Name: Statistics Fundamentals
Rating: 4.86 (311 reviews)

Free preview

Overview

Statistics Fundamentals Course Overview

Statistics Fundamentals introduces the foundational concepts needed to run a statistical test and interpret the results. We will overview the two branches of statistics–descriptive statistics and inferential statistics—and run hypothesis tests on real and simulated data sets using Excel’s Data Analysis ToolPak. We’ll also examine key fundamental concepts like the Central Limit Theorem, Empirical Rule, and Law of Large Numbers.

The topics covered in this course will support you in conducting good analysis, applying data to business decisions, and exploring the more advanced topics within the Business Intelligence and Data Analysis program such as machine algorithms.

Statistics Fundamentals Learning Objectives

Upon completing this course, you will be able to:

Define and recognize key descriptive statistics
Describe and distinguish between the central limit theorem and law of large numbers
Identify strategies for constructing an unbiased sample
Assemble and perform a two-tail or one-tail t-test
Identify an appropriate sample size based on prior data using a power analysis

Who should take this course?

The Statistics Fundamentals course is perfect for anyone without a background in statistics who would like to build up their understanding or for those who just want a refresher. This course is designed to equip anyone who desires to begin a career in data analysis, quantitative analysis, business intelligence, or other areas of business and finance with an understanding of foundational statistics tools and concepts.

Statistics Fundamentals

Led by Lester Leong

Get Started Enroll For Free

Level 2

Approx 2.5h to complete

100% online and self-paced

Get Recognized With CFI

See All Certification Programs

What you'll learn

Lesson

Multimedia

Exams

Files

Statistics Fundamentals Introduction

What is Statistics?

Learning Objectives

Downloadable File Pack

Why Use Statistics?

Descriptive vs Inferential Statistics

Descriptive Statistics

Introduction to Descriptive Statistics

Measures of Central Tendency

Measures of Dispersion

Calculating Variance and Standard Deviation

Shapes of Distribution

Visualizations

Descriptive Statistics Through Excel's Data Analysis Toolpak

Sampling

Chapter Introduction

Samples vs. Populations

Law of Large Numbers

Central Limit Theorem

Determining Sample Size

Controlling for Bias

Hypothesis Testing

Scenario Introduction

Hypothesis Test Explained

Hypothesis Test Steps

Stating Your Hypothesis

Setting Your Confidence Level and Alphas

Two-Tail Test

Calculating Our P-Value

Running the Two-Tailed T-Test in Excel

Rejecting or Failing to Reject H0

Reporting Our Results

One-Tailed T-Test

Running the One-Tailed T-Test in Excel

Case Study Walkthrough

Errors and Estimation

Introduction

Type I vs Type II Errors

Poll: Which is Worse?

Power Analysis: Effect Size

Power Analysis: Power

Power Analysis Solution

Qualified Assessment

This Course is Part of the Following Programs

Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.

Business Intelligence & Data Analyst (BIDA)® Certification

Statistics Fundamentals is part of the Business Intelligence & Data Analyst (BIDA)® certification, which includes 32 courses.

Skills Learned Data visualization, data warehousing and transformation, data modeling and analysis
Career Prep Business intelligence analyst, data scientist, data visualization specialist

Learn More

What our students say

Great Course
Statistics Fundamentals! A great revision course it was for me

JUSTINE KACHANTA

Fantastic
I highly recommend your platform because it is really excellent for learning several valuable courses

Weiam Adel Harwan

Good content and flow

Ghaidaa Bukhari

exciting experience
Thanks for you efforts

Neama Hantira

Enhanced cognitive skills
Become aware of new methods to approach a problem

Kefuwe Lebakeng

Wonderful
Informative, got a certificate, and for free

Abdul Rehman Waqar Ahmed

Very satisfied
Very informative content and got fundamental knowledge of statistics.

Mikheil Kakabadze

Easy to follow
Easy to understand language and examples from real life makes it easy to follow and comprehend.

Farooq Anwer

i learn a lot from cfi
learing and new skill

JRV SIMHACHANDRA

Easy to follow and understand

Oluwatosin Fasakin

Engaging
Very informative and engaging

Modupe Kafi

It was Awesome
Keep on providing service

James Msiska

Great
Im learning all over again but this time at my own place. I feel very involved and inspired.

Devin Ellington

You guys are just fantastic
Thank you sooo much for what you guys are doing and continue to do for the student community, your courses help us a lot.

Anu Priya P

Detailed
The course content is well detailed and defined

Rudolf Nutor

Very interesting
The course is easy to understand

Eguolor DOLOR

I recommend this course strongly for those who want to understand by magical way from such great institute.

Hossam Tammam

A good experience! It takes endurance, but it's completely worth it.

Elodie Ouelo

Very educative and practical
Take this advantage and make the best of knowledge of data analytics

ISAAC ABIMBOLU

I had a period of sabbatical before college, so I didn't have a good foundation, but I took statistics as a course in college. This online class has helped me a lot!

