Statistics for Managers Using Microsoft Excel

by Levine, David M.; Stephan, David F.; Szabat, Kathryn A.

• ISBN13: 9780134173054
• ISBN10: 0134173058
• Additional ISBN(s): 9780132295451, 9780135969854
• Edition: 8th
• Format: Hardcover
• Copyright: 2016-01-21
• Publisher: Pearson
• More Book Details

Summary

For one- or two-semester business statistics courses.
 

Analyzing the Data Applicable to Business

This text is the gold standard for learning how to use Microsoft Excel^® in business statistics, helping students gain the understanding they need to be successful in their careers. The authors present statistics in the context of specific business fields; full chapters on business analytics further prepare students for success in their professions. Current data throughout the text lets students practice analyzing the types of data they will see in their professions. The friendly writing style include tips throughout to encourage learning.

 

The book also integrates PHStat, an add-in that bolsters the statistical functions of Excel.

 

Also available with MyStatLab™

MyStatLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them absorb course material and understand difficult concepts.

Note: You are purchasing a standalone product; MyLab^™ & Mastering^™ does not come packaged with this content. Students, if interested in purchasing this title with MyLab & Mastering, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.

 

If you would like to purchase both the physical text and MyLab & Mastering, search for:

0134465970 / 9780134465975 Statistics for Managers Using Microsoft Excel Plus MyStatLab with Pearson eText -- Access Card Package, 8/e

Package consists of:

• 0134173058 / 9780134173054 Statistics for Managers Using Microsoft Excel
• 032192147X / 9780321921475 MyStatLab for Business Statistics -- Glue-In Access Card
• 0321929713 / 9780321929716 MyStatLab for Business Statistics Sticker

Author Biography

David M. Levine is Professor Emeritus of Statistics and Computer Information Systems at Baruch College (City University of New York). He received B.B.A. and M.B.A. degrees in statistics from City College of New York and a Ph.D. from New York University in industrial engineering and operations research. He is nationally recognized as a leading innovator in statistics education and is the co-author of 14 books, including such best-selling statistics textbooks as Statistics for Managers Using Microsoft Excel, Basic Business Statistics: Concepts and Applications, Business Statistics: A First Course, and Applied Statistics for Engineers and Scientists Using Microsoft Excel and Minitab.

 

He also is the co-author of Even You Can Learn Statistics: A Guide for Everyone Who Has Ever Been Afraid of Statistics, currently in its second edition, Six Sigma for Green Belts and Champions and Design for Six Sigma for Green Belts and Champions, and the author of Statistics for Six Sigma Green Belts, all published by FT Press, a Pearson imprint, and Quality Management, third edition, McGraw-Hill/Irwin. He is also the author of Video Review of Statistics and Video Review of Probability, both published by Video Aided Instruction, and the statistics module of the MBA primer published by Cengage Learning. He has published articles in various journals, including Psychometrika, The American Statistician, Communications in Statistics, Decision Sciences Journal of Innovative Education, Multivariate Behavioral Research, Journal of Systems Management, Quality Progress, and The American Anthropologist, and he has given numerous talks at the Decision Sciences Institute (DSI), American Statistical Association (ASA), and Making Statistics More Effective in Schools and Business (MSMESB) conferences. Levine has also received several awards for outstanding teaching and curriculum development from Baruch College.

 

David F. Stephan is an independent instructional technologist. He was an Instructor/Lecturer of Computer Information Systems at Baruch College (City University of New York) for over 20 years and also served as an Assistant to the Provost and to the Dean of the School of Business & Public Administration for computing. He pioneered the use of computer classrooms for business teaching, devised interdisciplinary multimedia tools, and created techniques for teaching computer applications in a business context. He also conducted the first large-scale controlled experiment to show the benefit of teaching Microsoft Excel in a business case context to undergraduate students.

