Statistical Thinking in Business

ISBN-10: 1584884959
ISBN-13: 9781584884958
Edition: 2nd 2005 (Revised)
List price: $86.95
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Description: Business students need the ability to think statistically about how to deal with uncertainty and its effect on decision-making in business and management. Traditional statistics courses and textbooks tend to focus on probability, mathematical  More...

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Book details

List price: $86.95
Edition: 2nd
Copyright year: 2005
Publisher: CRC Press LLC
Publication date: 8/29/2005
Binding: Paperback
Pages: 408
Size: 7.00" wide x 9.75" long x 1.00" tall
Weight: 1.628
Language: English

Business students need the ability to think statistically about how to deal with uncertainty and its effect on decision-making in business and management. Traditional statistics courses and textbooks tend to focus on probability, mathematical detail, and heavy computation, and thus fail to meet the needs of future managers.Statistical Thinking in Business, Second Edition responds to the growing recognition that we must change the way business statistics is taught. It shows how statistics is important in all aspects of business and equips students with the skills they need to make sensible use of data and other information. The authors take an interactive, scenario-based approach and use almost no mathematical formulas, opting to use Excel for the technical work. This allows them to focus on using statistics to aid decision-making rather than how to perform routine calculations.New in the Second Edition: A completely revised chapter on forecasting Re-arrangement of the material on data presentation with the inclusion of histograms and cumulative line plots A more thorough discussion of the analysis of attribute data Coverage of variable selection and model building in multiple regression End of chapter summaries More end of chapter problems A variety of case studies throughout the bookThe second edition also comes with a wealth of ancillary materials provided on a CD-ROM packaged with the book. These include automatically-marked multiple-choice questions, answers to questions in the text, data sets, Excel experiments and demonstrations, an introduction to Excel, and the StiBstat Add-In for stem and leaf plots, box plots, distribution plots, control charts and summary statistics. Solutions to end-of-chapter exercises and powerpoint slides for lecturers are available directly from the publisher.

Variation
Problem solving
Looking at data
Modelling data
Attribute data
Sampling
Estimation
Regression analysis
Multiple regression
Forecasting
Statistical process control
Control charts
Improvement strategies
Normal distribution
Percentage points of the normal distribution
Percentage points of the t-distribution
Percentage points of the [Chi][superscript 2]-distribution
Random numbers

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