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Basic Business Statistics : Concepts and Applications

ISBN: 9780131678316 | 0131678310
Edition: 11th
Format: Hardcover w/CD
Publisher: Prentice Hall
Pub. Date: 1/1/2009

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SummaryTable of Contents
For a 1 or 2 semester course in Business Statistics.This comprehensive, 18 chapter hardcover text focuses on using rich business applications from all the functional areas of business to introduce the core concepts. The focus is on providing a sophisticated, uncluttered (by bells and whistles) approach.A briefer version is also available: Business Statistics: A First Course 4e.
Prefacexxv
Introduction and Data Collection
1(20)
Using Statistics: Good Tunes
2(1)
... MORE
Basic Concepts of Statistics
2(2)
The Growth of Statistics and Information Technology
4(1)
How This Text Is Organized
5(2)
Collecting Data
7(1)
Identifying Sources of Data
7(1)
Types of Data
8(13)
Levels of Measurement and Types of Measurement Scales
9(2)
Summary
11(1)
Key Terms
11(1)
Chapter Review Problems
12(1)
Introduction to the Web Cases
13(1)
Introduction to Using Statistical Programs
14(1)
Using Windows
14(2)
Introduction to Microsoft Excel
16(3)
Introduction to Minitab
19(2)
CD-ROM Topic: Introduction to Spss
Presenting Data in Tables and Charts
21(50)
Using Statistics: Comparing the Performance of Mutual Funds
22(1)
Tables and Charts for Categorical Data
22(7)
The Summary Table
22(1)
The Bar Chart
23(1)
The Pie Chart
24(1)
The Pareto Diagram
25(4)
Organizing Numerical Data
29(3)
The Ordered Array
30(1)
The Stem-and-Leaf Display
30(2)
Tables and Charts for Numerical Data
32(11)
The Frequency Distribution
32(2)
The Relative Frequency Distribution and the Percentage Distribution
34(1)
The Cumulative Distribution
35(2)
The Histogram
37(1)
The Polygon
38(2)
The Cumulative Percentage Polygon (Ogive)
40(3)
Cross Tabulations
43(4)
The Contingency Table
43(2)
The Side-by-Side Bar Chart
45(2)
Scatter Diagrams and Time-Series Plots
47(4)
The Scatter Diagram
47(1)
The Time-Series Plot
48(3)
Misusing Graphs and Ethical Issues
51(20)
Summary
54(1)
Key Terms
55(1)
Chapter Review Problems
55(7)
Managing the Springville Herald
62(1)
Web Case
62(1)
Using Software for Tables and Charts
63(1)
Microsoft Excel
63(3)
Minitab
66(5)
CD-ROM Topic: Using SPSS for Tables and Charts
Numerical Descriptive Measures
71(54)
Using Statistics: Evaluating the Performance of Mutual Funds
72(1)
Measures of Central Tendency, Variation, and Shape
72(22)
The Mean
73(2)
The Median
75(1)
The Mode
76(1)
Quartiles
77(2)
The Geometric Mean
79(1)
The Range
80(1)
The Interquartile Range
81(1)
The Variance and the Standard Deviation
82(3)
The Coefficient of Variation
85(1)
Z Scores
86(2)
Shape
88(1)
Visual Explorations: Exploring Descriptive Statistics
88(1)
Microsoft Excel Descriptive Statistics Output
89(1)
Minitab Descriptive Statistics Output
90(4)
Numerical Descriptive Measures for a Population
94(5)
The Population Mean
94(1)
The Population Variance and Standard Deviation
95(1)
The Empirical Rule
96(1)
The Chebyshev Rule
97(2)
Computing Numerical Descriptive Measures from a Frequency Distribution
99(2)
Exploratory Data Analysis
101(5)
The Five-Number Summary
102(1)
The Box-and-Whisker Plot
103(3)
The Covariance and the Coefficient of Correlation
106(6)
The Covariance
106(2)
The Coefficient of Correlation
108(4)
Pitfalls in Numerical Descriptive Measures and Ethical Issues
