Business Statistics : A First Course

by Levine, David M.; Berenson, Mark L.; Krehbiel, Timothy C.

• ISBN13: 9780130348272
• ISBN10: 0130348279
• Edition: 3rd
• Format: Paperback
• Copyright: 2003-02-01
• Publisher: Prentice Hall

Summary

This book covers the concepts and applications of statistics used in the functional areas of business-accounting, marketing, management, economics, and finance. With a strong emphasis on concepts rather than on statistical methods, it shows readers how to properly use statistics to analyze data, demonstrates how computer software is an integral part of this analysis, and provides many exercises, cases and projects to support the learning process. Introduction and Data Collection. Presenting Data in Tables and Charts. Numerical Descriptive Measures. Basic Probability. Probability Distributions. Sampling Distributions and Confidence Intervals. Fundamentals of Hypothesis Testing: One-Sample Tests. Hypothesis Tests for Numerical Data from Two or More Samples. Hypothesis Tests for Categorical Data From Two or More Samples. Simple Linear Regression. Multiple Regression Analysis. Time Series Analysis. Statistical Applications in Quality and Productivity Management.

Table of Contents

Preface	xv
Introduction and Data Collection	1	(44)
Why a Manager Needs to Know About Statistics	2	(2)
The Growth and Development of Modern Statistics	4	(1)
What Readers of This Textbook Need to Know About Microsoft Excel and PHStat, Minitab, or SPSS®	5	(1)
Why Data Are Needed	6	(1)
Sources of Data	7	(4)
Types of Data	11	(3)
Design of Survey Research	14	(2)
Types of Sampling Methods	16	(6)
Evaluating Survey Worthiness	22	(23)
Summary	27	(1)
Key Terms	27	(1)
Chapter Review Problems	27	(3)
Case Study: Alumni Association Survey	30	(1)
Basics of the Windows User Interface	31	(2)
Introduction to Microsoft Excel	33	(9)
Introduction to Minitab	42	(1)
Introduction to SPSS®	43	(2)
Presenting Data in Tables and Charts	45	(54)
Organizing Numerical Data	46	(4)
Tables and Charts for Numerical Data	50	(8)
Graphing Bivariate Numerical Data	58	(3)
Tables and Charts for Categorical Data	61	(6)
Tabulating and Graphing Bivariate Categorical Data	67	(4)
Graphical Excellence	71	(28)
Summary	76	(1)
Key Terms	76	(1)
Chapter Review Problems	77	(6)
The Springville Herald Case	83	(2)
Using Microsoft Excel for Tables and Charts	85	(6)
Using Minitab for Tables and Charts	91	(3)
Using SPSS® for Tables and Charts	94	(5)
Numerical Descriptive Measures	99	(52)
Exploring Numerical Data and Their Properties	100	(1)
Measures of Central Tendency, Variation, and Shape	101	(20)
Exploratory Data Analysis	121	(5)
Obtaining Descriptive Summary Measures from a Population	126	(3)
The Coefficient of Correlation	129	(5)
Pitfalls in Numerical Descriptive Measures and Ethical Issues	134	(17)
Summary	135	(1)
Key Terms	135	(1)
Chapter Review Problems	136	(6)
The Springville Herald Case	142	(1)
Using Microsoft Excel for Descriptive Statistics	142	(4)
Using Minitab for Descriptive Statistics	146	(1)
Using SPSS® for Descriptive Statistics	147	(4)
Basic Probability	151	(24)
Basic Probability Concepts	153	(8)
Conditional Probability	161	(8)
Ethical Issues and Probability	169	(6)
Summary	170	(1)
Key Terms	171	(1)
Chapter Review Problems	171	(2)
Using Microsoft Excel for Basic Probability	173	(2)
Probability Distributions	175	(54)
The Probability Distribution for a Discrete Random Variable	176	(3)
Covariance and Its Application in Finance	179	(5)
Binomial Distribution	184	(8)
The Normal Distribution	192	(17)
Evaluating the Normality Assumption	209	(20)
Summary	217	(1)
Key Terms	217	(1)
Chapter Review Problems	218	(4)
The Springville Herald Case	222	(1)
Using Microsoft Excel for the Covariance and for Probability Distributions	223	(3)
Using Minitab with Probability Distributions	226	(3)
Sampling Distributions and Confidence Interval Estimation	229	(52)
Sampling Distributions	230	(13)
Introduction to Confidence Interval Estimation	243	(1)
Confidence Interval Estimation of the Mean (σ Known)	243	(4)
Confidence Interval Estimation of the Mean (σ Unknown)	247	(8)
Confidence Interval Estimation for the Proportion	255	(3)
Determining Sample Size	258	(7)
Confidence Interval Estimation and Ethical Issues	265	(16)
Summary	266	(1)
Key Terms	267	(1)
Chapter Review Problems	267	(5)
The Springville Herald Case	272	(2)
Using Microsoft Excel for Sampling Distributions, Confidence Intervals, and Sample Size Determination	274	(2)
Using Minitab for Sampling Distributions and Confidence Interval Estimation	276	(3)
Using SPSS® for Confidence Interval Estimation	279	(2)
Fundamentals of Hypothesis Testing: One-Sample Tests	281	(38)
Hypothesis-Testing Methodology	282	(5)
Z Test of Hypothesis for the Mean (σ Known)	287	(7)
One-Tail Tests	294	(3)
t Test of Hypothesis for the Mean (σ Unknown)	297	(6)
Z Test of Hypothesis for the Proportion	303	(4)
Potential Hypothesis-Testing Pitfalls and Ethical Issues	307	(12)
Summary	309	(2)
Key Terms	311	(1)
Chapter Review Problems	311	(3)
