Basic Statistical Methods Executive Overview (4 hours)

Description

Basic Statistical Methods focuses on the fundamentals of statistics. It is designed to give professionals the means to efficiently and effectively summarize, analyze and interpret data. This course is beneficial to those in fields that involve the analysis of statistical information.

Lesson 1: Presenting Data

• Describe the difference between descriptive statistics and inferential statistics
• Differentiate between a population and a sample and between qualitative and quantitative variables
• Define the four levels of data measurement
• Construct and interpret summarization procedures for qualitative data, including frequency distributions, relative frequency, percent frequency distributions, bar graphs and pie charts
• Determine how to choose the best graphs/charts for qualitative data
• Construct and interpret summarization procedures for quantitative data, including cumulative frequency distribution, cumulative relative frequency distribution, cumulative percent frequency distribution, and histograms

Lesson 2: Summarizing Data

• Explain the purpose of a measure of central tendency, compute and interpret the mean, trimmed mean, weighted mean, median and mode for a data set, and choose which to use in a given situation
• Discuss the advantages and disadvantages of using the mean, median and mode as measures of central tendency
• Explain the purpose of a measure of variation, and compute and interpret the range, variance and standard deviation for a data set
• Explain the importance of measures of shape, and identify whether a distribution is skewed and its kurtosis based on these measures
• Learn how to compute the mean, median, variance and standard deviation from grouped data

Lesson 3: Basic Probability

• Differentiate between classical, relative and subjective probabilities
• Differentiate between joint, marginal and conditional probabilities, and calculate them from a contingency table
• Differentiate between independent and dependent events and exclusive and non-exclusive events
• Calculate the probability of an event from its experimental outcomes
• Use the Addition Rule to calculate probability of both mutually exclusive and non-mutually exclusive events
• Use the multiplication rule to calculate the probability of both successive and simultaneous events
• Use the conditional probability formula
• Calculate the probability of repeated trials

Lesson 4: Probability Distributions of Discrete and Continuous Random Variables

• Define randomness, and describe the probability distribution of a discrete random variable
• Understand the conditions under which the binomial distribution may be used
• Use the binomial formula to determine probabilities
• Find the mean, variance and standard deviation of a binomial distribution
• Approximate the binomial distribution using the Poisson distribution
• Define the term "continuous random variable"
• Calculate the area under the probability distribution of a continuous random variable
• Describe the properties of a normal curve
• Calculate probabilities using the standard normal distribution

Lesson 5: General Concept of Hypothesis Testing

• Determine confidence intervals for situations where the population mean and standard deviation are both known and unknown
• Identify the null and the alternative hypotheses and how they relate to Type 1 and Type 2 errors
• Know whether to use a one-tailed or a two-tailed test

Target Audience

• Operations Manager
• General Manager
• Plant Manager
• Person with bottom-line responsibility

UL University's workshops are designed for and intended to serve individuals using and relying upon UL services. UL University reserves the right to limit workshop attendance strictly to the foregoing. In addition, UL University reserves the right to change, reschedule or cancel any workshop at any time. UL shall not be responsible for any consequential or other losses resulting from the cancellation or postponement of this workshop such as airline and other travel/personal expenses.

UL University accepts the following forms of payment for registration: Visa, MasterCard, American Express and Invoice/PO. Please note that Invoice/PO is not accepted for online courses.