Completion of this course will give you an understanding of the concepts of the Bayesian approach, understanding the key differences between Bayesian and Frequentist approaches, and the ability to do basic data analyses. Returns a frequency distribution as a vertical array. Returns a future value based on existing values.
Returns a statistical value as a result of time series forecasting. To run regression analysis in Microsoft Excel, follow these instructions. Returns the length of the repetitive pattern Excel detects for the specified time series. The tab will be called Data Analysis, and you can click on it to start performing statistical analysis in Excel. Now a new button will appear under you Data menu. Activate the Analysis ToolPak, then click OK. The lectures provide some of the basic mathematical development as well as explanations of philosophy and interpretation. Regression analysis can be very helpful for analyzing large amounts of data and making forecasts and predictions. Navigate to the tab Add-ins and click on Go, as you see in the image.
For computing, you have the choice of using Microsoft Excel or the open-source, freely available statistical package R, with equivalent content for both options. This course combines lecture videos, computer demonstrations, readings, exercises, and discussion boards to create an active learning experience. In particular, the Bayesian approach allows for better accounting of uncertainty, results that have more intuitive and interpretable meaning, and more explicit statements of assumptions. Statistical analysis has multiple facets, constituting a variety of diverse approaches under a variety of names, in different domains of life, that help to perform a variety of operations and validate the decision making process. If you require statistical analysis beyond data validation and manipulation, tabulation, presentation and calculation of summary statistics, you are advised to use a bespoke statistical package such as Minitab or SPSS. We will compare the Bayesian approach to the more commonly-taught Frequentist approach, and see some of the benefits of the Bayesian approach. Excel is not designed for statistical computing.
We will learn about the philosophy of the Bayesian approach as well as how to implement it for common types of data. On the Data tab, in the Analysis group, you can now click on Data Analysis. This course introduces the Bayesian approach to statistics, starting with the concept of probability and moving to the analysis of data. Select Analysis ToolPak and click on the Go button.