Statistics for Business and Economics and Student CD

by Newbold, Paul; Carlson, William; Thorne, Betty

• ISBN13: 9780132203845
• ISBN10: 0132203847
• Edition: 6th
• Format: Hardcover
• Copyright: 2010-01-01
• Publisher: Pearson College Div

Summary

This classic text is known for its accuracy and statistical precision. This text enables students to conduct serious analysis of applied problems in contrast to merely running simple"canned" applications to help students become stronger analysts and future managers. It is also at a mathematically higher level than most business statistics texts.

Table of Contents

Preface	xix
Why Study Statistics?	1	(8)
Decision Making in an Uncertain Environment	2	(1)
Sampling	3	(1)
Descriptive and Inferential Statistics	4	(5)
Describing Data	5	(1)
Making Inferences	5	(4)
Describing Data: Graphical	9	(37)
Classification of Variables	10	(3)
Categorical or Numerical	10	(1)
Measurement Levels	11	(2)
Graphs to Describe Categorical Variables	13	(7)
Tables	13	(1)
Bar Charts and Pie Charts	14	(2)
Pareto Diagrams	16	(4)
Graphs to Describe Time-Series Data	20	(3)
Graphs to Describe Numerical Variables	23	(8)
Frequency Distributions	23	(4)
Histograms and Ogives	27	(2)
Stem-and-Leaf Displays	29	(2)
Tables and Graphs to Describe Relationships Between Variables	31	(7)
Scatter Plots	32	(1)
Cross Tables	33	(5)
Data Presentation Errors	38	(8)
Misleading Histograms	38	(2)
Misleading Time-Series Plots	40	(6)
Describing Data: Numerical	46	(32)
Measures of Central Tendency	46	(5)
Mean, Median, Mode	46	(3)
Shape of the Distribution	49	(2)
Measures of Variability	51	(9)
Range and Interquartile Range	52	(1)
Variance and Standard Deviation	53	(2)
Chebychev's Theorem and the Empirical Rule	55	(2)
Coefficient of Variation	57	(3)
Weighted Mean and Measures of Grouped Data	60	(5)
Measures of Relationships Between Variables	65	(5)
Obtaining Linear Relationships	70	(8)
Probability	78	(56)
Random Experiment, Outcomes, Events	79	(8)
Probability and Its Postulates	87	(9)
Classical Probability	88	(2)
Relative Frequency	90	(1)
Subjective Probability	91	(5)
Probability Rules	96	(13)
Conditional Probability	99	(3)
Statistical Independence	102	(7)
Bivariate Probabilities	109	(11)
Odds	113	(1)
Overinvolvement Ratios	114	(6)
Bayes' Theorem	120	(14)
Discrete Random Variables and Probability Distributions	134	(53)
Random Variables	135	(2)
Probability Distributions for Discrete Random Variables	137	(3)
Properties of Discrete Random Variables	140	(10)
Expected Value of a Discrete Random Variable	140	(2)
Variance of a Discrete Random Variable	142	(3)
Mean and Variance of Linear Functions of a Random Variable	145	(5)
Binomial Distribution	150	(8)
Hypergeometric Distribution	158	(2)
The Poisson Probability Distribution	160	(6)
Poisson Approximation to the Binomial Distribution	163	(1)
Comparison of the Poisson and Binomial Probability Distributions	164	(2)
Jointly Distributed Discrete Random Variables	166	(21)
Computer Applications	170	(1)
Covariance	170	(1)
Correlation	171	(3)
Linear Functions of Random Variables	174	(2)
Portfolio Analysis	176	(11)
Continuous Random Variables and Probability Distributions	187	(45)
Continuous Random Variables	188	(6)
The Uniform Distribution	191	(3)
Expectations for Continuous Random Variables	194	(3)
The Normal Distribution	197	(13)
Normal Probability Plots	205	(5)
Normal Distribution Approximation for Binomial Distribution	210	(6)
Proportion Random Variable	214	(2)
The Exponential Distribution	216	(3)
Jointly Distributed Continuous Random Variables	219	(13)
Linear Combinations of Random Variables	222	(10)
Sampling and Sampling Distributions	232	(43)
Sampling from a Population	233	(5)
Sampling Distributions of Sample Means	238	(16)
Central Limit Theorem	243	(5)
Acceptance Intervals	248	(6)
Sampling Distributions of Sample Proportions	254	(6)
Sampling Distributions of Sample Variances	260	(15)
Estimation: Single Population	275	(28)
Properties of Point Estimators	276	(6)
Unbiased Estimator	277	(1)
Consistent Estimator	278	(1)
Efficient Estimator	279	(3)
Confidence Intervals for the Mean: Population Variance Known	282	(107)
Intervals Based on the Normal Distribution	284	(3)
Reducing Margin of Error	287	(102)
Confidence Intervals for the Mean: Population Variance Unknown	389
Student's t Distribution	389
Intervals Based on the Student's t Distribution	291	(4)
Confidence Intervals for Population Proportion (Large Samples)	295	(8)
Estimation: Additional Topics	303	(27)
