Introduction to Business Statistics (with CD-ROM)

by Weiers, Ronald M.

• ISBN13: 9780534465216
• ISBN10: 0534465218
• Edition: CD
• Format: Hardcover
• Copyright: 2004-04-13
• Publisher: South-Western College Pub

Summary

Highly praised for its clarity and great examples, Weiers' text takes an informal, student-oriented approach to presenting fundamental statistical concepts. Non-technical terminology and outstanding illustrations explain statistical concepts presented in the context of contemporary applications and student experience. Aware that many business students are intimidated by this course, Weiers provides numerous learning aids and interesting applications drawn from real-world experience common to many students.

Table of Contents

PART ONE Business Statistics: Introduction and Background
CHAPTER 1 A Preview of Business Statistics	1	(16)
1.1 Introduction	2	(2)
PRACTITIONER PERSPECTIVE Describing Tourism at Niagara Falls	3	(1)
1.2 Statistics: Yesterday and Today	4	(2)
1.3 Descriptive versus Inferential Statistics	6	(3)
1.4 Types of Variables and Scales of Measurement	9	(3)
1.5 Statistics in Business Decisions	12	(2)
1.6 Business Statistics: Tools versus Tricks	14	(1)
1.7 Summary	14	(3)
STATISTICS IN ACTION 1.1 High Stakes on the Interstate: Car Phones and Accidents	15	(2)
CHAPTER 2 Visual Description of Data	17	(52)
2.1 Introduction	18	(1)
2.2 The Data Array and the Frequency Distribution	18	(11)
PRACTITIONER PERSPECTIVE Scoring Visual Points with InFocus	20	(9)
2.3 The Stem-and-Leaf Display and the Dotplot	29	(4)
2.4 Visual Representation of the Data	33	(14)
STATISTICS IN ACTION 2.1 These Words Are Better Than a Ninth of a Picture	45	(2)
2.5 The Scatter Diagram	47	(6)
2.6 Tabulation, Contingency Tables, and the Excel PivotTable Wizard	53	(7)
2.7 Summary	60	(9)
INTEGRATED CASES
Thorndike Sports Equipment (Meet the Thorndikes: Video Unit One)	65	(1)
Springdale Shopping Survey	66	(3)
CHAPTER 3 Statistical Description of Data	69	(52)
3.1 Introduction	70	(2)
PRACTITIONER PERSPECTIVE Statistical Descriptors and the Bureau of the Census	71	(1)
3.2 Statistical Description: Measures of Central Tendency	72	(11)
STATISTICS IN ACTION 3.1 The United States, a People of Means	75	(3)
SEEING STATISTICS APPLET 1 Influence of a Single Observation on the Median	78	(1)
STATISTICS IN ACTION 3.2 U.S. Males Post Skewed Incomes	79	(4)
3.3 Statistical Description: Measures of Dispersion	83	(10)
3.4 Additional Dispersion Topics	93	(8)
3.5 Descriptive Statistics from Grouped Data	101	(2)
3.6 Statistical Measures of Association	103	(6)
SEEING STATISTICS APPLET 2 Scatter Diagrams and Correlation	105	(3)
STATISTICS IN ACTION 3.3 The Consumer Price Index	108	(1)
3.7 Summary	109	(12)
INTEGRATED CASES
Thorndike Sports Equipment	116	(1)
Springdale Shopping Survey	117	(1)
BUSINESS CASE Baldwin Computer Sales (A)	117	(4)
CHAPTER 4 Data Collection and Sampling Methods	121	(38)
4.1 Introduction	122	(1)
4.2 Research Basics	123	(3)
PRACTITIONER PERSPECTIVE Data Collection with The Archimedes Group	124	(2)
4.3 Survey Research	126	(4)
4.4 Experimentation and Observational Research	130	(4)
4.5 Secondary Data	134	(5)
STATISTICS IN ACTION 4.1 The Optimistic Homebuilders	139	(1)
