Tag Archives: Business 212

How to Pass study.com Business 212: Business Statistics Final Proctored Exam

If you are going deep into Study.com Business 212: Business Statistics, you’re set for an exciting adventure in the liberal use of statistics and probabilities, hypothesis testing included. This course is specifically tailored in such a way that it will provide you, the business-minded learner, with the statistical tools necessary for decision-making. Nevertheless, as you will see, there is no need to deal with really complex calculations that might be a domain of genuine mathematicians who have a PhD. No matter if you are weak in numbers or if you love numbers this guide will help you do well in the course and the final proctored exam.  Imagine this: About everything you do, and your ‘evidence’ is the data you gather, the findings you make while solving a case. By the time you leave this course, you will be able to go through these hints, look for patterns, and draw conclusions about what comes next much like a detective. Starting from the information about categorical data up to identifying concepts of regression Business 212 is a course that includes it all. And stopping by the library, doing a little study here and there, on the right topics, and a little bit of use of mathematical statistics to make some calculations, helps you pass that final exam so delightedly. Ready to get started? Let’s dive in! — What to Expect from Business 212 Class📖 Okay, here is the question, what exactly are you going to immerse into in this course? Let’s break it down. In Study.com’s Business 212: Business Statistics, you are ready to unlock the secret that numbers hold to running a business. Spread across more than 16 chapters this course is designed to equip you with the skills of a business analyst who can work with data.  First of all, there is the Overview of Business Statistics: Here, you’ll be introduced to descriptive and inferential statistics with key roles in data summarizing and prediction. You are going to be introduced to variables as well as their use in statistical models as predictors of relationships and results. I advise you to pay a lot of attention to these basics because these are going to be important for all subsequent tasks and assignments.  Later on, the students move to more advanced sections of the course, such as Probability and Sampling Methods. Probability is crucial to the business as it will assist in identifying the chances of the occurrence of distinct events. Data collection techniques on the other hand will explain how data can be collected in a manner that it represents a given population. These concepts are on the exam frequently and as a result, ensure that you fully understand them.  This course also covers Hypothesis Testing and Regression Analysis. Statistics can be thought of as a sort of adversarial process; hypothesis testing is like being a judge – you’ll be learning how to determine whether the data speaks for the claim. As for the quantitative approaches, the regression analysis will assist you in comprehending the correlation between a variable and the capacity to predict another one. These topics are not only interesting but are also extremely relevant in the contemporary world. Most of these skills will be applied practically in the business world, ranging from estimating sales to examining trends.  In other words, prepare yourself for dozens of challenging ideas and pieces of information on a wide range of areas so that you will be able to properly analyze and interpret data sets. Wishing to take up the course week by week? Let’s lay out a study plan to keep you on track! Click here for exam support Week-by-Week Study Plan to Ace Business 212 Exam 📝 Acing Business 212: Business Statistics is all about consistent study and practice. Here’s a week-by-week plan to help you stay on track and master the material. Week 1: Introduction to Business Statistics Focus on: Understanding descriptive vs. inferential statistics, and qualitative vs. quantitative variables. Activities: Watch the video lessons on Study.com. Take detailed notes on key concepts. Complete the quizzes for each lesson. External resource: Khan Academy’s Intro to Statistics Week 2: Categorical Data and Data Representation Focus on: Summarizing and interpreting categorical data using tables and graphs. Activities: Study lessons on creating and interpreting line graphs, bar graphs, and pie charts. Practice creating these charts using Excel or Google Sheets. External resource: How to Make Graphs in Excel Week 3: Descriptive Statistics: Measurement Focus on: Measures of central tendency (mean, median, mode) and dispersion (range, variance, standard deviation). Activities: Watch the relevant video lessons. Solve practice problems from the lesson. Use Excel to calculate mean, median, and standard deviation for different data sets. External resource: Khan Academy’s Descriptive Statistics Week 4: Probability for Business Statistics Focus on: Basic probability concepts, including subjective probability, relative frequency, and probability rules. Activities: Go through the lessons on probability. Solve end-of-chapter problems. External resource: Introduction to Probability by MIT OpenCourseWare Week 5: Sampling Methods and Confidence Intervals Focus on: Understanding different sampling methods and how to construct and interpret confidence intervals. Activities: Study the lessons on sampling and confidence intervals. Work through practice problems. External resource: Simple Random Sampling Explained Week 6: Hypothesis Testing Focus on: Steps of hypothesis testing, types of errors, and one-tailed vs. two-tailed tests. Activities: Watch the video lessons and take notes. Complete the quizzes. Practice hypothesis testing with sample problems. External resource: Hypothesis Testing by Statistics Learning Centre Week 7: Analysis of Variance (ANOVA) Focus on: Conducting and interpreting ANOVA tests. Activities: Study the lessons on ANOVA. Practice with example problems. External resource: ANOVA in Excel Week 8: Regression Analysis Focus on: Understanding and applying simple and multiple regression analysis. Activities: Watch the regression analysis lessons. Use Excel to perform regression analysis on sample data sets. External resource: Linear Regression in Excel Week 9: Review and Practice Focus on: Reviewing all previous topics and practicing with quizzes and sample tests. Activities: Revisit difficult topics and watch the lessons again if