Amazon no longer offers textbook rentals. We do!

Essentials of Modern Business Statistics (with CD-ROM)

by: Anderson, David R.; Sweeney, Dennis J.; Williams, Thomas A.

Essentials of Modern Business Statistics (with CD-ROM)

by: Anderson, David R.; Sweeney, Dennis J.; Williams, Thomas A.

ISBN 13:
9780324312843
ISBN 10:
0324312849
Edition: 3rd
Format: Hardcover
Copyright: 04/07/2006
Publisher: South-Western College Pub
Newer Edition

Rent

Sorry, this item is currently unavailable.

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

Extend or Purchase Your Rental at Any Time

Need to keep your rental past your due date? At any time before your due date you can extend or purchase your rental through your account.

Summary

From the renowned author team that has been writing market-leading business statistics textbooks for more than 20 years, ESSENTIALS OF MODERN BUSINESS STATISTICS, 3e provides a brief introduction to business statistics that balances a conceptual understanding of statistics with the real-world application of statistical methodology. The latest version of Microsoft Excel is integrated throughout the text, showing step-by-step instructions and screen captures to enhance student learning. The Third Edition contains the same student learning features that have made ASW products best-sellers for years; features include the problem-scenario approach and real-world examples that introduce statistical techniques.

Preface

xvii

About the Authors

xxiii

Data and Statistics

(29)

Statistics in Practice: Business Week

(1)

Applications in Business and Economics

(2)

Accounting

(1)

Finance

(1)

Marketing

(1)

Production

(1)

Economics

(1)

Data

(3)

Elements, Variables, and Observations

(1)

Scales of Measurement

(1)

Qualitative and Quantitative Data

(1)

Cross-Sectional and Time Series Data

(1)

Data Sources

(4)

Existing Sources

(1)

Statistical Studies

(3)

Data Acquisition Errors

(1)

Descriptive Statistics

(2)

Statistical Inference

(1)

Statistical Analysis Using Microsoft Excel

(15)

Data Sets and Excel Worksheets

(2)

Using Excel for Statistical Analysis

(1)

Summary

(1)

Glossary

(1)

Supplementary Exercises

(6)

Appendix 1.1 An Introduction to SWStat+

(3)

Descriptive Statistics: Tabular and Graphical Presentations

(59)

Statistics in Practice: Colgate-Palmolive Company

(1)

Summarizing Qualitative Data

(9)

Frequency Distribution

(1)

Using Excel's Countif Function to Construct a Frequency Distribution

(1)

Relative Frequency and Percent Frequency Distributions

(1)

Using Excel to Construct Relative Frequency and Percent Frequency Distributions

(1)

Bar Graphs and Pie Charts

(1)

Using Excel's Chart Wizard to Construct Bar Graphs and Pie Charts

(5)

Summarizing Quantitative Data

(17)

Frequency Distribution

(2)

Using Excel's Frequency Function to Construct a Frequency Distribution

(2)

Relative Frequency and Percent Frequency Distributions

(1)

Histogram

(1)

Using Excel's Chart Wizard to Construct a Histogram

(2)

Cumulative Distributions

(3)

Using Excel's Histogram Tool to Construct a Frequency Distribution and Histogram

(7)

Exploratory Data Analysis: The Stem-and-Leaf Display

(5)

Crosstabulations and Scatter Diagrams

(26)

Crosstabulation

(3)

Using Excel's PivotTable Report to Construct a Crosstabulation

(3)

Simpson's Paradox

(1)

Scatter Diagram and Trendline

(2)

Using Excel's Chart Wizard to Construct a Scatter Diagram and a Trendline

(6)

Summary

(2)

Glossary

(1)

Key Formulas

(1)

Supplementary Exercises

(6)

Case Problem Pelican Stores

(2)

Descriptive Statistics: Numerical Measures

(66)

Statistics in Practice: Small Fry Design

(1)

Measures of Location

(12)

Mean

(1)

Median

(1)

Mode

(1)

Using Excel to Compute the Mean, Median, and Mode

(1)