112(13)
Ethical Issues
113(1)
Summary
113(1)
Key Formulas
114(1)
Key Terms
114(1)
Chapter Review Problems
115(6)
Managing the Springville Herald
121(1)
Web Case
121(1)
Using Software for Descriptive Statistics
121(1)
Microsoft Excel
121(1)
Minitab
122(3)
CD-ROM Topic: Using SPSS for Descriptive Statistics
Basic Probability
125(32)
Using Statistics: The Consumer Electronics Company
126(1)
Basic Probability Concepts
126(9)
Events and Sample Spaces
128(1)
Contingency Tables and Venn Diagrams
129(1)
Simple (Marginal) Probability
129(2)
Joint Probability
131(1)
General Addition Rule
132(3)
Conditional Probability
135(8)
Computing Conditional Probabilities
135(2)
Decision Trees
137(1)
Statistical Independence
138(2)
Multiplication Rules
140(3)
Bayes' Theorem
143(4)
Counting Rules
147(3)
Ethical Issues and Probability
150(7)
Summary
151(1)
Key Formulas
151(1)
Key Terms
152(1)
Chapter Review Problems
152(2)
Web Case
154(1)
Using Software for Basic Probability
155(1)
Microsoft Excel
155(2)
Some Important Discrete Probability Distributions
157(34)
Using Statistics: The Accounting Information System of the Saxon Home Improvement Company
158(1)
The Probability Distribution for a Discrete Random Variable
158(4)
Expected Value of a Discrete Random Variable
159(1)
Variance and Standard Deviation of a Discrete Random Variable
160(2)
Covariance and Its Application in Finance
162(4)
The Covariance
162(1)
The Expected Value, Variance, and Standard Deviation of the Sum of Two Random Variables
163(1)
Portfolio Expected Return and Portfolio Risk
164(2)
Binomial Distribution
166(9)
Poisson Distribution
175(4)
Hypergeometric Distribution
179(3)
The Mean
180(1)
The Standard Deviation
180(2)
CD-ROM Topic: Using the Poisson Distribution to Approximate the Binomial Distribution
182(9)
Summary
182(1)
Key Formulas
183(1)
Key Terms
183(1)
Chapter Review Problems
184(3)
Managing the Springville Herald
187(1)
Web Case
188(1)
Using Software for Discrete Probability Distributions
188(1)
Microsoft Excel
188(1)
Minitab
189(2)
The Normal Distribution and Other Continuous Distributions
191(36)
Using Statistics: Download Time for a Web Site Homepage
192(1)
Continuous Probability Distributions
192(1)
The Normal Distribution
193(15)
Visual Explorations: Exploring the Normal Distribution
202(6)
Evaluating Normality
208(5)
Evaluating the Properties
208(1)
Constructing the Normal Probability Plot
209(4)
The Uniform Distribution
213(2)
The Exponential Distribution
215(3)
The Normal Approximation to the Binomial Distribution
218(9)
Need for a Correction for Continuity Adjustment
218(1)
Approximating the Binomial Distribution
218(2)
Computing a Probability Approximation for an Individual Value
220(1)
Summary
220(1)
Key Formulas
221(1)
Key Terms
221(1)
Chapter Review Problems
221(2)
Managing the Springville Herald
223(1)
Web Case
224(1)
Using Software for Continuous Probability Distributions
224(1)
Microsoft Excel
224(1)
Minitab
225(2)
CD-ROM Topic: Using SPSS for a Normal Probability Plot
Sampling Distributions
227(32)
Using Statistics: Cereal-Fill Packaging Process
228(1)
Sampling Distributions
228(1)
Sampling Distribution of the Mean
229(10)
The Unbiased Property of the Sample Mean
229(1)
Standard Error of the Mean
230(2)
Sampling from Normally Distributed Populations
232(3)
Sampling from Nonnormally Distributed Populations---The Central Limit Theorem
235(2)
Visual Explorations: Exploring Sampling Distributions
