Business Statistics: Contemporary Decision Making

✍ Scribed by Ken Black

• Publisher: John Wiley and Sons
• Year: 2009
• Tongue: English
• Leaves: 906
• Edition: 6
• Category: Library

✦ Synopsis

Help your students see the light.With its myriad of techniques, concepts and formulas, business statistics can be overwhelming for many students. They can have trouble recognizing the importance of studying statistics, and making connections between concepts.Ken Black's fifth edition of Business Statistics: For Contemporary Decision Making helps students see the big picture of the business statistics course by giving clearer paths to learn and choose the right techniques.Here's how Ken Black helps students see the big picture:Video Tutorials-In these video clips, Ken Black provides students with extra learning assistance on key difficult topics. Available in WileyPLUS.Tree Taxonomy Diagram-Tree Taxonomy Diagram for Unit 3 further illustrates the connection between topics and helps students pick the correct technique to use to solve problems.New Organization-The Fifth Edition is reorganized into four units, which will help professor teach and students see the connection between topics.WileyPLUS-WileyPLUS (not included with this edition) provides everything needed to create an environment where students can reach their full potential and experience the exhilaration of academic success. In addition to a complete online text, online homework, and instant feedback, WileyPLUS offers additional Practice Problems that give students the opportunity to apply their knowledge, and Decision Dilemma Interactive Cases that provide real-world decision-making scenarios.Learn more at www.wiley.co,/college/wileyplus.

