Business Statistics

For Contemporary Decision Making, EMEA Edition

Häftad, Engelska, 2020

Av Ken Black, TX) Black, Ken (University of Houston, Clear Lake

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Business Statistics continues the tradition of presenting and explaining the wonders of business statistics through a clear, complete, student-friendly pedagogy. In this 10th edition, author Ken Black uses current real-world data to equip students with the business analytics techniques and quantitative decision-making skills required to make smart decisions in today’s workplace.

Produktinformation

Utgivningsdatum2020-02-10
Mått10 x 10 x 10 mm
Vikt454 g
FormatHäftad
SpråkEngelska
Antal sidor832
Upplaga10
FörlagJohn Wiley & Sons Inc
ISBN9781119668015

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Preface viiAbout the Author xv1 Introduction to Statistics and Business Analytics 1Decision Dilemma: Statistics Describe the State of Business in India’s Countryside 11.1 Basic Statistical Concepts 31.2 Data Measurement 61.3 Introduction to Business Analytics 9Thinking Critically About Statistics in Business Today 15Decision Dilemma Solved 15Ethical Considerations 15Summary / Key Terms / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Digiorno Pizza: Introducing a Frozen Pizza to Compete with Carry-Out 20Big Data Case 20References 212 Visualizing Data with Charts and Graphs 22Decision Dilemma: Container Shipping Companies 222.1 Frequency Distributions 242.2 Quantitative Data Graphs 272.3 Qualitative Data Graphs 34Thinking Critically About Statistics in Business Today 382.4 Charts and Graphs for Two Variables 412.5 Visualizing Time-Series Data 44Decision Dilemma Solved 47Ethical Considerations 48Summary / Key Terms / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Southwest Airlines 54Big Data Case 553 Descriptive Statistics 56Decision Dilemma: Laundry Statistics 563.1 Measures of Central Tendency 573.2 Measures of Variability 65Thinking Critically About Statistics in Business Today 67Thinking Critically About Statistics in Business Today 763.3 Measures of Shape 783.4 Business Analytics Using Descriptive Statistics 81Decision Dilemma Solved 84Ethical Considerations 84Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Coca-Cola Develops the African Market 89Big Data Case 914 Probability 92Decision Dilemma: Equity of the Sexes in the Workplace 924.1 Introduction to Probability 934.2 Structure of Probability 964.3 Marginal, Union, Joint, and Conditional Probabilities 101Thinking Critically About Statistics in Business Today 1024.4 Addition Laws 1034.5 Multiplication Laws 1104.6 Conditional Probability 115Thinking Critically About Statistics in Business Today 1184.7 Revision of Probabilities: Bayes’ Rule 121Decision Dilemma Solved 125Ethical Considerations 126Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Colgate-Palmolive Makes a “Total” Effort 131Big Data Case 1315 Discrete Distributions 132Decision Dilemma: Life with a Cell Phone 1325.1 Discrete Versus Continuous Distributions 1335.2 Describing a Discrete Distribution 1355.3 Binomial Distribution 138Thinking Critically About Statistics in Business Today 1475.4 Poisson Distribution 149Thinking Critically About Statistics in Business Today 1535.5 Hypergeometric Distribution 157Decision Dilemma Solved 161Ethical Considerations 162Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Whole Foods Market Grows Through Mergers and Acquisitions 168Big Data Case 1686 Continuous Distributions 169Decision Dilemma: CSX Corporation 1696.1 The Uniform Distribution 1716.2 Normal Distribution 175Thinking Critically About Statistics in Business Today 1856.3 Using the Normal Curve to Approximate Binomial Distribution Problems 187Thinking Critically About Statistics in Business Today 1936.4 Exponential Distribution 194Decision Dilemma Solved 197Ethical Considerations 198Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: USAA 203Big Data Case 2037 Sampling and Sampling Distributions 205Decision Dilemma: Toro 2057.1 Sampling 206Thinking Critically About Statistics in Business Today 208Thinking Critically About Statistics in Business Today 2147.2 Sampling Distribution of x̄ 2177.3 Sampling Distribution of p 227Decision Dilemma Solved 230Ethical Considerations 230Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: 3M 234Big Data Case 2358 Statistical Inference: Estimation for Single Populations 236Decision Dilemma: Batteries and Bulbs: How Long Do They Last? 2368.1 Estimating the Population Mean Using the z Statistic (σ Known) 2388.2 Estimating the Population Mean Using the t Statistic (σ Unknown) 245Thinking Critically About Statistics in Business Today 2508.3 Estimating the Population Proportion 251Thinking Critically About Statistics in Business Today 2528.4 Estimating the Population Variance 2558.5 Estimating Sample Size 259Decision Dilemma Solved 262Ethical Considerations 263Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: The Container Store 267Big Data Case 2689 Statistical Inference: Hypothesis Testing for Single Populations 269Decision Dilemma: Valero Energy 2699.1 Introduction to Hypothesis Testing 270Thinking Critically About Statistics in Business Today 2739.2 Testing Hypotheses About a Population Mean Using the z Statistic (σ Known) 2799.3 Testing Hypotheses About a Population Mean Using the t Statistic (σ Unknown) 2879.4 Testing Hypotheses About a Proportion 294Thinking Critically About Statistics in Business Today 2979.5 Testing Hypotheses About a Variance 3009.6 Solving for Type II Errors 303Decision Dilemma Solved 311Ethical Considerations 312Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Frito-Lay Targets the Hispanic Market 316Big Data Case 31710 Statistical Inferences About Two Populations 318Decision Dilemma: L. L. Bean 31810.1 Hypothesis Testing and Confidence Intervals About the Difference in Two Means Using the z Statistic (Population Variances Known) 32110.2 Hypothesis Testing and Confidence Intervals About the Difference in Two Means: Independent Samples and Population Variances Unknown 329Thinking Critically About Statistics in Business Today 33710.3 Statistical Inferences for Two Related Populations 33910.4 Statistical Inferences About Two Population Proportions, p1 − p2 34810.5 Testing Hypotheses About Two Population Variances 355Decision Dilemma Solved 363Ethical Considerations 364Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Five Guys 370Big Data Case 37111 Analysis of Variance and Design of Experiments 372Decision Dilemma: Job and Career Satisfaction of Foreign Self-Initiated Expatriates 37211.1 Introduction to Design of Experiments 37311.2 The Completely Randomized Design (One-Way ANOVA) 37611.3 Multiple Comparison Tests 387Thinking Critically About Statistics in Business Today 39511.4 The Randomized Block Design 39611.5 A Factorial Design (Two-Way ANOVA) 405Decision Dilemma Solved 418Ethical Considerations 419Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: The Clarkson Company: A Division of Tyco International 425Big Data Case 42612 Simple Regression Analysis and Correlation 427Decision Dilemma: Predicting International Hourly Wages by the Price of a Big Mac 42712.1 Correlation 42812.2 Introduction to Simple Regression Analysis 43212.3 Determining the Equation of the Regression Line 43312.4 Residual Analysis 43912.5 Standard Error of the Estimate 44612.6 Coefficient of Determination 44912.7 Hypothesis Tests for the Slope of the Regression Model and Testing the Overall Model 451Thinking Critically About Statistics in Business Today 45312.8 Estimation 45612.9 Using Regression to Develop a Forecasting Trend Line 46012.10 Interpreting the Output 466Decision Dilemma Solved 468Ethical Considerations 469Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Caterpillar, Inc. 475Big Data Case 47613 Multiple Regression Analysis 477Decision Dilemma: Are You Going to Hate Your New Job? 47713.1 The Multiple Regression Model 47813.2 Significance Tests of the Regression Model and Its Coefficients 48513.3 Residuals, Standard Error of the Estimate, and R2 489Thinking Critically About Statistics in Business Today 49413.4 Interpreting Multiple Regression Computer Output 495Decision Dilemma Solved 497Ethical Considerations 498Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Starbucks Introduces Debit Card 502Big Data Case 50314 Building Multiple Regression Models 504Decision Dilemma: Predicting CEO Salaries 50414.1 Nonlinear Models: Mathematical Transformation 50514.2 Indicator (Dummy) Variables 518Thinking Critically About Statistics in Business Today 52114.3 Model-Building: Search Procedures 52214.4 Multicollinearity 53214.5 Logistic Regression 535Decision Dilemma Solved 542Ethical Considerations 543Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Virginia Semiconductor 548Big Data Case 55015 Time-Series Forecasting and Index Numbers 551Decision Dilemma: Forecasting Air Pollution 55115.1 Introduction to Forecasting 55215.2 Smoothing Techniques 557Thinking Critically About Statistics in Business Today 56615.3 Trend Analysis 56715.4 Seasonal Effects 57415.5 Autocorrelation and Autoregression 58115.6 Index Numbers 587Decision Dilemma Solved 594Ethical Considerations 596Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Debourgh Manufacturing Company 602Big Data Case 60416 Analysis of Categorical Data 605Decision Dilemma: Selecting Suppliers in the Electronics Industry 60516.1 Chi-Square Goodness-of-Fit Test 60616.2 Contingency Analysis: Chi-Square Test of Independence 613Thinking Critically About Statistics in Business Today 619Decision Dilemma Solved 620Ethical Considerations 620Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics Chapter Case: Foot Locker in the Shoe Mix 623Big Data Case 62417 Nonparametric Statistics 625Decision Dilemma: How is the Doughnut Business? 62517.1 Runs Test 62817.2 Mann-Whitney U Test 63217.3 Wilcoxon Matched-Pairs Signed Rank Test 63917.4 Kruskal-Wallis Test 647Thinking Critically About Statistics in Business Today 65117.5 Friedman Test 65117.6 Spearman’s Rank Correlation 656Decision Dilemma Solved 659Ethical Considerations 660Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Schwinn 666Big Data Case 66718 Statistical Quality Control 668Decision Dilemma: Italy’s Piaggio Makes a Comeback 66818.1 Introduction to Quality Control 669Thinking Critically About Statistics in Business Today 67818.2 Process Analysis 67918.3 Control Charts 686Decision Dilemma Solved 701Ethical Considerations 702Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Standard Motor Products 708Big Data Case 70919 Decision Analysis 710Decision Dilemma: Decision-making at the CEO Level 71019.1 The Decision Table and Decision-making Under Certainty 71119.2 Decision-making Under Uncertainty 713Thinking Critically About Statistics in Business Today 71719.3 Decision-making Under Risk 72019.4 Revising Probabilities in Light of Sample Information 729Decision Dilemma Solved 737Ethical Considerations 737Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business AnalyticsChapter Case: Fletcher-Terry: On The Cutting Edge 741Big Data Case 742Appendix A Tables 743Appendix B Answers to Selected Odd-Numbered Quantitative Problems 784Glossary 793Index 801