An ever-present need in business is to compare two populations, such as sales of related products, different customer segments, or productivity of factory work shifts, to name a few. In this course, you will examine how to compare two population means. Just as there is a need to look at two populations, the same is true for larger groups. However, the process of comparing three or more population means is significantly different. You will investigate the comparison of multiple means, including the experiment designs to choose from and the three-step process to follow. Additionally, you will explore how hypothesis testing is used to make judgments about a population.
Many times, however, comparisons are needed on more than one variable, such as a survey given to two different audiences or a defect caused by different pieces of equipment. Lastly, in this course you will examine tests on two variables, having either two options or multiple options and identify the formulas used in these comparisons.
It is recommended to only take this course if you have completed Presenting Quantitative Data, Descriptive Statistics for Business, Making Predictions Using Statistical Probability, and Inferential Statistics or have equivalent experience.
Faculty AuthorCindy van Es
Benefits to the Learner
- Examine how to compare two population means
- Identify the two types of data and the steps to follow for each type
- Review the formulas used in your calculations and the tools needed to visualize results.
- Practice population comparisons
- Investigate the comparison of multiple means, including the experiment designs to choose from and the three-step process to follow
- Define factorial designs and what situations require their us
- Perform a summative exercise on comparing multiple means
- Explore how hypothesis testing is used to make judgments about a population
- Define both binomial and multinomial random variables
- Identify the steps to take in two-option and multi-option situations
- Identify the formulas used in these tests and perform your own testing
- Examine tests on two variables, having either two options or multiple options
- Identify the formulas used in these comparisons
- Assess the relationship between variables and visualize your findings in Excel
- Entry level to executive professionals looking to uncover insights from data
- Students who are pre-MBA or considering earning an MBA
- Individuals interested in moving into an analyst role
- Individuals seeking to leverage statistical or analytic skills
- New, emerging, and experienced leaders
- Analysts and researchers
Applies Towards the Following Certificates
- Business Statistics : Required Courses