✦ Table of Contents

Cover Page......Page 1
Title Page
......Page 7
Copyright Page
......Page 8
Dedication
......Page 9
Brief Contents
......Page 10
Contents......Page 11
Preface
......Page 19
About the Author
......Page 29
UNIT I: INTRODUCTION
......Page 31
1 Introduction to Statistics
......Page 32
Decision Dilemma: Statistics Describe the State of Business in India’s Countryside
......Page 33
1.1 Statistics in Business
......Page 34
1.2 Basic Statistical Concepts
......Page 35
1.3 Data Measurement
......Page 37
Supplementary Problems
......Page 42
Analyzing the Databases
......Page 43
Case: DiGiorno Pizza: Introducing a Frozen Pizza to Compete with Carry-Out
......Page 45
2 Charts and Graphs
......Page 46
Decision Dilemma: Energy Consumption Around
the World
......Page 47
2.1 Frequency Distributions
......Page 48
2.2 Quantitative Data Graphs
......Page 51
2.3 Qualitative Data Graphs
......Page 57
2.4 Graphical Depiction of Two-Variable Numerical Data: Scatter Plots
......Page 63
Supplementary Problems
......Page 66
Case: Soap Companies Do Battle
......Page 70
Using the Computer
......Page 71
3 Descriptive Statistics
......Page 76
3.1 Measures of Central Tendency: Ungrouped Data
......Page 77
3.2 Measures of Variability: Ungrouped
Data
......Page 85
3.3 Measures of Central Tendency and
Variability: Grouped Data
......Page 100
3.4 Measures of Shape
......Page 107
3.5 Descriptive Statistics on the Computer
......Page 111
Summary
......Page 113
Formulas
......Page 114
Supplementary Problems
......Page 115
Case: Coca-Cola Goes Small in Russia
......Page 119
Using the Computer
......Page 121
4 Probability......Page 122
Decision Dilemma: Equity of the Sexes in the
Workplace
......Page 123
4.2 Methods of Assigning Probabilities
......Page 124
4.3 Structure of Probability
......Page 126
4.4 Marginal, Union, Joint, and Conditional
Probabilities
......Page 131
4.5 Addition Laws
......Page 133
4.6 Multiplication Laws
......Page 141
4.7 Conditional Probability
......Page 146
4.8 Revision of Probabilities: Bayes’ Rule
......Page 153
Key Terms
......Page 158
Supplementary Problems
......Page 159
Analyzing the Databases
......Page 162
Case: Colgate-Palmolive Makes a “Total” Effort
......Page 163
UNIT II: DISTRIBUTIONS AND SAMPLING......Page 165
5 Discrete Distributions
......Page 166
Decision Dilemma: Life with a Cell Phone
......Page 167
5.1 Discrete Versus Continuous Distributions
......Page 168
5.2
Describing a Discrete Distribution......Page 169
5.3
Binomial Distribution......Page 173
5.4 Poisson Distribution
......Page 184
5.5 Hypergeometric Distribution
......Page 194
Key Terms
......Page 199
Supplementary Problems
......Page 200
Case: Kodak Transitions Well into the Digital Camera Market
......Page 205
Using the Computer
......Page 206
6 Continuous Distributions
......Page 208
6.1 The Uniform Distribution
......Page 209
6.2 Normal Distribution
......Page 214
6.3 Using the Normal Curve to Approximate
Binomial Distribution Problems
......Page 226
6.4 Exponential Distribution
......Page 232
Summary
......Page 237
Supplementary Problems
......Page 238
Case: Mercedes Goes After Younger
Buyers
......Page 242
Using the Computer
......Page 243
7 Sampling and Sampling
Distributions
......Page 246
7.1 Sampling
......Page 247
7.2 Sampling Distribution of x bar
......Page 258
7.3 Sampling Distribution of p circumflex......Page 267
Summary
......Page 271
Supplementary Problems
......Page 272
Case: Shell Attempts to Return to Premiere Status
......Page 275
Using the Computer
......Page 276
UNIT III: MAKING INFERENCES ABOUT POPULATION PARAMETERS......Page 277
8 Statistical Inference: Estimation
for Single Populations
......Page 280
Decision Dilemma: Compensation for Purchasing Managers......Page 281
8.1 Estimating the Population Mean Using the z Statistic (σ Known)
......Page 283
8.2 Estimating the Population Mean Using the t Statistic
(σ Unknown)......Page 290
8.3 Estimating the Population Proportion
......Page 297
8.4 Estimating the Population Variance
......Page 301
8.5 Estimating Sample Size
......Page 305
Formulas
......Page 310
Supplementary Problems
......Page 311
Case: Thermatrix
......Page 314
Using the Computer
......Page 315
9 Statistical Inference: Hypothesis Testing for Single Populations
......Page 318
Decision Dilemma: Word-of-Mouth Business Referrals and Influentials
......Page 319
9.1 Introduction to Hypothesis Testing
......Page 320
9.2 Testing Hypotheses About a Population Mean Using the z Statistic (σ Known)
......Page 329
9.3 Testing Hypotheses About a
Population Mean Using the t Statistic (σ Unknown)
......Page 338
9.4 Testing Hypotheses About a Proportion
......Page 345
9.5 Testing Hypotheses About a Variance
......Page 351
9.6 Solving for Type II Errors
......Page 354
Summary
......Page 364
Supplementary Problems
......Page 365
Analyzing the Databases
......Page 368
Case: Frito-Lay Targets the Hispanic Market
......Page 369
Using the Computer
......Page 370
10 Statistical Inferences about Two Populations
......Page 372
Decision Dilemma: Online Shopping
......Page 373
10.1 Hypothesis Testing and Confidence Intervals
About the Difference in Two Means Using the
z Statistic (Population Variances Known)
......Page 376
10.2 Hypothesis Testing and Confidence Intervals
About the Difference in Two Means:
Independent Samples and Population
Variances Unknown
......Page 385
10.3 Statistical Inferences for Two Related
Populations
......Page 395
10.4 Statistical Inferences About Two Population Proportions, p1 – p2
......Page 405