 

An avid developer, he created multimedia courseware while serving as the Assistant Director of a Fund for the Improvement of Postsecondary Education (FIPSE) project at Baruch College. Stephan is also the originator of PHStat, the Pearson Education statistical add-in for Microsoft Excel and a co-author of Even You Can Learn Statistics: A Guide for Everyone Who Has Ever Been Afraid of Statistics and Practical Statistics by Example Using Microsoft Excel and Minitab. He is currently developing ways to extend the instructional materials that he and his co-authors develop to mobile and cloud computing platforms as well as develop social-media facilitated means to support learning in introductory business statistics courses.

 

Stephan received a B.A. in geology from Franklin and Marshall College and a M.S. in computer methodology from Baruch College (City University of New York).

 

Kathryn A. Szabat is Associate Professor and Chair of Business Systems and Analytics at LaSalle University. She teaches undergraduate and graduate courses in business statistics and operations management. She also teaches as Visiting Professor at the Ecole Superieure de Commerce et de Management (ESCEM) in France.

 

Szabat’s research has been published in International Journal of Applied Decision Sciences, Accounting Education, Journal of Applied Business and Economics, Journal of Healthcare Management, and Journal of Management Studies. Scholarly chapters have appeared in Managing Adaptability, Intervention, and People in Enterprise Information Systems; Managing, Trade, Economies and International Business; Encyclopedia of Statistics in Behavioral Science; and Statistical Methods in Longitudinal Research.

 

Szabat has provided statistical advice to numerous business, non-business, and academic communities. Her more recent involvement has been in the areas of education, medicine, and nonprofit capacity building.

 

Szabat received a B.S. in mathematics from State University of New York at Albany and M.S. and Ph.D. degrees in statistics, with a cognate in operations research, from the Wharton School of the University of Pennsylvania.

 

 

 

Table of Contents

First Things First

                  USING STATISTICS: “The Price of Admission”

FTF.1 Think Differently About Statistics

FTF.2 Business Analytics: The Changing Face of Statistics

FTF.3 Getting Started Learning Statistics

FTF.4 Preparing to Use Microsoft Excel for Statistics

                  REFERENCES

                  KEY TERMS

                  EXCEL GUIDE

 

1. Defining and Collecting Data

                  USING STATISTICS: Defining Moments

1.1 Defining Variables

1.2 Collecting Data

1.3 Types of Sampling Methods

1.4 Data Preparation

1.5 Types of Survey Errors

                  CONSIDER THIS: New Media Surveys/Old Sampling Problems

                  SUMMARY

                  REFERENCES

                  KEY TERMS

                  USING STATISTICS: Defining Moments, Revisited

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    CardioGood Fitness

                                    Clear Mountain State Student Survey

                                    Learning with the Digital Cases

                  CHAPTER 1 EXCEL GUIDE

 

2. Organizing and Visualizing Variables

                  USING STATISTICS: “The Choice is Yours”

2.1 Organizing Categorical Variables

2.2 Organizing Numerical Variables

2.3 Visualizing Categorical Variables

2.4 Visualizing Numerical Variables

2.5 Visualizing Two Numerical Variables

2.6 Organizing and Visualizing a Mix of Variables

2.7 The Challenge in Organizing and Visualizing Variables

                  USING STATISTICS: The Choice is Yours, Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    CardioGood Fitness

                                    The Choice is Yours Follow-Up

                                    Clear Mountain State Student Survey

                  CHAPTER 2 EXCEL GUIDE

 

3. Numerical Descriptive Measures

                  USING STATISTICS: More Descriptive Choices

3.1 Central Tendency

3.2 Variation and Shape

3.3 Exploring Numerical Data

3.4 Numerical Descriptive Measures for a Population

3.5 The Covariance and the Coefficient of Correlation

3.6 Statistics: Pitfalls and Ethical Issues

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    CardioGood Fitness

                                    More Descriptive Choices Follow-up

                                    Clear Mountain State Student Survey

                  CHAPTER 3 EXCEL GUIDE

 

4. Basic Probability

                  USING STATISTICS: Possibilities at M&R Electronics World

4.1 Basic Probability Concepts

4.2 Conditional Probability

4.3 Ethical Issues and Probability

4.4 Bayes’ Theorem

                  CONSIDER THIS: Divine Providence and Spam

4.5 Counting Rules

                  USING STATISTICS: Possibilities at M&R Electronics World, Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES DIGITAL CASE