Percentiles

(1)

Quartiles

(1)

Using Excel's Rank and Percentile Tool to Compute Percentiles and Quartiles

(6)

Measures of Variability

103

(10)

Range

104

(1)

Interquartile Range

104

(1)

Variance

105

(1)

Standard Deviation

106

(2)

Using Excel to Compute the Sample Variance and Sample Standard Deviation

108

(1)

Coefficient of Variation

108

(1)

Using Excel's Descriptive Statistics Tool

108

(5)

Measures of Distribution Shape, Relative Location, and Detecting Outliers

113

(7)

Distribution Shape

113

(2)

z-Scores

115

(1)

Chebyshev's Theorem

116

(1)

Empirical Rule

116

(1)

Detecting Outliers

117

(3)

Exploratory Data Analysis

120

(5)

Five-Number Summary

120

(1)

Box Plot

121

(4)

Measures of Association Between Two Variables

125

(10)

Covarlance

125

(2)

Interpretation of the Covariance

127

(2)

Correlation Coefficient

129

(1)

Interpretation of the Correlation Coefficient

130

(2)

Using Excel to Compute the Covariance and Correlation Coefficient

132

(3)

The Weighted Mean and Working with Grouped Data

135

(20)

Weighted Mean

135

(1)

Grouped Data

136

(5)

Summary

141

(1)

Glossary

141

(1)

Key Formulas

142

(2)

Supplementary Exercises

144

(5)

Case Problem 1 Pelican Stores

149

(1)

Case Problem 2 National Health Care Association

150

(1)

Case Problem 3 Business Schools of Asia-Pacific

151

(1)

Appendix 3.1 Constructing a Box Plot Using SWStat+

151

(4)

Introduction to Probability

155

(45)

Statistics in Practice: Morton International

156

(1)

Experiments, Counting Rules, and Assigning Probabilities

157

(10)

Counting Rules, Combinations, and Permutations

157

(5)

Assigning Probabilities

162

(2)

Probabilities for the KP&L Project

164

(3)

Events and Their Probabilities

167

(4)

Some Basic Relationships of Probability

171

(6)

Complement of an Event

171

(1)

Addition Law

172

(5)

Conditional Probability

177

(8)

Independent Events

181

(1)

Multiplication Law

181

(4)

Bayes' Theorem

185

(15)

Tabular Approach

188

(1)

Using Excel to Compute Posterior Probabilities

189

(3)

Summary

192

(1)

Glossary

192

(1)

Key Formulas

193

(1)

Supplementary Exercises

194

(4)

Case Problem Hamilton County Judges

198

(2)

Discrete Probability Distributions

200

(40)

Statistics in Practice: Citibank

201

(1)

Random Variables

201

(3)

Discrete Random Variables

202

(1)

Continuous Random Variables

203

(1)

Discrete Probability Distributions

204

(6)

Expected Value and Variance

210

(5)

Expected Value

210

(1)

Variance

210

(1)

Using Excel to Compute the Expected Value, Variance, and Standard Deviation

211

(4)

Binomial Probability Distribution

215

(11)

A Binomial Experiment

216

(1)

Martin Clothing Store Problem

216

(5)

Using Excel to Compute Binomial Probabilities

221

(2)

Expected Value and Variance for the Binomial Probability Distribution

223

(3)

Poisson Probability Distribution

226

(5)

An Example Involving Time Intervals

226

(1)

An Example Involving Length or Distance Intervals

227

(1)

Using Excel to Compute Poisson Probabilities

228

(3)

Hypergeometric Probability Distribution

231

(9)

Using Excel to Compute Hypergeometric Probabilities

233

(2)

Summary

235

(1)

Glossary

235

(1)

Key Formulas

236

(1)

Supplementary Exercises

237

(3)

Continuous Probability Distributions

240

(31)

Statistics in Practice: Procter & Gamble

241

(1)

Uniform Probability Distribution

242

(4)

Area as a Measure of Probability

243

(3)

Normal Probability Distribution

246

(15)

Normal Curve

246

(2)