4.6 The Basics of Sampling	139	(3)
SEEING STATISTICS APPLET 3 Sampling	142	(1)
4.7 Sampling Methods	142	(11)
STATISTICS IN ACTION 4.2 Shopping for Jurors	150	(1)
STATISTICS IN ACTION 4.3 A Sample of Sampling by Giving Away Samples	151	(2)
4.8 Summary	153	(6)
INTEGRATED CASES
Thorndike Sports Equipment (Video Unit Two)	157	(1)
Thorndike Sports Equipment	157	(2)
PART TWO Probability
CHAPTER 5 Probability: Review of Basic Concepts	159	(41)
5.1 Introduction	160	(2)
PRACTITIONER PERSPECTIVE Probabilities and Insurance with Good and Associates	161	(1)
5.2 Probability: Terms and Approaches	162	(6)
STATISTICS IN ACTION 5.1 Relative Frequencies and Travel Safety	165	(3)
5.3 Unions and Intersections of Events	168	(3)
5.4 Addition Rules for Probability	171	(5)
5.5 Multiplication Rules for Probability	176	(5)
5.6 Bayes' Theorem and the Revision of Probabilities	181	(5)
5.7 Counting: Permutations and Combinations	186	(4)
STATISTICS IN ACTION 5.2 Computer Assistance in the Name Game	187	(3)
5.8 Summary	190	(10)
INTEGRATED CASES
Thorndike Sports Equipment	196	(1)
Springdale Shopping Survey	197	(1)
BUSINESS CASE Baldwin Computer Sales (B)	198	(2)
CHAPTER 6 Discrete Probability Distributions 199,
6.1 Introduction	200	(8)
PRACTITIONER PERSPECTIVE Saving Lives and Examining Data with Citizens' Ambulance	201	(5)
STATISTICS IN ACTION 6.1 The Discrete Uniform Distribution That Took a Day Off	206	(2)
6.2 The Binomial Distribution	208	(14)
6.3 The Poisson Distribution	222	(8)
STATISTICS IN ACTION 6.2 Football Injuries and the Poisson Distribution	223	(7)
6.4 Simulating Observations from a Discrete Probability Distribution	230	(5)
6.5 Summary	235	(6)
INTEGRATED CASE Thorndike Sports Equipment	239	(2)
CHAPTER 7 Continuous Probability Distributions	241	(44)
7.1 Introduction	242	(2)
PRACTITIONER PERSPECTIVE Navigating Normal Curves with Thorndike Sports Equipment	243	(1)
7.2 The Normal Distribution	244	(5)
SEEING STATISTICS APPLET 4 Size and Shape of Normal Distribution	247	(2)
7.3 The Standard Normal Distribution	249	(13)
STATISTICS IN ACTION 7.1 SAT Math Scores and the Normal Distribution	250	(4)
SEEING STATISTICS APPLET 5 Normal Distribution Areas	254	(8)
7.4 The Normal Approximation to the Binomial Distribution	262	(7)
SEEING STATISTICS APPLET 6 Normal Approximation to the Binomial Distribution	267	(2)
7.5 The Exponential Distribution	269	(6)
7.6 Simulating Observations from a Continuous Probability Distribution	275	(3)
7.7 Summary	278	(7)
INTEGRATED CASES
Thorndike Sports Equipment (Video Unit Three)	283	(1)
Thorndike Golf Products Division	283	(2)
PART THREE Sampling Distributions and Estimation
CHAPTER 8 Sampling Distributions	285	(28)
8.1 Introduction	286	(1)
8.2 A Preview of Sampling Distributions	287	(2)
8.3 The Sampling Distribution of the Mean	289	(10)
SEEING STATISTICS APPLET 7 Distribution of Means: Fair Dice	294	(2)
SEEING STATISTICS APPLET 8 Distribution of Means: Loaded Dice	296	(3)
8.4 The Sampling Distribution of the Proportion	299	(3)
8.5 Sampling Distributions When the Population Is Finite	302	(2)
8.6 Computer Simulation of Sampling Distributions	304	(3)
8.7 Summary	307	(6)
INTEGRATED CASE Thorndike Sports Equipment	312	(1)
CHAPTER 9 Estimation from Sample Data	313	(48)
