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Course Description

Businesses rely heavily on data to make informed decisions. Yet data collection comes with its own costs. To optimize this process, it is key to assess how much data you truly need to gather to make precise decisions.

In this course, you will apply the science of sampling, using data from a sample of a population to draw conclusions about the entire population. You will identify the appropriate sampling method for a particular scenario and business goal. Once you have this data, you will utilize it to predict outcome probabilities with improved accuracy. Finally, you will also explore the reverse process: understanding how much data collection is required from a set accuracy goal. Both these methodologies hold substantial value in business planning and will set you up for a more optimized approach to data collection for your business.

You are required to have completed the following courses or have equivalent experience before taking this course:

  • Data Analysis and Probability
  • Decision Analysis
  • Continuous Distributions

Faculty Author

David Juran

Benefits to the Learner

  • Use data from a sample of a population to draw conclusions about the entire population
  • Calculate the confidence interval for a measurement based on the sampled data
  • Decide the appropriate sampling method for a particular scenario and business goal

Target Audience

  • Professionals looking to uncover insights from data
  • Students who are pre-MBA or considering earning an MBA
  • Analysts and researchers
  • Individuals interested in moving into an analyst role
  • Anyone seeking to leverage statistical or analytic skills

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Jun 12, 2024 to Jun 25, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • Please note the content in the Applied Statistics course curriculum was developed to be completed in sequential order as course concepts build throughout the program. With this in mind, please be sure you are scheduled to complete or have completed the courses in order. For example; JCB571 prior to JCB572, JCB572 prior to JCB573, etc.
Type
2 week
Dates
Nov 27, 2024 to Dec 10, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • Please note the content in the Applied Statistics course curriculum was developed to be completed in sequential order as course concepts build throughout the program. With this in mind, please be sure you are scheduled to complete or have completed the courses in order. For example; JCB571 prior to JCB572, JCB572 prior to JCB573, etc.
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