Standard Normal Probability Distribution

248

(5)

Computing Probabilities for Any Normal Probability Distribution

253

(1)

Grear Tire Company Problem

254

(2)

Using Excel to Compute Normal Probabilities

256

(5)

Exponential Probability Distribution

261

(10)

Computing Probabilities for the Exponential Distribution

262

(1)

Relationship Between the Poisson and Exponential Distributions

263

(1)

Using Excel to Compute Exponential Probabilities

263

(3)

Summary

266

(1)

Glossary

266

(1)

Key Formulas

266

(1)

Supplementary Exercises

267

(2)

Case Problem Specialty Toys

269

(2)

Sampling and Sampling Distribution

271

(37)

Statistics in Practice: MeadWestvaco Corporation

272

(1)

The Electronics Associates Sampling Problem

273

(1)

Simple Random Sampling

274

(6)

Sampling from a Finite Population

274

(4)

Sampling from an Infinite Population

278

(2)

Point Estimation

280

(3)

Introduction to Sampling Distributions

283

(3)

Sampling Distribution of x

286

(10)

Expected Value of x

286

(1)

Standard Deviation of x

287

(1)

Form of the Sampling Distribution of x

288

(2)

Sampling Distribution of x for the EAI Problem

290

(1)

Practical Value of the Sampling Distribution of x

290

(2)

Relationship Between Sample Size and the Sampling Distribution of x

292

(4)

Sampling Distribution of p

296

(5)

Expected Value of p

296

(1)

Standard Deviation of p

297

(1)

Form of the Sampling Distribution of p

297

(1)

Practical Value of the Sampling Distribution of p

298

(3)

Sampling Methods

301

(7)

Stratified Random Sampling

301

(1)

Cluster Sampling

301

(1)

Systematic Sampling

302

(1)

Convenience Sampling

303

(1)

Judgment Sampling

303

(1)

Summary

304

(1)

Glossary

304

(1)

Key Formulas

305

(1)

Supplementary Exercises

305

(3)

Interval Estimation

308

(39)

Statistics in Practice: Food Lion

309

(1)

Population Mean: σ Known

310

(8)

Margin of Error and the Interval Estimate

310

(4)

Using Excel

314

(2)

Practical Advice

316

(2)

Population Mean: σ Unknown

318

(10)

Margin of Error and the Interval Estimate

319

(3)

Using Excel

322

(1)

Practical Advice

323

(1)

Using a Small Sample

323

(2)

Summary of Interval Estimation Procedures

325

(3)

Determining the Sample Size

328

(3)

Population Proportion

331

(16)

Using Excel

332

(2)

Determining the Sample Size

334

(4)

Summary

338

(1)

Glossary

339

(1)

Key Formulas

339

(1)

Supplementary Exercises

340

(3)

Case Problem 1 Bock Investment Services

343

(1)

Case Problem 2 Gulf Real Estate Properties

343

(3)

Case Problem 3 Metropolitan Research, Inc.

346

(1)

Hypothesis Tests

347

(46)

Statistics in Practice: John Morrell & Company

348

(1)

Developing Null and Alternative Hypotheses

349

(2)

Testing Research Hypotheses

349

(1)

Testing the Validity of a Claim

349

(1)

Testing in Decision-Making Situations

350

(1)

Summary of Forms for Null and Alternative Hypotheses

350

(1)

Type I and Type II Errors

351

(3)

Population Mean: σ Known

354

(16)

One-Tailed Test

354

(6)

Two-Tailed Test

360

(3)

Using Excel

363

(1)

Summary and Practical Advice

364

(2)

Relationship Between Interval Estimation and Hypothesis Testing

366

(4)

Population Mean: σ Unknown

370

(10)

One-Tailed Test

371

(1)

Two-Tailed Test

372

(2)

Using Excel

374

(2)

Summary and Practical Advice

376

(4)

Population Proportion

380

(13)

Using Excel

382

(2)

Summary

384

(2)

Summary

386

(1)

Glossary

387

(1)

Key Formulas

387

(1)

Supplementary Exercises

388

(2)

Case Problem 1 Quality Associates, Inc.

