Business Statistics

Posted: September 3rd, 2013

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Business Statistics

Course Description

Online business statistics practice offers an introduction on the fundamentals surrounding statistics application in various business areas as well as administration. The topics involved in this course involve descriptive statistics techniques, basic theories of probability distributions, hypothesis testing and estimation and linear regression and correlation. This course also offers a statistics introduction as a tool aimed at dealing with quantitative form information. I am in the course of learning statistical skills that should offer significant contribution to my effective execution of policy and management information.

It is my understanding that after the completion of the course, I should be in a position to distinguish the differing data types and the different options of collecting data. I should also be able to describe through numeric or graphical methods data sets from given information sets. I should also be in a position to interpret graphs and tables, adequately discuss statistical concepts such as statistical independence, variability, hypothesis testing. I should also be able to perform analyses when provided with basic data including making models when using regression and have an adequate understanding of the connection between good business practice and statistics. In addition, I should be able to utilize packages in computer software and effectively present statistical findings.

Current Progress

In relation to my current experience and progress in the course, I am a new learner in the area of descriptive statistics and analysis. I have satisfactorily completed learning the module on graphical displays. I have mastered histograms for grouped data, frequency polygons for grouped data and box and whisker plots. In addition to these, I have also mastered the interpretation of relative frequency histograms, cumulative distribution ogives, and computations of mean, median, and mode in the descriptive measures module.

This was a good exercise but a point to note is that it took me a considerably long time to achieve. The main challenge I faced in the course of my learning involved repetitions of mistakes of some of the problems involved in graphical analyses. I found this very frustrating but adequate and continuous practice enabled me to pull through. In addition, I found it challenging, frustrating and hard to understand in the topics of histograms and frequency polygons for grouped data. Despite these hardships, it was fun to learn. I enjoyed learning about details on percentages, minutes, pounds, ages as well as graphs. My current progress suggests that I am going to be in a good position to master the remaining topics on percentiles, sample standard deviation, weighted mean, sample standard deviation, comparisons on mean, median and mode.