Essentials of Business Statistics and Student CD-ROM

by Evans, James R.

• ISBN13: 9780130784216
• ISBN10: 0130784214
• Edition: CD
• Format: Paperback w/CD
• Copyright: 2003-01-01
• Publisher: Pearson College Div

Summary

Covers the basic concepts of business statistics and data analysis integrated in a contemporary spreadsheet environment. For an understanding of business statistics and how to solve business problems related to this subject matter. Softcover. CD-ROM included.

Table of Contents

Data and Business Decisions	1	(27)
Displaying and Summarizing Data	28	(43)
Random Variables and Probability Distributions	71	(42)
Sampling and Statistical Inference	113	(57)
Regression Analysis	170	(40)
Forecasting	210	(34)
Statistical Quality Control	244	(27)
Risk Analysis and Monte Carlo Simulation	271	(38)
Appendix	309	(14)
Index	323

Excerpts

In recent years, we have seen a rather significant trend in business schools as Microsoft Excel and other spreadsheet add-ins have become the principal tool for applications of quantitative methods.Essentials of Business Statisticsis written to meet the need for an introductory text that provides a basic introduction to business statistics, focusing on practical applications of data analysis. To support this purpose, I have integrated fundamental theory and practical applications in a spreadsheet environment. Spreadsheet add-ins, specificallyPHStat--a collection of statistical tools that enhance the capabilities of Excel, published by Prentice-Hall, and the student version ofCrystal Ball(includingCB Predictorfor forecasting) are used for additional analysis capability. Among the features provided in this book are: A complete coverage of important statistical topics, aligned with the capabilities ofPHStat2, An assortment of data sets for both illustrative examples and problems, Many problems and exercises from a variety of disciplines, and Exercises and case problems at the end of each chapter. The book consists of eight chapters. Chapter 1,Data and Business Decisions,describes the importance of, and types of data used in, business decision making. This chapter also provides the foundation for working with Excel and other add-ins, and introduces some fundamental concepts of measurement and sample data, basic Excel skills, including PivotTables. Chapter 2,Displaying and Summarizing Data,focuses on data visualization and descriptive statistics. Chapter 3,Random Variables and Probability Distributions,introduces basic concepts of probability and probability distributions, random sampling, sampling distributions, and sampling error. Crystal Ball is introduced and used as a tool for simulating sampling distributions to gain insight into their nature. Chapter 4,Sampling and Statistical Inference,addresses sampling methods, statistical analysis of sample data, estimation, and hypothesis testing. It also provides an introduction to analysis of variance and distribution fitting using Crystal Ball. Chapter 5,Regression Analysis,introduces fundamental concepts and methods of both single and multiple regression. Chapter 6,Forecasting,discusses both qualitative and quantitative forecasting methods. These include statistical time series models and applications of regression analysis to forecasting. The topics are arranged to facilitate the use ofCBPredictoras an Excel-based tool. Chapter 7,Statistical Quality Control,develops some applications of statistical concepts presented in the previous chapters to the design and use of control charts and process capability studies. Chapter 8,Risk Analysis and Monte Carlo Simulation,introduces Monte Carlo Simulation and its applications to risk analysis. Throughout the book I have placed "Notes" for Excel,PHStat,andCrystal Ballthat provide procedural details of using specific functions, tools, or techniques. These provide key information for the student to apply the tools, but do not disrupt from the flow of the discussion. The CD-ROM accompanying this book contains all the data and model files used throughout the book,PHStat,and the student version ofCrystal Ball.