9.1 Introduction	314	(2)
PRACTITIONER PERSPECTIVE Estimation Relies on Sound Sampling Frame at Survey Sampling, Inc.	315	(1)
9.2 Point Estimates	316	(1)
9.3 A Preview of Interval Estimates	317	(4)
9.4 Confidence Interval Estimates for the Mean: a Known	321	(6)
SEEING STATISTICS APPLET 9 Confidence Interval Size	323	(4)
9.5 Confidence Interval Estimates for the Mean: 6 Unknown	327	(10)
SEEING STATISTICS APPLET 10 Comparing the Normal and Student t Distributions 330
SEEING STATISTICS APPLET 11 Student t Distribution Areas	333	(4)
9.6 Confidence Interval Estimates for the Population Proportion	337	(5)
9.7 Sample Size Determination	342	(6)
STATISTICS IN ACTION 9.1 Sampling Error in Survey Research	346	(2)
9.8 When the Population Is Finite	348	(4)
9.9 Summary	352	(9)
INTEGRATED CASES
Thorndike Sports Equipment (Video Unit Four)	358	(1)
Springdale Shopping Survey	359	(2)
PART FOUR Hypothesis Testing
CHAPTER 10 Hypothesis Tests Involving a Sample Mean or Proportion	361	(62)
10.1 Introduction	362	(6)
PRACTITIONER PERSPECTIVE Products Are Tested Extensively Before Receiving the Underwriters Laboratories Mark	363	(5)
10.2 Hypothesis Testing: Basic Procedures	368	(3)
10.3 Testing a Mean, Population Standard Deviation Known	371	(11)
10.4 Confidence Intervals and Hypothesis Testing	382	(2)
SEEING STATISTICS APPLET 12 z-Interval and Hypothesis Testing	383	(1)
10.5 Testing a Mean, Population Standard Deviation Unknown	384	(9)
10.6 Testing a Proportion	393	(9)
10.7 The Power of a Hypothesis Test	402	(10)
SEEING STATISTICS APPLET 13 Statistical Power of a Test	411	(1)
10.8 Summary	412	(11)
INTEGRATED CASES
Thorndike Sports Equipment	417	(1)
Springdale Shopping Survey	418	(1)
BUSINESS CASE Pronto Pizza (A)	419	(4)
CHAPTER 11 Hypothesis Tests Involving Two Sample Means or Proportions	423	(56)
11.1 Introduction	424	(3)
PRACTITIONER PERSPECTIVE Comparing Sample Means and Proportions at Eddie Bauer	425	(2)
11.2 The Pooled-Variances t -Test for Comparing the Means of Two Independent Samples	427	(7)
11.3 The Unequal-Variances t -Test for Comparing the Means of Two Independent Samples	434	(7)
11.4 The z-Test for Comparing the Means of Two Independent Samples	441	(7)
SEEING STATISTICS APPLET 14 Distribution of Difference Between Sample Means	444	(4)
11.5 Comparing Two Means When the Samples Are Dependent	448	(6)
11.6 Comparing Two Sample Proportions	454	(8)
STATISTICS IN ACTION 11.1 Looking for Mechanical Predators	458	(4)
11.7 Comparing the Variances of Two Independent Samples	462	(5)
11.8 Summary	467	(12)
INTEGRATED CASES
Thorndike Sports Equipment	474	(1)
Springdale Shopping Survey	474	(1)
BUSINESS CASE Circuit Systems, Inc. (A)	475	(4)
CHAPTER 12 Analysis of Variance Tests	479	(66)
12.1 Introduction	480	(1)
12.2 Analysis of Variance: Basic Concepts	480	(5)
PRACTITIONER PERSPECTIVE Main and Interaction Effects Are Important at Intel	481	(4)
12.3 One-Way Analysis of Variance	485	(17)
SEEING STATISTICS APPLET 15 F Distribution and ANOVA	494	(8)
12.4 The Randomized Block Design	502	(14)
12.5 Two-Way Analysis of Variance	516	(17)
SEEING STATISTICS APPLET 16 Interaction Graph in Two-Way ANOVA	530	(3)
12.6 Summary	533	(12)
INTEGRATED CASES
