Essential Statistics for Data Analysis using Excel | Microsoft on edX

Wayne Winston: Hi, I’m Wayne Winston. Liberty Munson: Hi, I’m Liberty Munson. Welcome to Essential Statistics
for Data Analysis using Excel. So Wayne, when you think about
this course, what is the one thing you want people to get out of it? Wayne Winston: Well, I think
most people are afraid of data and afraid of statistics,
and they really shouldn’t be. They mostly have Excel on their desktop. And I think we can show
people in this course how they can use Excel’s powerful
data analysis features to really understand and analyze the explosion of
data that they’re seeing in the world. Liberty Munson: Yes, and certainly
in the newest release of Excel they’ve made it much, much easier
to do a lot of these statistics. So speaking of statistics,
what’s your favorite one? Wayne Winston: Well,
I guess I would say– the median income is a measure
of how well-off a country is. The median income is the income
of sort of the middle person– the 50th percentile person. And the mean income is
the average of everybody. So we look at the average
income in the United States the last 30 years,
adjusted for inflation. It’s gone up because the people
at the top have made more money. But the median income
has gone down, which means the typical person is worse off. I think we’re seeing in American
politics, and politics around the world that the median income is probably
more important to understand the world than the mean income. Liberty Munson: You know and
that’s actually a perfect reason why people should take this course. Understanding the statistics
that are driving the news that is making the headlines today. Understanding that if you look at
it, and someone reports the average, oh America is doing better. When in fact, if you look at
the right statistic, the median, we’re in fact doing worse. Wayne Winston: No, I totally agree. And again I hope you’ll join us in
this course, and see how much fun and how easy it is to use Excel
to understand how to analyze data and understand uncertainty.

Glenn Chapman

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