Diploma in the Foundations of Probability and Statistics

Description

Understanding probability and statistics is indispensable in the contemporary world, where print and electronic media are full of statistical information and interpretation. This course aims at providing the fundamental concepts of understanding probability and statistics with a wide range of applications. The course begins by illustrating the significance of statistics to make decisions using models involving data. You will discover the science concerned with developing and studying methods for collecting, analyzing, interpreting and presenting empirical data. Next, the various types of data measurement scales in statistics are explained. You will explore the importance of recognizing different types of data for performing various kinds of statistical analysis. In addition to this, the methods of categorizing and classifying various types of data are also described. Following this, you will study the concept of cases and variables in statistics. This will include the process of measuring a characteristic that can take on different values. The procedure for collecting data at single and successive data points using cross-sectional and time-series methods are described.

Next, the course explains the methods of presenting various types of data in the form of charts. You will discover how the bar chart is a convenient way of presenting a categorical variable and the methods of summarizing categorical data using median and mode. In addition to this, you will study the core principles in the process of describing numerical data in statistics. Following this, you will study the process of describing categorical variables based on tabulating their frequencies or probabilities and the importance of contingency analysis in quantifying their association. Next, the processes of ascertaining the relationship between two or more numerical variables are discussed. This will include the significance of the dependent variable in manipulating the independent variable. Subsequently, the course explores the various fundamental aspects of probability studies. You will learn to apply the rules of probability to determine the measure of the likelihood of an event occurring. This will include the process of predicting the certainty of an event through various illustrative examples.

Finally, you will be taught about the process of deriving conditional probability equation from the multiplication rule. The role of a tree diagram in calculating the probabilities during dependent and independent events are also explained. Following this, you will comprehend the significance of random variables in mapping the outcomes of a random process to a numeric value. In addition to this, the process of determining the various measures of association and correlation between two or more random variables are illustrated. Lastly, the course explains the process of modelling count data using various probability distributions. You will ascertain the need for a rich class of probability distributions in modelling flexible and generalized count data distributions. “Diploma in the Foundations of Probability and Statistics” is an informative course aimed at providing basic  knowledge on statistical reasoning to quantify the uncertainties’ concerned with a random event. The course lays the foundation to make the learners sensible, critical users of probability and statistics, able to apply their processes and principles to real-world problems. Enrol in this course, learn about the ability to judge whether the statistics and probability are meaningful, and are being used appropriately.