Ximan Ding

Excellent Statistics refresher
Step by step of statistics concepts and how they are applied in the real world. I love how the concepts are demonstrated using the approach of real-world examples. I recommend this course to any statistics beginner and an excellent course for those that want to refresh on statistics.

Linda Etuhole Nakasole

Clear Approach
Clear Approach and understandable approach to statistics

Konstantinos Lekkas

Insightful
Insightful & Engaging

Cecil Oduro-Nyarko

My experience has been so nice
I would recommend this service to many other statisticians out there

Brian Tumushime

the very best
gained a lot of practical insights

Davidson Mhuru

Thrilling
The lessons are outlined in a well specialised manor , I am happy to learn new things

Tinashe Madondo

I love how the tutor use hypothesis testing to measure outcomes in real world

Kenneth Kiarie

quite an interesting course and sharpens one`s mind in thinking
I would encourage all students to do something under Statistics

STANLEY DUBE

Review
Great experience Thanks

Orilabawaye Faith

Statistics is fun
A great gateway to gain knowledge about Statistics fundamentals.

Omar Almuzaini

Tough
was quite difficult thou engaging

Ajah Chukwuemeka James

this is the best course to transform your work jurisdiction and improve your skills to be the best in your abilities to apprehend your future ambitions to be a future leader.

Darlington Musapenda

Awesome
Great Learning experience

Charles Awematu Azakem

PRECISE AND INTERACTIVE CONTENT
Statistics plays a fundamental role in analysis business and this course content has proven to offer a precise, and interactive content on the fundamentals of statistics.

PAUL NGUTI KAVEVO

Excellent!
This is a wonderful course...reminded me of much..

Stephen Maduveko

Great
Strongly Recommended

Safaa Mustafa Amin Elsenaty

Great course!
The course content feels up to date and applicable to real life business use cases, and the short videos intelligibly summarise a lot of information

Alexander Parry

Amazing
Its been amazing and I look to more insights for the remaining courses ahead

Charles Osei-Wusu

Excellent
Detailed, educative and engaging contents.

Folake Fadeyi

I had a good experience
I recommend this to everyone

John Fynn

Love it
I have always wanted to go through basic probability and this is worth it

Chioma Okoli

I loved the course content very much.
It was a great one, I'd encourage others to be keen in order to understand since there are no interactive exercises in between.

Laventer Otieno

There's always a lot to learn

Muhammad Baba Usman

STATISTICS FUNDAMENTALS
I already finished this course and got a certificate. i can do better things than this with will of God

ABDI JABESA

Interactive
It was engaging and insightful

Emmanuel Chukwuemeka

AWESOME
PAINSTACKING THOUGH, BUT IT WAS WORTH IT

Julian Otuma

Engaging
A very engaging course

Pule Molise

good
the exams is very advance.

Osifo Hope Osagioduwa

Content was so educative

Kazibwe Ivan Tommy

DO HARD THINGS
Be prepared to do the hard things!

Oluwaseun Emmanuel Ogunjobi

Awesome
Keep giving your best shots....

OPEYEMI OLALEYE

This was one interesting topic.
Needs one to be attentive to detail.

Lynnette Inyanji Wafula

Good clear videos. Well thought presentation.
Great content. Challenging in a good way.

Ndumba Methuselah Chisengi

Well Tailored Easy To Grasp
The material is well explained with bite-sized videos and visuals easing the consumption of otherwise daunting material. This would have made my undergraduate experience soo much easier.

Michael Gikandi

This course provided me a clear understanding on how Statistics is reviewed and manipulated and as well , how important we can use Stats on a dalily basis.
I've been trying to pass that exam over a year , and after reviewing the lessons and made some manipulations in real life i was finally able to succeed. It was one of the great feeling i ever had.

Gregory Hans Defay

the experience has been great
do it again and again

Peter Lugalia

BIDA
Extremely informative

Denis Gitumu

It only took a few days. Now I'm hooked!
When I first came across the CFI and the courses it offers, I didn't make much of it. However, after just a few days of trying out some of the free courses I can't seem to get enough of their material. This is awesome, thank you CFI team.

Sam Andati

excellent course
This course is the perfect choice for anyone who struggles with basic of statistics

Younes seffahi

Succinct
I would suggest this course to anybody interested in gaining hands-on experience and suitable statistical knowledge. It is the finest. Cheers CFI

William Mburu

Impressively set up course
It was a bit tricky topic but precisely covered in layman terms and in detail

Sakshi Juvekar

Fantastic
It was a great learning process

Isogun Temitope

NICE COURSE
The course is very good.

RAPHAEL ADEMOLA ODUNAIYA

Lovely
it was very interactive and learnt a lot of new concepts

Mariama Quarshie

CFI skills
CFI has equipped me with the needed skills for the job market

Bedrick Antwi

Statistics Fundamentals nt
This course improves my knowledge of descriptive and inferential statistics, especially using excel to conduct the tests. Kudos to the entire CFI team.

