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Fundamentals of Statistics

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Date(s): Apr 11, 2022 - Apr 12, 2022
Time: 8:00AM - 12:00PM
Registration Fee: $139.00
Cancellation Date: Apr 04, 2022
Location: Online

Course Description

Today's environment is producing and overwhelming businesses with data about sales and marketing, operations, accounting, customers and suppliers, and many other facets. Interpreting and using data to create insights and make decisions is more important than ever before. Basic analysis and statistics are fundamental skills for successful decision making. While many professionals have a handful of statistics and ratios in their toolbox, they may be missing out on other opportunities to understand and use the data they work with every day. This course will cover the fundamental data analysis and statistics needed in business today by teaching the fundamentals, cover examples and provide exercises to learn and practice.

Potential CPE Credits: 8.0
Technical Hours: This class meets 8.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Live
Experience Level: ALL
Category: Auditing

Course Objectives

Upon completion of this course, participants will be able to:

• Define & understand data analysis and statistics

• Differentiate between the types of central tendencies

• Understand and apply the measures of variation

• Differentiate and apply the types of frequency distributions

• Understand the difference between baselines and benchmarking

• Learn and apply time series, Pareto, correlation and Chi-Squared statistics

Detailed Course Outline

Introduction to Data Analysis & Statistics

  • Define Data Analysis

  • Population vs. Sample

  • Random Sample vs. Non-random Sample

  • Variables

Measures of Central Tendency and Variation

  • Measures of Central Tendency

    • Mean, Median, Mode

  • Measures of Variation

    • Range and Interquartile Range

    • Variance and Standard Deviation

  • Examples and Exercises

Frequency Distribution

  • Quantitative Distributions

  • Types of Frequency Distributions

    • Normal, Uniform, Skewed, J-Shaped, U-Shaped, Bi/Multi-Modal

  • Examples and Exercises

Baselines and Benchmarking

  • Definition

  • Examples and Exercises

Time Series, Pareto, Correlation and Chi Squared

  • Time Series

  • Pareto Analysis

  • Correlation

  • Chi-Squared (x2)

  • Examples and Exercises


No prerequisites required.


Bret Kobel

Bret Kobel is Managing Partner for Verracy Training & Consulting and has more than 20 years of professional finance, accounting, audit, risk and compliance experience. Mr. Kobel specializes in internal controls, process improvement, process transformation & implementation with organizations operating under GAAP and/or IFRS Standards. He brings a diverse background to the organization from venture-backed startups to global Fortune 500 companies.


Prior to joining Empower, Mr. Kobel spent two years on assignment in Singapore as the Regional CFO and Controller for an international logistics company responsible for seven countries in the Asia Pacific region. Mr. Kobel was tasked with transforming the financial organization and redesigning the financial processes to ensure timely and accurate financial reporting.


Prior to that, Mr. Kobel spent several years with a large international drilling services company operating in over 40 countries on six continents. He was responsible for developing the company’s initial policies and procedures and implementing the baseline internal controls framework for the company as well as the initial Enterprise Risk Management (ERM) program. Mr. Kobel later led global Internal Audit teams performing the first ever internal audits in the company’s 120-year history.


Earlier in Mr. Kobel’s career, he was part of a team that interpreted the newly released 1992 COSO Internal Control – Integrated Framework that worked to define a set of policies and procedures for one of the largest university systems in the nation and later led teams conducting the initial internal audits for the newly-implemented procedures.


Mr. Kobel received his BS degree from Indiana University and his MBA from The University of Texas at Austin. He is a member of the Institute of Internal Auditors (IIA) and the Association of Certified Fraud Examiners (ACFE) and is currently an instructor and conference speaker for the IIA and ISACA.

Additional Information

TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.

To see answers to our Frequently Asked Questions, visit

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