390

(2)

Case Problem 2 Unemployment Study

392

(1)

Comparisons Involving Means

393

(57)

Statistics in Practice: Fisons Corporation

394

(1)

Inferences About the Difference Between Two Population Means: σ1 and σ2 Known

395

(10)

Interval Estimation of μ1 - μ2

395

(2)

Using Excel to Construct a Confidence Interval

397

(2)

Hypothesis Tests About μ1 - μ2

399

(2)

Using Excel to Conduct a Hypothesis Test

401

(2)

Practical Advice

403

(2)

Inferences About the Difference Between Two Population Means: σ1 and σ2 Unknown

405

(12)

Interval Estimation of μ1 - μ2

406

(1)

Using Excel to Construct a Confidence Interval

407

(2)

Hypothesis Tests About μ1 - μ2

409

(2)

Using Excel to Conduct a Hypothesis Test

411

(2)

Practical Advice

413

(4)

Inferences About the Difference Between Two Population Means: Matched Samples

417

(7)

Using Excel to Conduct a Hypothesis Test

419

(5)

Introduction to Analysis of Variance

424

(4)

Assumptions for Analysis of Variance

425

(1)

Conceptual Overview

425

(3)

Analysis of Variance: Testing for the Equality of k Population Means

428

(22)

Between-Treatments Estimate of Population Variance

429

(1)

Within-Treatments Estimate of Population Variance

430

(1)

Comparing the Variance Estimates: The F Test

430

(3)

ANOVA Table

433

(1)

Using Excel

433

(6)

Summary

439

(1)

Glossary

439

(1)

Key Formulas

440

(2)

Supplementary Exercises

442

(4)

Case Problem 1 Par, Inc.

446

(1)

Case Problem 2 Wentworth Medical Center

447

(1)

Case Problem 3 Compensation for ID Professionals

448

(2)

Comparisons Involving Proportions and a Test of Independence

450

(34)

Statistics in Practice: United Way

451

(1)

Inferences About the Difference Between Two Population Proportions

452

(9)

Interval Estimation of p1 - p2

452

(2)

Using Excel to Construct a Confidence Interval

454

(2)

Hypothesis Tests About p1 - p2

456

(1)

Using Excel to Conduct a Hypothesis Test

457

(4)

Hypothesis Test for Proportions of a Multinomial Population

461

(8)

Using Excel to Conduct a Goodness of Fit Test

466

(3)

Test of Independence

469

(15)

Using Excel to Conduct a Test of Independence

473

(4)

Summary

477

(1)

Glossary

477

(1)

Key Formulas

478

(1)

Supplementary Exercises

478

(5)

Case Problem A Bipartisan Agenda for Change

483

(1)

Simple Linear Regression

484

(75)

Statistics in Practice: Alliance Data Systems

485

(1)

Simple Linear Regression Model

486

(3)

Regression Model and Regression Equation

486

(1)

Estimated Regression Equation

487

(2)

Least Squares Method

489

(12)

Using Excel to Develop a Scatter Diagram and Compute the Estimated Regression Equation

493

(8)

Coefficient of Determination

501

(9)

Using Excel to Compute the Coefficient of Determination

505

(1)

Correlation Coefficient

505

(5)

Model Assumptions

510

(1)

Testing for Significance

511

(10)

Estimate of σ2

512

(1)

tTest

512

(2)

Confidence Interval for β1

514

(1)

F Test

515

(2)

Some Cautions About the Interpretation of Significance Tests

517

(4)

Excel's Regression Tool

521

(6)

Using Excel's Regression Tool for the Armand's Pizza Parlors Problem

521

(2)

Interpretation of Estimated Regression Equation Output

523

(1)

Interpretation of ANOVA Output

523

(1)

Interpretation of Regression Statistics Output

524

(3)

Using the Estimated Regression Equation for Estimation and Prediction

527

(8)

Point Estimation

527

(1)

Interval Estimation

527

(1)