                                    CardioGood Fitness

                                    The Choice is Yours Follow-Up

                                    Clear Mountain State Student Survey

                  CHAPTER 4 EXCEL GUIDE

 

5. Discrete Probability Distributions

                  USING STATISTICS: Events of Interest at Ricknel Home Centers

5.1 The Probability Distribution for a Discrete Variable

5.2 Binomial Distribution

5.3 Poisson Distribution

5.4 Covariance of a Probability Distribution and its Application in Finance

5.5 Hypergeometric Distribution

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                  CHAPTER 5 EXCEL GUIDE

 

6. The Normal Distribution and Other Continuous Distributions

                  USING STATISTICS: Normal Load Times at MyTVLab

6.1 Continuous Probability Distributions

6.2 The Normal Distribution

6.3 Evaluating Normality

6.4 The Uniform Distribution

6.5 The Exponential Distribution

6.6 The Normal Approximation to the Binomial Distribution

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    CardioGood Fitness

                                    More Descriptive Choices Follow-up

                                    Clear Mountain State Student Survey

                                    Digital Case

                  CHAPTER 6 EXCEL GUIDE

 

7. Sampling Distributions

                  USING STATISTICS: Sampling Oxford Cereals

7.1 Sampling Distributions

7.2 Sampling Distribution of the Mean

7.3 Sampling Distribution of the Proportion

                  SUMMARY

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland Multicomm Services

                                    Digital Case

                  CHAPTER 7 EXCEL GUIDE

 

8. Confidence Interval Estimation

                  USING STATISTICS: Getting Estimates at Ricknel Home Centers

8.1 Confidence Interval Estimate for the Mean (Known)

8.2 Confidence Interval Estimate for the Mean (Unknown)

8.3 Confidence Interval Estimate for the Proportion

8.4 Determining Sample Size

8.5 Confidence Interval Estimation and Ethical Issues

8.6 Application of Confidence Interval Estimation in Auditing

8.7 Estimation and Sample Size Estimation for Finite Populations

8.8 Bootstrapping

                  USING STATISTICS: Getting Estimates . . . , Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    Sure Value Convenience Stores

                                    CardioGood Fitness

                                    More Descriptive Choices Follow-Up

                                    Clear Mountain State Student Survey

                  CHAPTER 8 EXCEL GUIDE

 

9. Fundamentals of Hypothesis Testing: One-Sample Tests

                  USING STATISTICS: Significant Testing at Oxford Cereals

9.1 Fundamentals of Hypothesis-Testing Methodology

9.2 t Test of Hypothesis for the Mean (Unknown)

9.3 One-Tail Tests

9.4 Z Test of Hypothesis for the Proportion

9.5 Potential Hypothesis-Testing Pitfalls and Ethical Issues

9.6 Power of the Test

                  USING STATISTICS: Significant Testing . . ., Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    Sure Value Convenience Stores

                  CHAPTER 9 EXCEL GUIDE

 

10. Two-Sample Tests

                  USING STATISTICS: Differing Means for Selling Streaming Media Players at Arlingtons?

10.1 Comparing the Means of Two Independent Populations

10.2 Comparing the Means of Two Related Populations

10.3 Comparing the Proportions of Two Independent Populations

10.4 F Test for the Ratio of Two Variances

10.5 Effect Size

                  USING STATISTICS: Differing Means for Selling...Revisited

                  SUMMARY

                  REFERENCES

                  KEY TERMS

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    Sure Value Convenience Stores

                                    CardioGood Fitness

                                    More Descriptive Choices Follow-Up

                                    Clear Mountain State Student Survey

                  CHAPTER 10 EXCEL GUIDE

 

11. Analysis of Variance

                  USING STATISTICS: The Means to Find Differences at Arlingtons

11.1 The Completely Randomized Design: One-Way ANOVA

11.2 The Factorial Design: Two-Way ANOVA

11.3 The Randomized Block Design

11.4 Fixed Effects, Random Effects, and Mixed Effects Models

                  USING STATISTICS: The Means to Find Differences at Arlingtons Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services Phase