237(2)
Sampling Distribution of the Proportion
239(3)
Types of Survey Sampling Methods
242(6)
Simple Random Sample
243(2)
Systematic Sample
245(1)
Stratified Sample
246(1)
Cluster Sample
246(2)
Evaluating Survey Worthiness
248(3)
Survey Errors
248(2)
Ethical Issues
250(1)
CD-ROM Topic: Sampling from Finite Populations
251(8)
Summary
251(1)
Key Formulas
251(1)
Key Terms
252(1)
Chapter Review Problems
252(3)
Managing the Springville Herald
255(1)
Web Case
255(1)
Using Software for Sampling Distributions
256(1)
Microsoft Excel
256(1)
Minitab
256(3)
Confidence Interval Estimation
259(40)
Using Statistics: Auditing Sales Invoices at the Saxon Home Improvement Company
260(1)
Confidence Interval Estimation for the Mean (σ Known)
261(4)
Confidence Interval Estimation for the Mean (σ Unknown)
265(7)
Student's t Distribution
265(1)
Properties of the t Distribution
266(1)
The Concept of Degrees of Freedom
267(1)
The Confidence Interval Statement
268(4)
Confidence Interval Estimation for the Proportion
272(4)
Determining Sample Size
276(6)
Sample Size Determination for the Mean
276(2)
Sample Size Determination for the Proportion
278(4)
Applications of Confidence Interval Estimation in Auditing
282(6)
Estimating the Population Total Amount
282(1)
Difference Estimation
283(3)
One-Sided Confidence Interval Estimation of the Rate of Noncompliance with Internal Controls
286(2)
Confidence Interval Estimation and Ethical Issues
288(1)
CD-ROM Topic: Estimation and Sample Size Determination for Finite Populations
288(11)
Summary
289(1)
Key Formulas
289(1)
Key Terms
289(1)
Chapter Review Problems
290(4)
Managing the Springville Herald
294(1)
Web Case
295(1)
Using Software for Confidence Intervals and Sample Size Determination
296(1)
Microsoft Excel
296(1)
Minitab
297(2)
CD-ROM Topic: Using SPSS for Confidence Interval Estimation
Fundamentals of Hypothesis Testing: One-Sample Tests
299(46)
Using Statistics: The Oxford Cereal Company Revisited
300(1)
Hypothesis-Testing Methodology
300(6)
The Null and Alternative Hypotheses
300(2)
The Critical Value of the Test Statistic
302(1)
Regions of Rejection and Nonrejection
302(1)
Risks in Decision Making Using Hypothesis-Testing Methodology
303(3)
Z Test of Hypothesis for the Mean (σ Known)
306(8)
The Critical Value Approach to Hypothesis Testing
306(3)
The p-Value Approach to Hypothesis Testing
309(3)
A Connection between Confidence Interval Estimation and Hypothesis Testing
312(2)
One-Tail Tests
314(4)
The Critical Value Approach
314(1)
The p-Value Approach
315(3)
t Test of Hypothesis for the Mean (σ Unknown)
318(7)
The Critical Value Approach
319(2)
The p-Value Approach
321(1)
Checking Assumptions
321(4)
Z Test of Hypothesis for the Proportion
325(4)
The Critical Value Approach
326(1)
The p-Value Approach
327(2)
The Power of a Test
329(6)
Potential Hypothesis-Testing Pitfalls and Ethical Issues
335(10)
Summary
338(1)
Key Formulas
339(1)
Key Terms
339(1)
Chapter Review Problems
339(3)
Managing the Springville Herald
342(1)
Web Case
342(1)
Using Software for One-Sample Tests of Hypothesis
343(1)
Microsoft Excel
343(1)
Minitab
343(2)
CD-ROM Topic: Using SPSS for One-Sample Tests of Hypothesis
Two-Sample Tests
345(50)
Using Statistics: Comparing Sales from End-Aisle Displays and Normal Displays
346(1)
Comparing the Means of Two Independent Populations
346(12)
Z Test for the Difference Between Two Means
346(1)
