About this course

All of us in our day-to-day life use numbers in our calculations. Organizations today are inundated with numerical data and information. In business, it is essential for managers to carry out data analysis and be able to interpret their results for effective decision-making. For this, they need to prepare quantitative arguments to justify their decisions. The Statistical Methods for Decision Making (SMDM) course teaches you how to use statistics to help take a real-world problem and apply various techniques to make effective business decisions.

Skills covered

  • Dispersion
  • Variation
  • Correlation
  • Hypothesis Testing
  • Probability Distributions
  • Measures of Central Tendency

Course Syllabus

Statistical Methods for Decision Making

  • Overview of the Course
  • Measures of Central Tendency
  • Measures of Dispersion
  • Working with R
  • Basics of Probability
  • Marginal Probability
  • Bayes Theorem
  • Probability Distributions
  • Poisson Distribution
  • Normal Distribution
  • Central Limit Theorem
  • Hypothesis Testing

Statistical Methods for Decision Making

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