Using Microsoft Excel for One-Sample Tests of Hypothesis	314	(1)
Using Minitab for One-Sample Tests of Hypothesis	315	(2)
Using SPSS® for One-Sample Tests of Hypothesis	317	(2)
Hypothesis Tests for Numerical Data from Two or More Samples	319	(62)
Comparing Two Independent Samples: Tests for Differences in Two Means	320	(10)
F Test for Differences in Two Variances	330	(7)
Comparing Two Related Samples: Tests for the Mean Difference	337	(9)
The Completely Randomized Design: One-Way Analysis of Variance	346	(35)
Summary	361	(1)
Key Terms	362	(1)
Chapter Review Problems	362	(7)
Case Study: Test-Marketing and Promoting a Ball-Point Pen	369	(1)
The Springville Herald Case	370	(2)
Using Microsoft Excel for Hypothesis Tests for Numerical Data from Two or More Samples	372	(4)
Using Minitab for Hypothesis Tests for Numerical Data from Two or More Samples	376	(2)
Using SPSS® for Hypothesis Tests for Numerical Data from Two or More Samples	378	(3)
Hypothesis Tests for Categorical Data from Two or More Samples	381	(38)
Z Test for the Difference Between Two Proportions	382	(6)
χ2 Test for the Difference Between Two Proportions	388	(7)
χ2 Test for Differences in More Than Two Proportions	395	(6)
χ2 Test of Independence	401	(18)
Summary	407	(1)
Key Terms	408	(1)
Chapter Review Problems	408	(4)
The Springville Herald Case	412	(2)
Using Microsoft Excel for Hypothesis Tests for Categorical Data from Two or More Samples	414	(1)
Using Minitab for Hypothesis Tests for Categorical Data from Two or More Samples	415	(1)
Using SPSS® for Hypothesis Tests for Categorical Data from Two or More Samples	416	(3)
Simple Linear Regression	419	(66)
Types of Regression Models	420	(2)
Determining the Simple Linear Regression Equation	422	(9)
Measures of Variation	431	(5)
Assumptions	436	(1)
Residual Analysis	437	(5)
Measuring Autocorrelation: The Durbin-Watson Statistic	442	(6)
Inferences About the Slope and Correlation Coefficient	448	(7)
Estimation of Mean Values and Prediction of Individual Values	455	(4)
Pitfalls in Regression and Ethical Issues	459	(4)
Computations in Simple Linear Regression	463	(22)
Summary	469	(1)
Key Terms	469	(1)
Chapter Review Problems	469	(9)
Case Study: EastWestSide Movers	478	(1)
The Springville Herald Case	478	(1)
Using Microsoft Excel for Simple Linear Regression	479	(2)
Using Minitab for Simple Linear Regression	481	(2)
Using SPSS® for Simple Linear Regression	483	(2)
Multiple Regression	485	(80)
Developing the Multiple Regression Model	486	(9)
Residual Analysis for the Multiple Regression Model	495	(2)
Testing for the Significance of the Multiple Regression Model	497	(2)
Inferences Concerning the Population Regression Coefficients	499	(4)
Testing Portions of the Multiple Regression Model	503	(8)
The Quadratic Regression Model	511	(10)
Dummy-Variable Models	521	(12)
Using Transformations in Regression Models	533	(4)
Collinearity	537	(2)
Model Building	539	(11)
Pitfalls in Multiple Regression and Ethical Issues	550	(15)
Summary	550	(2)
Key Terms	552	(1)
Chapter Review Problems	552	(5)
Case Study: The Mountain States Potato Company	557	(1)
Using Microsoft Excel for Multiple Regression	558	(2)
Using Minitab for Multiple Regression	560	(2)
Using SPSS® for Multiple Regression	562	(3)
Time-Series Forecasting	565	(60)
The Importance of Business Forecasting	566	(1)
Component Factors of the Classical Multiplicative Time-Series Model	567	(2)
Smoothing the Annual Time Series	569	(7)
Least-Squares Trend Fitting and Forecasting	576	(15)
Autoregressive Modeling for Trend Fitting and Forecasting	591	(10)
Choosing an Appropriate Forecasting Model	601	(5)
Time-Series Forecasting of Monthly or Quarterly Data	606	(8)
Pitfalls Concerning Time-Series Forecasting	614	(11)
Summary	615	(1)
Key Terms	616	(1)
Chapter Review Problems	616	(3)
Case Study: Currency Trading	619	(1)
The Springville Herald Case	619	(1)
Using Microsoft Excel for Time-Series Forecasting	620	(2)
Using Minitab for Time-Series Forecasting	622	(1)
Using SPSS® for Time-Series Forecasting	623	(2)
Statistical Applications in Quality and Productivity Management	625	(100)
Quality and Productivity: A Historical Perspective	627	(1)
Deming's 14 Points: A Theory of Management	627	(3)
The Theory of Control Charts	630	(2)
Control Chart for the Proportion of Nonconforming Items---The p Chart	632	(6)
The Red Bead Experiment: Understanding Process Variability	638	(3)
Control Charts for the Range (R) and the Mean (X)	641	(36)
Summary	648	(1)
Key Terms	648	(1)
Chapter Review Problems	649	(4)
Case Study: The Harnswell Sewing Machine Company Case	653	(2)
The Springville Herald Case	655	(2)
Using Microsoft Excel for Control Charts	657	(1)
Using Minitab for Control Charts	658	(1)
Using SPSS® for Control Charts	659	(2)
Answers to Selected Even-Numbered Problems	661	(16)
Appendices
A. Review of Arithmetic, Alegbra, and Logarithms	677	(4)
B. Summation Notation	681	(6)
C. Statistical Symbols and Greek Alphabet	687	(2)
D. CD-ROM Contents	689	(12)
E. Tables	701	(20)
F. More About PHStat2	721	(4)
Index	725