Pooled-Variance t Test for the Difference Between Two Means
347(5)
Confidence Interval Estimate for the Difference Between the Means of Two Independent Populations
352(1)
Separate-Variance t Test for the Difference Between Two Means
352(6)
Comparing the Means of Two Related Populations
358(10)
Paired t Test
359(6)
Confidence Interval Estimate for the Mean Difference
365(3)
Comparing Two Population Proportions
368(6)
Z Test for the Difference Between Two Proportions
368(4)
Confidence Interval Estimate for the Difference Between Two Proportions
372(2)
F Test for the Difference Between Two Variances
374(21)
Finding Lower-Tail Critical Values
376(6)
Summary
382(1)
Key Formulas
383(1)
Key Terms
384(1)
Chapter Review Problems
384(4)
Managing the Springville Herald
388(1)
Web Case
389(1)
Using Software for Two-Sample Tests
390(1)
Microsoft Excel
390(2)
Minitab
392(3)
CD-ROM Topic: Using SPSS for Two-Sample Tests of Hypothesis
Analysis of Variance
395(50)
Using Statistics: The Perfect Parachute Company
396(1)
The Completely Randomized Design: One-Way Analysis of Variance
396(15)
F Test for Differences Among More than Two Means
396(7)
Multiple Comparisons: The Tukey-Kramer Procedure
403(2)
Anova Assumptions
405(1)
Levene's Test for Homogeneity of Variance
406(5)
The Randomized Block Design
411(10)
Tests for the Treatment and Block Effects
411(6)
Multiple Comparisons: The Tukey Procedure
417(4)
The Factorial Design: Two-Way Analysis of Variance
421(24)
Testing for Factor and Interaction Effects
422(5)
Interpreting Interaction Effects
427(3)
Multiple Comparisons: The Tukey Procedure
430(3)
Summary
433(1)
Key Formulas
433(2)
Key Terms
435(1)
Chapter Review Problems
435(4)
Managing the Springville Herald
439(1)
Web Case
440(1)
Using Software for Anova
441(1)
Microsoft Excel
441(1)
Minitab
442(3)
CD-ROM Topic: Using SPSS for Anova
Chi-Square Tests and Nonparametric Tests
445(68)
Using Statistics: Guest Satisfaction at T. C. Resort Properties
446(1)
Chi-Square Test for the Difference Between Two Proportions (Independent Samples)
446(8)
Chi-Square Test for Differences Among More Than Two Proportions
454(7)
The Marascuilo Procedure
457(4)
Chi-Square Test of Independence
461(6)
McNemar Test for the Difference Between Two Proportions (Related Samples)
467(3)
Chi-Square Test for a Variance or Standard Deviation
470(4)
Chi-Square Goodness-of-Fit Tests
474(5)
Chi-Square Goodness-of-Fit Test for a Poisson Distribution
474(2)
Chi-Square Goodness-of-Fit Test for a Normal Distribution
476(3)
Wilcoxon Rank Sum Test: Nonparametric Analysis for Two Independent Populations
479(6)
Wilcoxon Signed Ranks Test: Nonparametric Analysis for Two Related Populations
485(6)
Kruskal-Wallis Rank Test: Nonparametric Analysis for the One-Way Anova
491(5)
Friedman Rank Test: Nonparametric Analysis for the Randomized Block Design
496(17)
Summary
501(1)
Key Formulas
502(1)
Key Terms
502(1)
Chapter Review Problems
503(4)
Managing the Springville Herald
507(1)
Web Case
508(1)
Using Software for Chi-Square Tests and Nonparametric Tests
509(1)
Microsoft Excel
509(1)
Minitab
510(3)
CD-ROM Topic: Using SPSS for Chi-Square Tests and Nonparametric Tests
Simple Linear Regression
513(56)
Using Statistics: Forecasting Sales for a Clothing Store
514(1)
Types of Regression Models
514(2)
Determining the Simple Linear Regression Equation
516(9)
The Least-Squares Method
517(3)
Visual Explorations: Exploring Simple Linear Regression Coefficients
520(1)
