Written by Leong Woo Yan
Edited by Sharifah Amira
Fundamentals of Business Statistics Part 1 by Leong Woo Yan
On 20th July 2018, a workshop was conducted to help employees get a better understanding, regarding the fundamental of business statistics. The workshop started with the basic principle of continuous vs discrete variables and then moved on to explain the basis of distribution while pointing out some common mistakes often made.
An in-depth explanation of statistics i.e. mean, mode median and standard deviation and the basic application were covered during the workshop.
The workshop then proceeded to cover topics such as population and sampling distribution as well as the differences in calculating descriptive statistics using excel formula.
The workshop was very informative and explained distribution and details on Central Limit Theorem. At the end of the workshop participants were given real data exercises to work on, to test their ability to calculate basic statistics and derive simple analysis on various variables by using excel. The next workshop to be conducted will go into hypothesis testing and statistical significance.
Workshop Conducted by
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