12 Confidence Intervals and the Student’s t-Distribution 1 topics · 2 LiveLab +
- Almost Normal: The Student’s t-Distribution
2 LiveLab in this lesson — see the labs panel →
13 Testing Hypotheses about the Population Mean 1 topics · 3 LiveLab +
- Applying the Key Steps in Hypothesis Testing for a Single Population Mean
3 LiveLab in this lesson — see the labs panel →
14 Testing Hypotheses about Multiple Population Means 2 topics · 1 LiveLab +
- Getting to Know the F-Distribution
- Using ANOVA to Test Hypotheses
1 LiveLab in this lesson — see the labs panel →
15 Testing Hypotheses about the Population Mean 4 topics · 1 LiveLab +
- Staying Positive with the Chi-Square Distribution
- Testing Hypotheses about the Population Variance
- Practicing the Goodness of Fit Tests
- Testing Hypotheses about the Equality of Two Population Variances
1 LiveLab in this lesson — see the labs panel →
16 Simple Regression Analysis 6 topics · 3 LiveLab +
- The Fundamental Assumption: Variables Have a Linear Relationship
- Defining the Population Regression Equation
- Estimating the Population Regression Equation
- Testing the Estimated Regression Equation
- Using Statistical Software
- Assumptions of Simple Linear Regression
3 LiveLab in this lesson — see the labs panel →
17 Multiple Regression Analysis: Two or More Independent Variables 3 topics · 1 LiveLab +
- The Fundamental Assumption: Variables Have a Linear Relationship
- Estimating a Multiple Regression Equation
- Checking for Multicollinearity
1 LiveLab in this lesson — see the labs panel →
18 Forecasting Techniques: Looking into the Future 6 topics · 1 LiveLab +
- Defining a Time Series
- Modeling a Time Series with Regression Analysis
- Forecasting a Time Series
- Changing with the Seasons: Seasonal Variation
- Implementing Smoothing Techniques
- Comparing the Forecasts of Different Models
1 LiveLab in this lesson — see the labs panel →
19 Ten Common Errors That Arise in Statistical Analysis 10 topics +
- Designing Misleading Graphs
- Drawing the Wrong Conclusion from a Confidence Interval
- Misinterpreting the Results of a Hypothesis Test
- Placing Too Much Confidence in the Coefficient of Determination (R2)
- Assuming Normality
- Thinking Correlation Implies Causality
- Drawing Conclusions from a Regression Equation when the Data do not Follow the Assumptions
- Including Correlated Variables in a Multiple Regression Equation
- Placing Too Much Confidence in Forecasts
- Using the Wrong Distribution
20 Ten Key Categories of Formulas for Business Statistics 10 topics +
- Summary Measures of a Population or a Sample
- Probability
- Discrete Probability Distributions
- Continuous Probability Distributions
- Sampling Distributions
- Confidence Intervals for the Population Mean
- Testing Hypotheses about Population Means
- Testing Hypotheses about Population Variances
- Using Regression Analysis
- Forecasting Techniques
Hands-On Labs Our edge
55 LiveLabs- Understanding the Daily Step Counts of Your Club Members
- Keeping Track of Visitors on a Personal Blog
- Assessing the Level of Student Participation in Various Extracurricular Activities
- Conducting a Survey
- Visualizing the Temperature Fluctuations
- Visualizing Exam Grades Distribution
- Calculating the Relative Frequency
- Figuring the Class Width
- Calculating the Cumulative Frequency
- Illustrating a Cumulative Frequency
- Illustrating a Relative Frequency
- Illustrating a Frequency Distribution
- Representing Fluctuations of Gold Price
- Calculating the Arithmetic Mean
- Calculating the Weighted Geometric Mean
- Calculating the Weighted Arithmetic Mean
- Representing Positively Skewed Data Set
- Representing Negatively Skewed Data Set
- Representing Symmetrical Data Set
- Discovering the Mode
- Calculating Percentiles
- Finding Quartiles
- Finding Coefficient of Variation
- Calculating the Sample Covariance
- Performing Set Operations
- Looking at Types of Probabilities
- Finding Unconditional Probabilities
- Finding the Conditional Probability
- Calculating the Multiplication Rule
- Calculating the Complement Rule
- Calculating the Probability Distribution
- Calculating the Expected Value
- Calculating the Binomial Probability
- Representing the Binomial Distribution
- Calculating Geometric Probabilities
- Computing Poisson Probabilities
- Representing the Discrete Distribution
- Uniform Distribution: Computing Variance and Standard Deviation
- Calculating the Expected Value
- Computing Uniform Probabilities with Formulas
- Portraying Sampling Distributions Graphically
- Calculating the Moments a Sampling Distribution
- Converting Random Variable into a Standard Normal Random Variable
- Graphing the t-distribution
- Calculating the Variance of a t-distribution
- Graphing the Standard Normal Distribution
- Determining the Two-Tailed Hypothesis Test
- Determining the Test Statistic
- Calculating the Error Sum of Squares (SSE)
- Testing Hypotheses about the Population Variance
- Calculating the Slope of a Line from Two Given Points
- Calculating Coefficients and Predicting Sales Revenue in Simple Linear Regression
- Calculating Total Sum of Squares (TSS)
- Visualizing the Test Statistics
- Analyzing User Growth Trends
Labs run in your browser — nothing to install.
03 / FAQs
Questions before you start
What is this Business Statistics course? How does it help businesses?+
This course provides detailed knowledge on how to use statistical analysis to:
- Make data-driven business decisions
- Identify trends and patterns
- Forecast future trends
- Measuring the impact of marketing efforts
When used effectively, it helps businesses grow exponentially.
Are there any specific prerequisites for enrollment?+
Learning Business Statistics sharpens your critical thinking and analytical abilities making you an efficient problem solver. Also improves your communication skills for better, persuasive story-telling. These skills will benefit you both personally and professionally.
Are there any specific prerequisites for enrollment?+
There are no specific requirements for this beginner-friendly Business Statistics course. However, it is recommended to have a basic understanding of algebra and proficiency with numbers to speed up learning.
Is this course beneficial for entrepreneurs? How?+
Absolutely Yes. Learnings from this course can help business owners make more informed decisions, and drive business growth. Entrepreneurs will be able to:
- Identify potential risks and minimize uncertainty
- Analyze customer data to understand behaviors and trends
- Evaluate competitors' performance and identify opportunities
- Forecast future performance and make strategic decisions
- Track and analyze KPIs
Keep going
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- 1 year of full access
- 55 LiveLab included
- Certificate of completion
No credit card required