                                    Phase

                                    Digital Case

                                    Sure Value Convenience Stores

                                    CardioGood Fitness

                                    More Descriptive Choices Follow-Up

                                    Clear Mountain State Student Survey

                  CHAPTER 11 EXCEL GUIDE

 

12. Chi-Square and Nonparametric Tests

                  USING STATISTICS: Avoiding Guesswork about Resort Guests

12.1 Chi-Square Test for the Difference Between Two Proportions

12.2 Chi-Square Test for Differences Among More Than Two Proportions

12.3 Chi-Square Test of Independence

12.4 Wilcoxon Rank Sum Test: A Nonparametric Method for Two Independent Populations

12.5 Kruskal-Wallis Rank Test: A Nonparametric Method for the One-Way ANOVA

12.6 McNemar Test for the Difference Between Two Proportions (Related Samples)

12.7 Chi-Square Test for the Variance or Standard Deviation

                  USING STATISTICS: Avoiding Guesswork..., Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    Sure Value Convenience Stores

                                    CardioGood Fitness

                                    More Descriptive Choices Follow-Up

                                    Clear Mountain State Student Survey

                  CHAPTER 12 EXCEL GUIDE

 

13. Simple Linear Regression

                  USING STATISTICS: Knowing Customers at Sunflowers Apparel

13.1 Types of Regression Models

13.2 Determining the Simple Linear Regression Equation

13.3 Measures of Variation

13.4 Assumptions of Regression

13.5 Residual Analysis

13.6 Measuring Autocorrelation: The Durbin-Watson Statistic

13.7 Inferences About the Slopeand Correlation Coefficient

13.8 Estimation of Mean Values and Prediction of Individual Values

13.9 Potential Pitfalls in Regression

                  USING STATISTICS: Knowing Customers...,Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                                    Brynne Packaging

                  CHAPTER 13 EXCEL GUIDE

 

14. Introduction to Multiple Regression

                  USING STATISTICS: The Multiple Effects of OmniPower Bars

14.1 Developing a Multiple Regression Model

14.2 r2, Adjusted r2, and the Overall F Test

14.3 Residual Analysis for the Multiple Regression Model

14.4 Inferences Concerning the Population Regression Coefficients

14.5 Testing Portions of the Multiple Regression Model

14.6 Using Dummy Variables and Interaction Terms in Regression Models

14.7 Logistic Regression

                  USING STATISTICS: The Multiple Effects . . ., Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                  CHAPTER 14 EXCEL GUIDE

 

15. Multiple Regression Model Building

                  USING STATISTICS: Valuing Parsimony at WSTA-TV

15.1 Quadratic Regression Model

15.2 Using Transformations in Regression Models

15.3 Collinearity

15.4 Model Building

15.5 Pitfalls in Multiple Regression and Ethical Issues

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    The Mountain States Potato Company

                                    Sure Value Convenience Stores

                                    Digital Case

                                    The Craybill Instrumentation Company Case

                                    More Descriptive Choices Follow-Up

                  CHAPTER 15 EXCEL GUIDE

 

16. Time-Series Forecasting

                  USING STATISTICS: Principled Forecasting

16.1 The Importance of Business Forecasting

16.2 Component Factors of Time-Series Models

16.3 Smoothing an Annual Time Series

16.4 Least-Squares Trend Fitting and Forecasting

16.5 Autoregressive Modeling for Trend Fitting and Forecasting

16.6 Choosing an Appropriate Forecasting Model

16.7 Time-Series Forecasting of Seasonal Data

16.8 Index Numbers

Consider This

                  USING STATISTICS: Principled Forecasting, Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHECKING YOUR UNDERSTANDING

                  CHAPTER REVIEW PROBLEMS

                  CASES FOR CHAPTER

                                    Managing Ashland MultiComm Services

                                    Digital Case

                  CHAPTER 16 EXCEL GUIDE

 

