This two-hour Online Self-Study is designed to help you understand basic statistics and probability concepts. The course emphasizes how a knowledge of basic statistics and probability theory can help you in the following ways: Allows you to compare forecasting methods Gives you an understanding of how much confidence you should have in a forecast Allows you to communicate about forecasting with others Many replenishment systems set safety stock using probability theory. Understanding some of the basic concepts of probability will take the mystery out of how this process works. Furthermore, many of the estimates of fill rates and expected inventory levels use basic probability theory. After completing this course you will have the fundamental building blocks of these techniques and it will help you understand future training modules.