Thorndike Sports Equipment (Video Unit Six)	539	(1)
Springdale Shopping Survey	540	(1)
BUSINESS CASE Fastest Courier in the West	541	(4)
CHAPTER 13 Chi-Square Applications	545	(46)
13.1 Introduction	546	(1)
13.2 Basic Concepts in Chi-Square Testing	546	(1)
PRACTITIONER PERSPECTIVE Using Chi-Square Tests at Walker Information	547	(3)
SEEING STATISTICS APPLET 17 Chi-Square Distribution	550	(2)
13.3 Tests for Goodness of Fit and Normality	552	(11)
13.4 Testing the Independence of Two Variables	563	(4)
STATISTICS IN ACTION 13.1 Network Popularity Comparison	567	(4)
13.5 Comparing Proportions from k Independent Samples	571	(5)
13.6 Estimation and Tests Regarding the Population Variance	576	(6)
13.7 Summary	582	(6)
INTEGRATED CASES
Thorndike Sports Equipment	588	(1)
Springdale Shopping Survey	589	(1)
BUSINESS CASE Baldwin Computer Sales (C)	590	(1)
CHAPTER 14 Nonparametric Methods	591	(48)
14.1 Introduction	592	(2)
14.2 Wilcoxon Signed Rank Test for One Sample	594	(5)
14.3 Wilcoxon Signed Rank Test for Comparing Paired Samples	599	(9)
14.4 Wilcoxon Rank Rum Test for Comparing Two Independent Samples 603
14.5 Kruskal-Wallis Test for Comparing More Than Two Independent Samples	608	(4)
14.6 Friedman Test for the Randomized Block Design	612	(5)
14.7 Other Nonparametric Methods	617	(14)
14.8 Summary	631	(8)
INTEGRATED CASES
Thorndike Sports Equipment	636	(1)
Springdale Shopping Survey	637	(1)
BUSINESS CASE Circuit Systems, Inc. (B)	638	(1)
PART FIVE Regression, Model Building, and Time Series
CHAPTER 15 Simple Linear Regression and Correlation	639	(54)
15.1 Introduction	640	(2)
PRACTITIONER PERSPECTIVE Statistics and Regression Analysis with Duxbury/Thomson Learning	641	(1)
15.2 The Simple Linear Regression Model	642	(8)
SEEING STATISTICS APPLET 18 Regression: Point Estimate for y	647	(3)
15.3 Interval Estimation Using the Sample Regression Line	650	(7)
15.4 Correlation Analysis	657	(6)
SEEING STATISTICS APPLET 19 Point Insertion Diagram and Correlation	658	(3)
SEEING STATISTICS APPLET 20 Regression Error Components	661	(2)
15.5 Estimation and Tests Regarding the Sample Regression Line	663	(7)
STATISTICS IN ACTION 15.1 The Beta Coefficient and Investment Decisions	666	(4)
15.6 Additional Topics in Regression and Correlation Analysis	670	(9)
STATISTICS IN ACTION 15.2 Major League Baseball: Does Money Really Win Games?	677	(2)
15.7 Summary	679	(14)
INTEGRATED CASES
Thorndike Sports Equipment	690	(1)
Springdale Shopping Survey	691	(1)
BUSINESS CASE Pronto Pizza (B)	692	(1)
CHAPTER 16 Multiple Regression and Correlation	693	(52)
16.1 Introduction	694	(2)
PRACTITIONER PERSPECTIVE Multiple Regression with the NCAA	695	(1)
16.2 The Multiple Regression Model	696	(7)
16.3 Interval Estimation in Multiple Regression	703	(7)
16.4 Multiple Correlation Analysis	710	(3)
16.5 Significance Tests in Multiple Regression and Correlation	713	(5)
16.6 Overview of the Computer Analysis and Interpretation	718	(10)
STATISTICS IN ACTION 16.1 Predicting Holiday Traffic Fatalities	721	(7)
16.7 Additional Topics in Multiple Regression and Correlation	728	(4)
16.8 Summary	732	(13)
INTEGRATED CASES
Thorndike Sports Equipment	738	(1)
Springdale Shopping Survey	739	(1)
BUSINESS CASES
Easton Realty Company (A)	740	(3)
