Statistics for Business & Economics, Global Edition (14^th Ed.)

Statistics for Business and Economics introduces statistics in the context of contemporary business. Emphasising statistical literacy in thinking, the text applies its concepts with real data and uses technology to develop a deeper conceptual understanding. Examples, activities, and case studies foster active learning in the classroom while emphasising intuitive concepts of probability and teaching students to make informed business decisions. The 14th Edition continues to highlight the importance of ethical behaviour in collecting, interpreting, and reporting on data, while also providing a wealth of new and updated exercises and case studies.

1. Statistics, Data, and Statistical Thinking

2. Methods for Describing Sets of Data

3. Probability

4. Random Variables and Probability Distributions

5. Sampling Distributions

6. Inferences Based on a Single Sample: Estimation with ConfidenceIntervals

7. Inferences Based on a Single Sample: Tests of Hypotheses

8. Inferences Based on Two Samples: Confidence Intervals and Testsof Hypotheses

9. Design of Experiments and Analysis of Variance

10. Categorical Data Analysis

11. Simple Linear Regression

12. Multiple Regression and Model Building

13. Methods for Quality Improvement: Statistical Process Control(Available Online)

14. Time Series: Descriptive Analyses, Models, and Forecasting(Available Online)

15. Nonparametric Statistics (Available Online)

Appendix A: Summation Notation

Appendix B: Basic Counting Rules

Appendix C: Calculation Formulas for Analysis of Variance

C.1 Formulas for the Calculationsin the Completely Randomized Design

C.2 Formulas for the Calculationsin the Randomized Block Design

C.3 Formulas for the Calculationsfor a Two-Factor Factorial Experiment

C.4 Tukey's Multiple ComparisonsProcedure (Equal Sample Sizes)

C.5 Bonferroni MultipleComparisons Procedure (Pairwise Comparisons)

C.6 Scheffé's MultipleComparisons Procedure (Pairwise Comparisons)

Appendix D: Tables
 

Answers to Selected Exercises

Index

Credits 

Dr. Jim McClave is currently President and CEO ofInfo Tech, Inc., a statistical consulting and software development firm with aninternational clientele. He is also a Courtesy Professor ofStatistics at the University of Florida, where he was a full-time member of thefaculty for over 20 years.

Dr. Terry Sincich obtained his PhD inStatistics from the University of Florida in 1980. He is a ProfessorEmeritus of the Information Systems & Decision SciencesDepartment at the University of South Florida in Tampa, where hewas responsible for teaching basic statistics to all undergraduates, aswell as advanced statistics to all doctoral candidates, in the College ofBusiness Administration. He has published articles in such journals asthe Journal of the American Statistical Association, InternationalJournal of Forecasting, Academy of Management Journal,and Auditing: A Journal of Practice & Theory.Dr. Sincich is a co-author of the texts: Statistics, Statisticsfor Business & Economics, Statistics for Engineering & theSciences, and A Second Course in Statistics: Regression Analysis.

Hallmark exercises, applications, and activities

• Data-based applications and examples introduce and illustrate new ideas, helping students understand definitions, generalizations, and theoretical concepts. All examples have three components: "Problem,” "Solution,” and "Look Back" (or "Look Ahead"). This step-by-step process provides students with a defined structure by which to approach problems and enhances their problem-solving skills. The "Look Back/Look Ahead" feature often gives helpful hints for solving the problem and/or provides a further reflection or insight into the concept or procedure that is covered.
• REVISED -More than 1,200 exercises are included, with revisions and updates to 30%. Many new and updated exercises, based on contemporary business-related studies and real data, have been added. Most of these exercises foster critical-thinking skills.
• REVISED -Data-informed development. The authors analyzed aggregated student usage and performance data from MyLab® Statistics for the previous edition. The results helped improve the quality and quantity of exercises that matter most to instructors and students.
• All exercise sections are divided into at least four parts:
• Learning the Mechanics: Designed as straightforward applications of new concepts, these exercises allow students to test their ability to comprehend a mathematical concept or a definition.
• Applying the Concepts—Basic: Based on applications taken from a wide variety of business journals, newspapers, and other sources, these short exercises help students to begin developing the skills necessary to diagnose and analyze real-world problems.
• Applying the Concepts—Intermediate: Based on more detailed real-world applications, these exercises require students to apply their knowledge of the technique pr