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Summary
Summary
Designed for the one-term MBA or undergraduate introduction to business statistics course, this text places emphasis on data and the common techniques and methods used to analyze them in business. It introduces concepts using practical examples and illustrates them with computer output from MINITAB, Excel, and JMP. The book integrates a business decision-making case into each chapter for motivational and illustration purposes and includes a business case assignment at the end of each chapter. These cases revolve around realistic business settings with realistic data sets that put students in the role of managers who need to make business decisions based on data. Review problems requiring students to use previously learned concepts also appear throughout to promote understanding of the relationships among statistical methods.
Table of Contents
1 Making Sense of Data |
Executive Overview |
What Do We Mean by "Data?" |
Data About What?Gathering Data |
Summarizing Data |
The Role of Probability |
Evaluating Other People''s Data and Conclusions |
The Role of theComputer |
Summary |
2 Summarizing Data |
Executive Overview |
Chapter Case Introduction |
The Distribution ofValues of a Variable |
Two-Variable Summaries |
On the Average:Typical Values |
Measuring Variability |
Calculators and StatisticalSoftware |
Statistical Methods and Quality Improvement |
ChapterCase Analyses |
Summary |
Supplementary Exercises |
Business Cases |
3 A First Look at Probability |
Executive Overview |
Chapter Case Introduction |
Basic Principles ofProbability |
Statistical Independence |
Probability Tables, Trees, andSimulations |
Chapter Case Analysis |
Summary |
SupplementaryExercises |
Business Cases |
Review Exercises: Chapters 2 and 3 |
4 Random Variables and Probability Distribution |
Executive Overview |
Chapter Case Introduction |
Random Variables:Basic Ideas |
Probability Distributions: Discrete Random Variables |
Expected Value, Variance, and Standard Deviation |
Joint ProbabilityDistributions and Independence |
Covariance and Correlation ofRandom Variables |
Chapter Case Analysis |
Summary |
SupplementaryExercises |
Business Cases |
5 Some Special Probability Distributions |
Executive Overview |
Chapter Case Introduction |
Counting PossibleOutcomes |
Bernoulli Trials and the Binomial Distribution |
ThePoisson Distribution |
The Normal Distribution |
Checking Normality |
Chapter Case Analysis |
Summary |
Supplementary Exercises |
BusinessCases |
6 Random Sampling and Sampling Distrubtions |
Executive Overview |
Chapter Case Introduction |
Random Sampling |
Sample Statistics and Sampling Distributions |
SamplingDistributions for Means and Sums |
Chapter Case Analysis |
Summary |
Appendix: Standard Error of a Mean |
Supplementary Exercises |
Business Cases |
Review Exercises: Chapters 4-6 |
7 Point Interval Estimation |
Executive Overview |
Chapter Case Introduction |
Point Estimators |
Interval Estimation of a Mean, Known Standard Deviation |
ConfidenceIntervals for a Proportion |
How Large a Sample is Needed? |
The tDistribution |
Confidence Intervals with the t Distribution |
Assumptions for Interval Estimation |
Chapter Case Analysis |
Summary |
Supplementary Exercises |
Business Case |
8 Hypothesis Testing |
Executive Overview |
Chapter Case Introduction |
A Test for a Mean,Known Standard Deviation |
Type II Error, ß Probability, and Power ofa Test |
The p-Value for a Hypothesis Test |
Hypothesis Testing withthe t Distribution |
Assumptions for t Tests |
Testing a Proportion:Normal Approximation |
Hypothesis Tests and Confidence Intervals |
Chapter Case Analysis |
Summary |
Supplementary Exercises |
BusinessCase |
Review Exercises: Chapters 7-8 |
9 Comparing Two Samples |
Executive Overview |
Chapter Case Introduction |
Comparing the Means of Two Populations |
ANonparametric Test: The Wilcoxon Rank SumTest |
Paired-Sample Methods |
TheSigned-Rank Method |
Two-SampleProcedures for Proportions |
Chi-Squared Test for CountData |
Chapter Case Analysis |
Summary |
Supplementary Exercises |
Business Cases |
10 Analysis of Variance and Designedexperiments |
Executive Overview |
Chapter Case Introduction |
Testing the Equality of Several PopulationMeans |
Comparing Several Distributions by a Rank Test |
SpecificComparisons Among Means |
Two-Factor Experiments |
RandomizedBlock Designs |
Chapter Case Analysis |
Summary |
SupplementaryExercises |
Business Cases |
11 Linear Regression and Correlation Methods |
Executive Overview |
Chapter Case Introduction |
The LinearRegression Model |
Estimating Model Parameters |
Inferences aboutRegression Parameters |
Predicting New Y Values using Regression |
Correlation |
Chapter Case Analysis |
Summing Up |
SupplementaryExercises |
Business Cases |
12 Multiple Regression Methods |
Executive Overview |
Chapter Case Introduction |
The MultipleRegression Model |
Estimating Multiple Regression Coefficients |
Inferences in Multiple Regression |
Testing a Subset of theRegression Coefficients |