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Statistics for Business-II: An online course by IIMBx

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Indian Institute of Management, Bangalore (IIMBx) is conducting an online course on 'Statistics for Business - II'. The course enables to examine data drawn from allied fields of business such as Finance and HR, and learn how to simulate data to follow a specified distribution.

Statistics is a versatile discipline that has revolutionized the fields of business, engineering, medicine and pure sciences. This course is Part 2 of a 4-part series on Business Statistics, and is ideal for learners who wish to enroll in business programmes. The first two parts cover topics in Descriptive Statistics, whereas the next two focus on Inferential Statistics.

Spreadsheets containing real data from diverse areas such as economics, finance and HR drive much of our discussions.

In Part 2, we use the language of probability to examine the underlying distributions of random variables. We model real-life phenomena using known variables such as Binomial, Poisson and Normal. We learn how to simulate data that are distributed according to these variables.

We shall take up datasets that have over a million rows, which makes it difficult to analyze using a spreadsheet. This is a natural setting for R, an advanced statistical programming platform. We incorporate helpful tutorials to get learners acquainted with the platform.

Course Syllabus:

• To use spreadsheets to analySe larger datasets
• To pose pertinent business questions of datasets and to answer them
• To describe a random variable in probabilistic terms and derive parameters such as mean and variance
• To draw a simple random sample from a population
• To model business phenomena with known random variables such as Binomial, Poisson and Normal
• To simulate variables that follow a prescribed distribution

Prerequisites:

• Candidate should have the prior knowledge on basic Algebra and some calculus

Course Details:

• Course Starts on: October 6
• Course length: 7 weeks
For more details on the course visit the website