10.5 Testing Hypotheses About Two Population
Variances
......Page 412
Formulas
......Page 421
Supplementary Problems
......Page 422
Case: Seitz Corporation: Producing Quality Gear-Driven and L
inear-Motion Products......Page 427
Using the Computer
......Page 428
11 Analysis of Variance and Design of Experiments
......Page 432
Decision Dilemma: Job and Career Satisfaction of Foreign
Self-Initiated Expatriates
......Page 433
11.1 Introduction to Design of Experiments
......Page 434
11.2 The Completely Randomized Design
(One-Way ANOVA)
......Page 436
11.3 Multiple Comparison Tests
......Page 448
11.4 The Randomized Block Design
......Page 456
11.5 A Factorial Design (Two-Way ANOVA)
......Page 466
Summary
......Page 483
Formulas
......Page 484
Supplementary Problems
......Page 485
Analyzing the Databases
......Page 488
Case: The Clarkson Company: A Division of Tyco
International
......Page 489
Using the Computer
......Page 490
UNIT IV: REGRESSION ANALYSIS
AND FORECASTING......Page 493
12 Simple Regression Analysis and Correlation
......Page 494
Decision Dilemma: Predicting International Hourly
Wages by the Price of a Big Mac
......Page 495
12.1 Correlation
......Page 496
12.2 Introduction to Simple Regression Analysis
......Page 499
12.3 Determining the Equation of
the Regression Line
......Page 500
12.4 Residual Analysis
......Page 507
12.5 Standard Error of the Estimate
......Page 514
12.6 Coefficient of Determination
......Page 517
12.7 Hypothesis Tests for the Slope of the
Regression Model and Testing the Overall
Model
......Page 519
12.8 Estimation
......Page 524
12.9 Using Regression to Develop a Forecasting
Trend Line
......Page 528
12.10 Interpreting the Output
......Page 534
Summary
......Page 538
Supplementary Problems
......Page 539
Case: Delta Wire Uses Training as a Weapon
......Page 543
Using the Computer
......Page 545
13 Multiple Regression Analysis
......Page 546
Decision Dilemma: Are You Going to Hate Your
New Job?
......Page 547
13.1 The Multiple Regression Model
......Page 548
13.2 Significance Tests of the Regression Model
and Its Coefficients
......Page 555
13.3 Residuals, Standard Error of the Estimate, and R2
......Page 560
13.4 Interpreting Multiple Regression Computer
Output
......Page 565
Summary
......Page 569
Supplementary Problems
......Page 570
Case: Starbucks Introduces Debit Card
......Page 573
Using the Computer
......Page 574
14 Building Multiple Regression Models
......Page 576
Decision Dilemma: Determining Compensation
for CEOs
......Page 577
14.1 Nonlinear Models: Mathematical
Transformation
......Page 578
14.2 Indicator (Dummy) Variables
......Page 590
14.3 Model-Building: Search Procedures
......Page 596
14.4 Multicollinearity
......Page 606
Summary
......Page 610
Supplementary Problems
......Page 611
Analyzing the Databases
......Page 614
Case: Virginia Semiconductor
......Page 615
Using the Computer
......Page 616
15 Time-Series Forecasting and Index Numbers
......Page 618
Decision Dilemma: Forecasting Air Pollution
......Page 619
15.1 Introduction to Forecasting
......Page 620
15.2 Smoothing Techniques
......Page 624
15.3 Trend Analysis
......Page 634
15.4 Seasonal Effects
......Page 641
15.5 Autocorrelation and Autoregression
......Page 646
15.6 Index Numbers
......Page 653
Summary
......Page 662
Supplementary Problems
......Page 663
Analyzing the Databases
......Page 668
Case: Debourgh Manufacturing Company
......Page 669
Using the Computer
......Page 670
UNIT V: NONPARAMETRIC
STATISTICS
AND QUALITY......Page 673
16 Analysis of Categorical Data
......Page 674
Decision Dilemma: Selecting Suppliers in the Electronics
Industry
......Page 675
16.1 Chi-Square Goodness-of-Fit Test
......Page 676
16.2 Contingency Analysis: Chi-Square Test
of Independence
......Page 686
Supplementary Problems
......Page 696
Case: Foot Locker in the Shoe Mix
......Page 698
Using the Computer
......Page 699
17 Nonparametric Statistics
......Page 700
Decision Dilemma: How Is the Doughnut
Business?
......Page 701
17.1 Runs Test
......Page 703
17.2 Mann-Whitney U Test
......Page 708
17.3 Wilcoxon Matched-Pairs Signed
Rank Test
......Page 716
17.4 Kruskal-Wallis Test
......Page 724
17.5 Friedman Test
......Page 729
17.6 Spearman’s Rank Correlation
......Page 735
Summary
......Page 740
Supplementary Problems
......Page 741
Analyzing the Databases
......Page 746
Case: Schwinn
......Page 747
Using the Computer
......Page 748
18 Statistical Quality Control
......Page 750
Decision Dilemma: Italy’s Piaggio Makes a Comeback
......Page 751
18.1 Introduction to Quality Control
......Page 752
18.2 Process Analysis
......Page 763
18.3 Control Charts
......Page 769
Summary
......Page 786
Formulas
......Page 787
Supplementary Problems
......Page 788
Analyzing the Databases
......Page 791
Case: Robotron-ELOTHERM
......Page 792
Using the Computer
......Page 793
19 Decision Analysis
......Page 868
Decision Dilemma: Decision Making at the CEO Level
......Page 869
19.1 The Decision Table and Decision Making
Under Certainty
......Page 870
19.2 Decision Making Under Uncertainty
......Page 872
19.3 Decision Making Under Risk
......Page 880
19.4 Revising Probabilities in Light of Sample
Information
......Page 888
Summary
......Page 898
Supplementary Problems
......Page 899
Case: Fletcher-Terry: On the Cutting Edge
......Page 902
A Tables
......Page 795
B Answers to Selected Odd-Numbered Quantitative Problems......Page 835
GLOSSARY
......Page 845
INDEX......Page 855

✦ Subjects

Финансово-экономические дисциплины;Статистический анализ экономических данных;