Oluwasegun Abayomi Oginni

Awesome
Good introductory course to data analysis especially because it factors in the use of excel

JOSEPH MUTENGA GULOBA

Educational
I'm getting a career out of this

Akinrinade Oluwaseun

This was an amazing experience.
It was intense however so rewarding - i had to learn how to manage my time properly and try to have the courses completed. Where i would fail especially with the course assessments, i would take a step back, go back to the course videos just in case i missed something. I also had a notebook where i could write down key points during the lecture and go through them whenever i had the opportunity. Thank you ALX for this amazing opportunity.

CHRISTINE TUMUHAIRWE

Awesome
It was a good experience learning Statistics

Maurice Gichuru

great
wonderful experience

IFENNA EZRA EZEOFOR

Great Course
This has been one of my best courses so far

Oni Segun John

this is totally new and i love it
everything is on point

Melda Ochola

All is fine . Methodology good
Thanks for this amazing experience

AKOUETE KENNETH TOGBO

Exposure to hypothesis was cool

Oluwadamilola Henry Abikure

Very good learning experience
The course content was very helpful

Joseph Tettey Nartey

Very educative
Extensive coverage on the course

Ezra Wanyama Waswa

Good One
Easy to follow course

Gift Oghogholosu

Informative
pay attention to the exercises

Maureen Onovae

Engaging
I felt engaged and learnt a lot all through the slides of the course. It's has added more knowledge to my statistics skills.

Isaac Tari

Highly recommend
Great course content

CHRISTIAN NWACHUKWU

I enjoyed the course
It will teach you all need to know

Scholastica Shall

CFI IF GREAT👍👍👍
learning with Cfi is indeed an awesome experience

Bidemi Damola Oluwanishola

great
great course content i love it

BULALE JAMA

Great Intro to Statistics
The content was a great refresher on Statistics fundamentals

Bobie Osei-Tutu

Course is intersting

Selorm Bright Ackom

Investment Banker
It's a great course and I decided to take the BIDA after my positive experience on the FMVA program

Silas Adomako

Well planned curriculum
I find the real application of statistics in financial data analysis.

Venkatesh Kumar

Very Technical
requires much attention and details

Joseph Evans Eshun

Great
Give more practical insights

Mona Jose Camille GRAHOUAN

Good work
The content is great, and this coming from someone who studied statistics at the Uni is something!

Michael Kamba

Interesting
BIDA experience is way more engaging but at the end, I will surely not be the same.

Aondowase Kwembe

It's really Worth engaging
You will not regret signing up for this

Funmilayo Adebayo

Great Presentation
Great & Easy to follow presentation

Amanuel Gebissa

BIDA is so interesting
challenging and impactful experience

Albert Imahsunu

informative
The content taught here is quite informative and eye-opening.

Karabo Lamola

Enlightening
I learner a lot from this course

Terry Joseph-Umukoro

Enlightening
I learner a lot from this course

Terry Joseph-Umukoro

Great and Expository Course

Israel Ajayi

great learning

kehinde olajide

Frequently asked questions

What are the requirements to take the courses?

All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, Microsoft Suite (2016 or newer), and a stable internet connection. Click here to view the Technical Requirements

Can I download the Excel files and financial modeling templates for the course?

Absolutely! All the files and templates needed in a course are available for download. Just look for a module that shows Downloadable Files within the course dashboard. See here for a visual guide on how to do this.

How long do I have to complete the courses?

You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines. Click here to compare our available enrollment options.

Are CFI courses officially accredited?

Yes, CFI is accredited by the Better Business Bureau® (BBB) to maintain training standards, the CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the USA. Most of our courses qualify for verified CPE credits for CPA charter holders. Please refer to this page to view all available CPE credits.

Are there any additional fees or costs?

None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification. You can see our enrollment fees listed here.

What currency are your courses priced in?

All our online courses are priced in USD. As this is a recurring payment, we accept all major credit and debit cards including Visa, MasterCard, and American Express.

How do I earn my certificates?

Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 80% passing grade. For more information on how to earn a course certificate, click HERE.

How are the exams conducted?

Students are required to complete an online assessment (Multiple choice questions, Fill-in-the-Blanks, and Excel Questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 80% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need. Students are also required to complete the FMVA® final exam to earn their certification. How to Take a Qualified Assessment

Can I email the instructor if I have questions?

While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries. The Full Immersion bundles include a premium email support function that allows you to communicate directly with in-house experts regarding course content. This is one of the key features that sets the Full Immersion bundle apart and makes it a worthwhile upgrade over the more affordable self-study bundle. You can compare more features in our bundles here.

Will these courses help me advance my career?

Based on hundreds of reviews from thousands of students we know how CFI courses have helped so many people advance their finance careers. Our courses are designed to be extremely practical and simulate the experience of being trained as a professional financial analyst…the ultimate way to advance your career. For real-world examples and to help delve even deeper into the course concepts, please look into our free career resources library.