Data Science

Statistical Methods for Decision Making


Skill level


Course cost

About this course

All of us in our day-to-day life use numbers in our calculations. Organizations today are inundated with numerical data and information. In business, it is essential for managers to carry out data analysis and be able to interpret their results for effective decision-making. For this, they need to prepare quantitative arguments to justify their decisions. The Statistical Methods for Decision Making (SMDM) course teaches you how to use statistics to help take a real-world problem and apply various techniques to make effective business decisions.

Skills covered

  • Dispersion
  • Variation
  • Correlation
  • Hypothesis Testing
  • Probability Distributions
  • Measures of Central Tendency

Course Syllabus

Statistical Methods for Decision Making

  • Overview of the Course
  • Measures of Central Tendency
  • Measures of Dispersion
  • Working with R
  • Basics of Probability
  • Marginal Probability
  • Bayes Theorem
  • Probability Distributions
  • Poisson Distribution
  • Normal Distribution
  • Central Limit Theorem
  • Hypothesis Testing


Hypothesis Testing on Golf Equipement

Par Inc., is a major manufacturer of golf equipment. Management believes that Par’s market share could be increased with the introduction of a cut-resistant, longer-lasting golf ball.The objective of the project is to use Hypothesis Testing and visualization to evaluate a new golf ball coating designed to resist cuts and provide durability by comparing the driving distances of the old and new golf ball.

Course Certificate

Get Statistical Methods for Decision Making course completion certificate from Great learning which you can share in the Certifications section of your LinkedIn profile, on printed resumes, CVs, or other documents.

GL Academy Sample Certificate
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