Predictions in Regression Analysis: Interpolation versus Extrapolation
521(1)
Computing the Y Intercept b0 and the Slope b1
521(4)
Measures of Variation
525(7)
Computing the Sum of Squares
525(3)
The Coefficient of Determination
528(2)
Standard Error of the Estimate
530(2)
Assumptions
532(1)
Residual Analysis
532(5)
Evaluating the Assumptions
532(5)
Measuring Autocorrelation: The Durbin-Watson Statistic
537(5)
Residual Plots to Detect Autocorrelation
537(2)
The Durbin-Watson Statistic
539(3)
Inferences About the Slope and Correlation Coefficient
542(7)
t Test for the Slope
542(2)
FTest for the Slope
544(1)
Confidence Interval Estimate of the Slope (β1)
545(1)
t Test for a Correlation Coefficient
546(3)
Estimation of Mean Values and Prediction of Individual Values
549(5)
The Confidence Interval Estimate
549(2)
The Prediction Interval
551(3)
Pitfalls in Regression and Ethical Issues
554(15)
Summary
557(1)
Key Formulas
558(1)
Key Terms
559(1)
Chapter Review Problems
559(5)
Managing the Springville Herald
564(1)
Web Case
565(1)
Using Software for Simple Linear Regression
566(1)
Microsoft Excel
566(2)
Minitab
568(1)
CD-ROM Topic: Using SPSS for Simple Linear Regression
Introduction to Multiple Regression
569(50)
Using Statistics: Predicting OmniPower Sales
570(1)
Developing the Multiple Regression Model
570(6)
Interpreting the Regression Coefficients
571(3)
Predicting the Dependent Variable Y
574(2)
r2, Adjusted r2, and the Overall F Test
576(4)
Coefficient of Multiple Determination
576(1)
Test for the Significance of the Overall Multiple Regression Model
577(3)
Residual Analysis for the Multiple Regression Model
580(2)
Inferences Concerning the Population Regression Coefficients
582(4)
Tests of Hypothesis
582(2)
Confidence Interval Estimation
584(2)
Testing Portions of the Multiple Regression Model
586(6)
Coefficients of Partial Determination
590(2)
Using Dummy Variables and Interaction Terms in Regression Models
592(11)
Interactions
595(8)
Logistic Regression
603(16)
Summary
608(2)
Key Formulas
610(1)
Key Terms
610(1)
Chapter Review Problems
611(3)
Managing the Springville Herald
614(1)
Web Case
614(1)
Using Software for Multiple Regression
615(1)
Microsoft Excel
615(1)
Minitab
616(3)
CD-ROM Topic: Using SPSS for Multiple Regression
Multiple Regression Model Building
619(38)
Using Statistics: Predicting Standby Hours for Unionized Graphic Artists
620(1)
The Quadratic Regression Model
620(9)
Finding the Regression Coefficients and Predicting Y
621(3)
Testing for the Significance of the Quadratic Model
624(1)
Testing the Quadratic Effect
624(3)
The Coefficient of Multiple Determination
627(2)
Using Transformations in Regression Models
629(3)
The Square-Root Transformation
629(1)
The Log Transformation
630(2)
Influence Analysis
632(3)
The Hat Matrix Elements hi
633(1)
The Studentized Deleted Residuals ti
633(1)
Cook's Distance Statistic Di
634(1)
Overview
634(1)
Collinearity
635(2)
Model Building
637(10)
The Stepwise Regression Approach to Model Building
638(2)
The Best-Subsets Approach to Model Building
640(6)
Model Validation 000
646(1)
Pitfalls in Multiple Regression and Ethical Issues
647(10)
Pitfalls in Multiple Regression
647(1)
Ethical Issues
648(1)
Summary
648(1)
Key Formulas
648(1)
Key Terms
648(2)
Chapter Review Problems
650(3)
The Mountain States Potato Company Case
653(1)
Web Case
653(1)
Software for Multiple Regression Model Building
654(1)
Microsoft Excel
654(1)