17. Getting Ready to Analyze Data in the Future

                  USING STATISTICS: Mounting Future Analyses

17.1 Analyzing Numerical Variables

17.2 Analyzing Categorical Variables

17.3 Introduction to Business Analytics

                  USING STATISTICS: Back to Arlingtons for the Future

17.4 Descriptive Analytics

17.5 Predictive Analytics

                  USING STATISTICS: The Future to be Visited

                  REFERENCES

                  CHAPTER REVIEW PROBLEMS

                  CHAPTER 17 EXCEL GUIDE

 

18. Statistical Applications in Quality Management (online)

                  USING STATISTICS: Finding Quality at the Beachcomber

18.1 The Theory of Control Charts

18.2 Control Chart for the Proportion: The p Chart

18.3 The Red Bead Experiment: Understanding Process Variability

18.4 Control Chart for an Area of Opportunity: The c Chart

18.5 Control Charts for the Range and the Mean

18.6 Process Capability

18.7 Total Quality Managementice

18.8 Six Sigma

                  USING STATISTICS: Finding Quality at the Beachcomber, Revisited

                  SUMMARY

                  REFERENCES

                  KEY EQUATIONS

                  KEY TERMS

                  CHAPTER REVIEW PROBLEMS

                                    THE HARNSWELL SEWING MACHINE COMPANY CASE

                                    MANAGING ASHLAND MULTICOMM SERVICES

                  CHAPTER 18 EXCEL GUIDE

 

19. Decision Making (online)

                  USING STATISTICS: Reliable Decision Making

19.1 Payoff Tables and Decision Trees

19.2 Criteria for Decision Making

19.3 Decision Making with Sample Information

19.4 Utility

                  CONSIDER THIS: Risky Business

                  USING STATISTICS: Reliable Decision-Making, Revisited

                  SUMMARY 19.23

                  REFERENCES 19.23

                  KEY EQUATIONS 19.23

                  KEY TERMS 19.23

                  CHAPTER 19 EXCEL GUIDE 19.27

 

Appendices

A. Basic Math Concepts and Symbols

                  A.1 Rules for Arithmetic Operations

                  A.2 Rules for Algebra: Exponents and Square Roots

                  A.3 Rules for Logarithms

                  A.4 Summation Notation

                  A.5 Statistical Symbols

                  A.6 Greek Alphabet

B. Important Excel and Minitab Skills and Concepts

                  B.1 Which Excel Do You Use?

                  B.2 Basic Operations

                  B.2 Formulas and Cell References

                  B.4 Entering a Formula

                  B.5 Formatting Cell Contents

                  B.6 Formatting Charts

                  B.7 Selecting Cell Ranges for Charts

                  B.8 Deleting the “Extra” Histogram Bar

                  B.9 Creating Histograms for Discrete Probability Distributions

C. Online Resources

                  C.1 About the Online Resources for This Book

                  C.2 Accessing the Online Resources

                  C.3 Details Online Resources

                  C.4 PHStat

D. Configuring Microsoft Excel

                  D.1 Getting Microsoft Excel Ready for Use

                  D.2 Checking for the Presence of the Analysis ToolPak or Solver Add-Ins

                  D.3 Configuring Microsoft Windows Excel Security Settings

                  D.4 Opening Pearson-Supplied Add-Ins

E. Tables

                  E.1 Table of Random Numbers

                  E.2 The Cumulative Standardized Normal Distribution

                  E.3 Critical Values of t

                  E.4 Critical Values of

                  E.5 Critical Values of F

                  E.6 Lower and Upper Critical Values, T1, of the Wilcoxon Rank Sum Test

                  E.7 Critical Values of the Studentized Range, Q

                  E.8 Critical Values, dI and dU, of the Durbin–Watson Statistic, D (Critical Values Are One-Sided)

                  E.9 Control Chart Factors

                  E.10 The Standardized Normal Distribution online

F. Useful Excel Knowledge

                  F.1 Useful Keyboard Shortcuts

                  F.2 Verifying Formulas and Worksheets

                  F.3 New Function Names

                  F.4 Understanding the Nonstatistical Functions

G. Software FAQs

                  G.1 PHStat FAQs

                  G.2 Microsoft Excel FAQs

 

Self-Test Solutions and Answers to Selected Even-Numbered Problems

Index