Confidence Interval Estimate of the Mean Value of y

527

(2)

Prediction Interval Estimate of an Individual Value of y

529

(2)

Using Excel to Develop Confidence and Prediction Interval Estimates

531

(4)

Residual Analysis: Validating Model Assumptions

535

(24)

Residual Plot Against x

536

(3)

Residual Plot Against y

539

(1)

Using Excel's Regression Tool to Construct a Residual Plot

539

(3)

Summary

542

(1)

Glossary

543

(1)

Key Formulas

543

(2)

Supplementary Exercises

545

(6)

Case Problem 1 Spending and Student Achievement

551

(1)

Case Problem 2 U.S. Department of Transportation

552

(1)

Case Problem 3 Alumni Giving

553

(2)

Case Problem 4 Major League Baseball Teams Values

555

(1)

Appendix 12.1 Regression Analysis with SWStat+

555

(4)

Multiple Regression

559

(50)

Statistics in Practice: International Paper

560

(1)

Multiple Regression Model

561

(1)

Regression Model and Regression Equation

561

(1)

Estimated Multiple Regression Equation

561

(1)

Least Squares Method

562

(10)

An Example: Butler Trucking Company

563

(3)

Using Excel's Regression Tool to Develop the Estimated Multiple Regression Equation

566

(1)

Note on Interpretation of Coefficients

567

(5)

Multiple Coefficient of Determination

572

(3)

Model Assumptions

575

(2)

Testing for Significance

577

(7)

F Test

578

(2)

t Test

580

(1)

Multicollinearity

581

(3)

Using the Estimated Regression Equation for Estimation and Prediction

584

(2)

Qualitative Independent Variables

586

(23)

An Example: Johnson Filtration. Inc.

587

(2)

Interpreting the Parameters

589

(2)

More Complex Qualitative Variables

591

(4)

Summary

595

(1)

Glossary

596

(1)

Key Formulas

596

(1)

Supplementary Exercises

597

(6)

Case Problem 1 Consumer Research, Inc.

603

(1)

Case Problem 2 Predicting Student Proficiency Test Scores

604

(1)

Case Problem 3 Alumni Giving

605

(2)

Appendix 13.1 Multiple Regression Analysis with SWStat+

607

(2)

Statistical Methods for Quality Control

609

(37)

Statistics in Practice: Dow Chemical

610

(1)

Philosophies and Frameworks

611

(3)

Malcolm Baldrige National Quality Award

611

(1)

ISO 9000

612

(1)

Six Sigma

612

(2)

Statistical Process Control

614

(17)

Control Charts

615

(1)

x Chart: Process Mean and Standard Deviation Known

616

(2)

x Chart: Process Mean and Standard Deviation Unknown

618

(3)

R Chart

621

(2)

Using Excel to Construct an R Chart and an x Chart

623

(3)

p Chart

626

(2)

np Chart

628

(1)

Interpretation of Control Charts

629

(2)

Acceptance Sampling

631

(15)

KALI, Inc.: An Example of Acceptance Sampling

633

(1)

Computing the Probability of Accepting a Lot

633

(2)

Selecting an Acceptance Sampling Plan

635

(2)

Multiple Sampling Plans

637

(2)

Summary

639

(1)

Glossary

640

(1)

Key Formulas

641

(1)

Supplementary Exercises

642

(4)

Appendix A: References and Bibliography

646

(2)

Appendix B: Tables

648

(11)

Appendix C: Summation Notation

659

(2)

Appendix D: Self-Test Solutions and Answers to Even-Numbered Exercises

661

(30)

Appendix E: Using Excel Functions

691

(6)

Index

697

Amazon no longer offers textbook rentals. We do!

Essentials of Modern Business Statistics (with CD-ROM)

Essentials of Modern Business Statistics (with CD-ROM)

9780324312843

0324312849

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Essentials of Modern Business Statistics (with CD-ROM)

Essentials of Modern Business Statistics (with CD-ROM)

9780324312843

0324312849

Summary

Table of Contents

Supplemental Materials

Write a Review

Related Products