Minitab
655(2)
CD-ROM Topic: Using SPSS for Model Building
Time-Series Forecasting and Index Numbers
657(68)
Using Statistics: Forecasting Revenues for Three Companies
658(1)
The Importance of Business Forecasting
658(1)
Component Factors of the Classical Multiplicative Time-Series Model
659(2)
Smoothing the Annual Time Series
661(6)
Moving Averages
662(2)
Exponential Smoothing
664(3)
Least-Squares Trend-Fitting and Forecasting
667(12)
The Linear Trend Model
668(2)
The Quadratic Trend Model
670(2)
The Exponential Trend Model
672(2)
Model Selection Using First, Second, and Percentage Differences
674(5)
The Holt-Winters Method for Trend-Fitting and Forecasting
679(3)
Autoregressive Modeling for Trend-Fitting and Forecasting
682(11)
Choosing an Appropriate Forecasting Model
693(4)
Performing a Residual Analysis
693(1)
Measuring the Magnitude of the Residual Error through Squared or Absolute Differences
694(1)
Principle of Parsimony
694(1)
A Comparison of Five Forecasting Methods
694(3)
Time-Series Forecasting of Seasonal Data
697(7)
Least-Squares Forecasting with Monthly or Quarterly Data
698(6)
Index Numbers
704(8)
The Price Index
705(1)
Aggregate Price Indexes
706(2)
Weighted Aggregate Price Indexes
708(1)
Some Common Price Indexes
709(3)
Pitfalls Concerning Time-Series Forecasting
712(13)
Summary
712(1)
Key Formulas
713(2)
Key Terms
715(1)
Chapter Review Problems
715(3)
Managing the Springville Herald
718(1)
Web Case
718(1)
Using Software for Time-Series Forecasting and Index Numbers
719(1)
Microsoft Excel
719(3)
Minitab
722(3)
CD-ROM Topic: Using SPSS for Time-Series Forecasting
Decision Making
725(26)
Using Statistics: Selecting A Stock
726(1)
Payoff Tables and Decision Trees
726(4)
Criteria for Decision Making
730(9)
Expected Monetary Value
731(1)
Expected Opportunity Loss
732(2)
Return-to-Risk Ratio
734(5)
Decision Making with Sample Information
739(5)
Utility
744(7)
Summary
746(1)
Key Formulas
746(1)
Key Terms
746(1)
Chapter Review Problems
746(3)
Web Case
749(1)
Using Software for Decision Making
750(1)
Microsoft Excel
750(1)
Statistical Applications in Quality and Productivity Management
751(44)
Using Statistics: Service Quality at the Beachcomber Hotel
752(1)
Total Quality Management
752(3)
Six Sigma Management
755(1)
The Theory of Control Charts
755(3)
Control Chart for the Proportion of Nonconforming Items---The p Chart
758(6)
The Red Bead Experiment: Understanding Process Variability
764(2)
Control Chart for an Area of Opportunity---The c Chart
766(4)
Control Charts for the Range and the Mean
770(7)
The R Chart
771(2)
The X Chart
773(4)
Process Capability
777(18)
Customer Satisfaction and Specification Limits
777(2)
Capability Indexes
779(1)
CPL, CPU, and Cpk
780(3)
Summary
783(1)
Key Formulas
783(1)
Key Terms
784(1)
Chapter Review Problems
784(3)
The Harnswell Sewing Machine Company Case
787(2)
Managing the Springville Herald
789(2)
Using Software for Control Charts
791(1)
Microsoft Excel
791(1)
Minitab
791(4)
CD-ROM Topic: Using SPSS for Control Charts
Appendices
795(60)
A. Review of Arithmetic, Algebra, and Logarithms
796(2)
B. Summation Notation
798(3)
C. Statistical Symbols and Greek Alphabet
801(1)
D. CD-ROM Contents
802(7)
E. Tables
809(27)
F. Using Microsoft Excel with This Text
836(2)
G. PHStat2 User's Guide
838(17)
Self-Test Solutions and Answers to Selected Even-Numbered Problems855(38)
Index893

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