Confidence Intervals for the Difference Between Two Normal Population Means	304	(5)
Dependent Samples	304	(2)
Independent Samples, Known Population Variances	306	(3)
Confidence Intervals for the Difference Between Two Normal Population Means with Population Variances Unknown	309	(6)
Independent Samples, Population Variances Assumed to be Equal	309	(3)
Independent Samples, Population Variances Not Assumed to be Equal	312	(3)
Confidence Intervals for the Difference Between Two Population Proportions (Large Samples)	315	(2)
Confidence Intervals for the Variance of a Normal Distribution	317	(4)
Sample Size Determination	321	(9)
Mean of a Normally Distributed Population, Known Population Variance	321	(2)
Population Proportion	323	(7)
Hypothesis Testing	330	(37)
Concepts of Hypothesis Testing	331	(6)
Tests of the Mean of a Normal Distribution: Population Variance Known	337	(11)
p-Value	339	(6)
Two-Sided Alternative Hypothesis	345	(3)
Tests of the Mean of a Normal Distribution: Population Variance Unknown	348	(4)
Tests of the Population Proportion (Large Samples)	352	(3)
Assessing the Power of a Test	355	(12)
Tests of the Mean of a Normal Distribution: Population Variance Known	356	(2)
Power of Population Proportion Tests (Large Samples)	358	(9)
Hypothesis Testing II	367	(35)
Tests of the Difference Between Two Population Means	369	(12)
Two Means, Matched Pairs	369	(3)
Two Means, Independent Samples, Known Population Variances	372	(3)
Two Means, Independent Samples, Unknown Population Variances Assumed to Be Equal	375	(3)
Two Means, Independent Samples, Unknown Population Variances Assumed to Be Not Equal	378	(3)
Tests of the Difference Between Two Population Proportions (Large Samples)	381	(4)
Tests of the Variance of a Normal Distribution	385	(4)
Tests of the Equality of the Variances Between Two Normally Distributed Populations	389	(4)
Some Comments on Hypothesis Testing	393	(9)
Simple Regression	402	(52)
Correlation Analysis	403	(4)
Hypothesis Test for Correlation	404	(3)
Linear Regression Model	407	(6)
Least Squares Coefficient Estimators	413	(5)
Computer Computation of Regression Coefficient	416	(2)
The Explanatory Power of a Linear Regression Equation	418	(8)
Coefficient of Determination R2	421	(5)
Statistical Inference: Hypothesis Tests and Confidence Intervals	426	(9)
Hypothesis Test for Population Slope Coefficient Using the F Distribution	433	(2)
Prediction	435	(6)
Graphical Analysis	441	(13)
Multiple Regression	454	(84)
The Multiple Regression Model	455	(8)
Model Specification	456	(2)
Model Development	458	(3)
Three-Dimensional Graphing	461	(2)
Estimation of Coefficients	463	(7)
Least Squares Procedure	464	(6)
Explanatory Power of a Multiple Regression Equation	470	(7)
Confidence Intervals and Hypothesis Tests for Individual Regression Coefficients	477	(13)
Confidence Intervals	479	(2)
Tests of Hypotheses	481	(9)
Tests on Regression Coefficients	490	(8)
Test on All Coefficients	491	(2)
Test on a Subset of Regression Coefficients	493	(1)
Comparison of F and t Tests	494	(4)
Prediction	498	(2)
Transformations for Nonlinear Regression Models	500	(9)
Quadratic Transformations	501	(3)
Logarithmic Transformations	504	(5)
Dummy Variables for Regression Models	509	(8)
Differences in Slope	513	(4)
Multiple Regression Analysis Application Procedure	517	(21)
Model Specification	518	(2)
Multiple Regression	520	(2)
Effect of Dropping a Statistically Significant Variable	522	(1)
Analysis of Residuals	523	(15)
Additional Topics in Regression Analysis	538	(48)
Model-Building Methodology	539	(3)
Model Specification	539	(1)
Coefficient Estimation	540	(1)
Model Verification	541	(1)
Model Interpretation and Inference	542	(1)
Dummy Variables and Experimental Design	542	(11)
Experimental Design Models	546	(7)
Lagged Values of the Dependent Variables as Regressors	553	(4)
Specification Bias	557	(4)
Multicollinearity	561	(3)
Heteroscedasticity	564	(5)
Autocorrelated Errors	569	(17)
Estimation of Regressions with Autocorrelated Errors	573	(4)
Autocorrelated Errors in Models with Lagged Dependent Variables	577	(9)
Nonparametric Statistics	586	(26)
Sign Test and Confidence Interval	587	(8)
Sign Test for Paired or Matched Samples	587	(3)
Normal Approximation	590	(2)
Sign Test for Single Population Median	592	(1)
Confidence Interval for the Median	593	(2)
Wilcoxon Signed Rank Test	595	(5)
Minitab (Wilcoxon Signed Rank Test)	596	(1)
Normal Approximation	597	(3)
Mann-Whitney U Test	600	(4)
Wilcoxon Rank Sum Test	604	(3)