Circuit Systems, Inc. (C)	743	(2)
CHAPTER 17 Model Building	745	(50)
17.1 Introduction	746	(1)
17.2 Polynomial Models with One Quantitative Predictor Variable	746	(10)
PRACTITIONER PERSPECTIVE Model Building with Research International USA	748	(8)
17.3 Polynomial Models with Two Quantitative Predictor Variables	756	(6)
17.4 Qualitative Variables	762	(5)
17.5 Data Transformations	767	(3)
17.6 Multicollinearity	770	(3)
17.7 Stepwise Regression	773	(7)
STATISTICS IN ACTION 17.1 Stepwise Regression and the NFL Passer Rating	777	(3)
17.8 Selecting a Model	780	(2)
17.9 Summary	782	(13)
INTEGRATED CASES
Thorndike Sports Equipment	786	(1)
Fast-Growing Companies	787	(1)
BUSINESS CASES
Westmore MBA Program	788	(6)
Easton Realty Company (B)	794	(1)
CHAPTER 18 Models for Time Series and Forecasting	795	(60)
18.1 Introduction	796	(1)
18.2 Time Series	796	(8)
PRACTITIONER PERSPECTIVE Retirees Depend on Cost-of-Living Adjustments to Fight Inflation	797	(1)
STATISTICS IN ACTION 18.1 Global Temperatures: A 100,000-Year Cycle	798	(6)
18.3 Smoothing Techniques	804	(11)
18.4 Seasonal Indexes	815	(7)
18.5 Forecasting	822	(5)
18.6 Evaluating Alternative Models: MAD and MSE	827	(2)
18.7 Autocorrelation, the Durbin-Watson Test, and Autoregressive Forecasting	829	(10)
18.8 Index Numbers	839	(6)
STATISTICS IN ACTION 18.2 The CPI Time Machine	843	(2)
18.9 Summary	845	(10)
INTEGRATED CASES
Thorndike Sports Equipment (Video Unit Five)	853	(1)
National Safety Council	854	(1)
PART SIX Special Topics
CHAPTER 19 Decision Theory	855	(28)
19.1 Introduction	856	(1)
19.2 Structuring the Decision Situation	857	(4)
PRACTITIONER PERSPECTIVE Making Decisions with CompAS Controls, Inc.	857	(1)
STATISTICS IN ACTION 19.1 New Technology Makes Invention Hit Bottom	858	(3)
19.3 Non-Bayesian Decision Making	861	(3)
19.4 Bayesian Decision Making	864	(6)
STATISTICS IN ACTION 19.2 Expected Payoff, Maximax, and the Lottery	867	(3)
19.5 The Opportunity Loss Approach	870	(1)
19.6 Incremental Analysis and Inventory Decisions	871	(4)
19.7 Summary	875	(3)
INTEGRATED CASE Thorndike Sports Equipment (Video Unit Seven)	877	(1)
Appendix to Chapter 19: The Expected Value of Imperfect Information	878	(5)
CHAPTER 20 Total Quality Management	883
20.1 Introduction	884	(4)
PRACTITIONER PERSPECTIVE Practicing TQM at Ben & Jerry's Homemade	885	(3)
20.2 A Historical Perspective and Defect Detection	888	(1)
20.3 The Emergence of Total Quality Management	889	(3)
20.4 Practicing Total Quality Management	892	(5)
STATISTICS IN ACTION 20.1 Quality Circles and the "Suggestion Box"	896	(1)
20.5 Some Statistical Tools for Total Quality Management	897	(6)
20.6 Statistical Process Control: The Concepts 902
20.7 Control Charts for Variables	903	(12)
SEEING STATISTICS APPLET 21 Mean Control Chart	913	(2)
20.8 Control Charts for Attributes	915	(8)
20.9 More on Computer-Assisted Statistical Process Control	923	(2)
20.10 Summary	925	(8)
INTEGRATED CASES
Thorndike Sports Equipment	930	(1)
Willard Bolt Company	931	(2)
Appendix A: Statistical Tables	933	(36)
Appendix B: Selected Answers	969	(4)
Index/Glossary	973	(3223652)
CHAPTER 21 Ethics in Statistical Analysis and Reporting
CD Appendix 6A: The Hypergeometric Distribution