Spearman Rank Correlation	607	(5)
Goodness-of-Fit Tests and Contingency Tables	612	(22)
Goodness-of-Fit Tests: Specified Probabilities	613	(4)
Goodness-of-Fit Tests: Population Parameters Unknown	617	(5)
A Test of Normality	619	(3)
Contingency Tables	622	(12)
Computer Applications	626	(8)
Analysis of Variance	634	(43)
Comparison of Several Population Means	635	(2)
One-Way Analysis of Variance	637	(10)
Population Model for One-Way Analysis of Variance	644	(3)
The Kruskal-Wallis Test	647	(3)
Two-Way Analysis of Variance: One Observation per Cell, Randomized Blocks	650	(11)
Two-Way Analysis of Variance: More Than One Observation per Cell	661	(16)
Introduction to Quality	677	(33)
The Importance of Quality	678	(4)
Quality Leaders	678	(2)
Variation	680	(2)
Control Charts for Means and Standard Deviations	682	(11)
An Estimate of the Process Standard Deviation	683	(3)
Control Charts for Means	686	(2)
Control Charts for Standard Deviations	688	(1)
Interpretation of Control Charts	689	(4)
Process Capability	693	(4)
Control Chart for Proportions	697	(4)
Control Charts for Number of Occurrences	701	(9)
Time-Series Analysis and Forecasting	710	(46)
Index Numbers	712	(9)
Price Index for a Single Item	713	(1)
Unweighted Aggregate Price Index	714	(1)
Weighted Aggregate Price Index	715	(2)
Weighted Aggregate Quantity Index	717	(1)
Change in Base Period	718	(3)
A Nonparametric Test for Randomness	721	(3)
Components of a Time Series	724	(3)
Moving Averages	727	(9)
Extraction of the Seasonal Component through Moving Averages	729	(7)
Exponential Smoothing	736	(11)
The Holt-Winters Exponential Smoothing Forecasting Model	738	(5)
Forecasting Seasonal Time Series	743	(4)
Autoregressive Models	747	(5)
Autoregressive Integrated Moving Average Models	752	(4)
Additional Topics in Sampling	756	(42)
Basic Steps of a Sampling Study	758	(4)
What Information Is Required?	758	(1)
What Is the Relevant Population, and Is a Listing of It Available?	758	(1)
How Should the Sample Members Be Selected?	759	(1)
How Should Information Be Obtained from the Sample Members?	759	(2)
How Should Sample Information Be Used to Make Inferences About the Population?	761	(1)
What Conclusions Can Be Drawn About the Population?	761	(1)
Sampling and Nonsampling Errors	762	(1)
Simple Random Sampling	763	(6)
Analysis of Results from Simple Random Sampling	764	(5)
Stratified Sampling	769	(12)
Analysis of Results from Stratified Random Sampling	771	(6)
Allocation of Sample Effort Among Strata	777	(4)
Determining Sample Size	781	(6)
Sample Sizes for Simple Random Sampling: Estimation of Population Mean or Total	782	(1)
Sample Sizes for Simple Random Sampling: Estimation of Population Proportion	783	(1)
Sample Sizes for Stratified Random Sampling with Specified Degree of Precision	784	(3)
Other Sampling Methods	787	(11)
Cluster Sampling	787	(4)
Two-Phase Sampling	791	(2)
Nonprobabilistic Sampling Methods	793	(5)
Statistical Decision Theory	798	(83)
Decision Making Under Uncertainty	799	(3)
Solutions Not Involving Specification of Probabilities Maximin Criterion	802	(5)
Minimax Regret Criterion	802	(1)
Maximin Criterion	803	(2)
Minimax Regret Criterion	805	(2)
Expected Monetary Value; TreePlan	807	(11)
Decision Trees	809	(2)
Using TreePlan to Solve a Decision Tree	811	(3)
Sensitivity Analysis	814	(4)
Sample Information: Bayesian Analysis and Value	818	(13)
Use of Bayes' Theorem	818	(5)
The Value of Sample Information	823	(3)
The Value of Sample Information Viewed by Means of Decision Trees	826	(5)
Allowing for Risk: Utility Analysis	831	(10)
The Concept of Utility	832	(4)
Expected Utility Criterion for Decision Making	836	(5)
APPENDIX TABLES
Cumulative Distribution Function of the Standard Normal Distribution	841	(2)
Probability Function of the Binomial Distribution	843	(5)
Cumulative Binomial Probabilities	848	(4)
Values of e-λ	852	(1)
Individual Poisson Probabilities	853	(8)
Cumulative Poisson Probabilities	861	(8)
Cutoff Points of the Chi-Square Distribution Function	869	(1)
Cutoff Points for the Student's t Distribution	870	(1)
Cutoff Points for the F Distribution	871	(3)
Cutoff Points for the Distribution of the Wilcoxon Test Statistic	874	(1)
Cutoff Points for the Distribution of Spearman Rank Correlation Coefficient	875	(1)
Cutoff Points for the Distribution of the Durbin-Watson Test Statistic	876	(2)
Factors for Control Charts	878	(1)
Cumulative Distribution Function of the Runs Test Statistic	879	(2)
Answers to Selected Even-Numbered Exercises	881
Index	1