# Statistical techniques in business & economics

, Print BookEnglish, 2018Edition: Seventeenth edition View all formats and editionsPublisher: McGraw-Hill Education, New York, NY, 2018

9781259666360, 9781259921803, 1259666360, 1259921808

Machine generated contents note: Introduction

Why Study Statistics?

What is Meant by Statistics?

Types of Statistics

Descriptive Statistics

Inferential Statistics

Types of Variables

Levels of Measurement

Nominal-Level Data

Ordinal-Level Data

Interval-Level Data

Ratio-Level Data

Exercises

Ethics and Statistics

Basic Business Analytics

Summary

Exercises

Data Analytics

Introduction

Constructing Frequency Tables

Relative Class Frequencies

Graphic Presentation of Qualitative Data

Exercises

Constructing Frequency Distributions

Relative Frequency Distribution

Exercises

Graphic Presentation of a Distribution

Histogram

Frequency Polygon

Exercises

Cumulative Distributions

Exercises

Summary

Exercises

Data Analytics

Introduction

Measures of Location

The Population Mean

The Sample Mean

Properties of the Arithmetic Mean

Exercises

The Median

The Mode

Exercises

The Relative Positions of the Mean, Median, and Mode

Exercises

Software Solution

The Weighted Mean

Exercises

The Geometric Mean

Exercises

Why Study Dispersion?

Range

Variance

Exercises

Population Variance

Population Standard Deviation

Exercises

Sample Variance and Standard Deviation

Software Solution

Exercises

Interpretation and Uses of the Standard Deviation

Chebyshev's Theorem

The Empirical Rule

Exercises

The Mean and Standard Deviation of Grouped Data

Arithmetic Mean of Grouped Data

Standard Deviation of Grouped Data

Exercises

Ethics and Reporting Results

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

Dot Plots

Stem-and-Leaf Displays

Exercises

Measures of Position

Quartiles, Deciles, and Percentiles

Exercises

Box Plots

Exercises

Skewness

Exercises

Describing the Relationship between Two Variables

Contingency Tables

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Problems

Cases

Practice Test

Introduction

What is a Probability?

Approaches to Assigning Probabilities

Classical Probability

Empirical Probability

Subjective Probability

Exercises

Rules of Addition for Computing Probabilities

Special Rule of Addition

Complement Rule

The General Rule of Addition

Exercises

Rules of Multiplication to Calculate Probability

Special Rule of Multiplication

General Rule of Multiplication

Contingency Tables

Tree Diagrams

Exercises

Bayes' Theorem

Exercises

Principles of Counting

The Multiplication Formula

The Permutation Formula

The Combination Formula

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

What is a Probability Distribution?

Random Variables

Discrete Random Variable

Continuous Random Variable

The Mean, Variance, and Standard Deviation of a Discrete Probability Distribution

Mean

Variance and Standard Deviation

Exercises

Binomial Probability Distribution

How Is a Binomial Probability Computed?

Binomial Probability Tables

Exercises

Cumulative Binomial Probability Distributions

Exercises

Hypergeometric Probability Distribution

Exercises

Poisson Probability Distribution

Exercises

Summary

Exercises

Data Analytics

Introduction

The Family of Uniform Probability Distributions

Exercises

The Family of Normal Probability Distributions

The Standard Normal Probability Distribution

Applications of the Standard Normal Distribution

The Empirical Rule

Exercises

Finding Areas under the Normal Curve

Exercises

Exercises

Exercises

The Normal Approximation to the Binomial

Continuity Correction Factor

How to Apply the Correction Factor

Exercises

The Family of Exponential Distributions

Exercises

Summary

Exercises

Data Analytics

Problems

Cases

Practice Test

Introduction

Sampling Methods

Reasons to Sample

Simple Random Sampling

Systematic Random Sampling

Stratified Random Sampling

Cluster Sampling

Exercises

Sampling "Error"

Sampling Distribution of the Sample Mean

Exercises

The Central Limit Theorem

Exercises

Using the Sampling Distribution of the Sample Mean

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

Point Estimate for a Population Mean

Confidence Intervals for a Population Mean

Population Standard Deviation, Known a

A Computer Simulation

Exercises

Population Standard Deviation, a Unknown

Exercises

A Confidence Interval for a Population Proportion

Exercises

Choosing an Appropriate Sample Size

Sample Size to Estimate a Population Mean

Sample Size to Estimate a Population Proportion

Exercises

Finite-Population Correction Factor

Exercises

Summary

Exercises

Data Analytics

Problems

Cases

Practice Test

Introduction

What is Hypothesis Testing?

Six-Step Procedure for Testing a Hypothesis

Step 1: State the Null Hypothesis (H0) and the Alternate Hypothesis (H1)

Step 2: Select a Level of Significance

Step 3: Select the Test Statistic

Step 4: Formulate the Decision Rule

Step 5: Make a Decision

Step 6: Interpret the Result

One-Tailed and Two-Tailed Hypothesis Tests

Hypothesis Testing for a Population Mean: Known Population Standard Deviation

A Two-Tailed Test

A One-Tailed Test

p-Value in Hypothesis Testing

Exercises

Hypothesis Testing for a Population Mean: Population Standard Deviation Unknown

Exercises

A Statistical Software Solution

Exercises

Type II Error

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

Two-Sample Tests of Hypothesis: Independent Samples

Exercises

Comparing Population Means with Unknown Population Standard Deviations

Two-Sample Pooled Test

Exercises

Unequal Population Standard Deviations

Exercises

Two-Sample Tests of Hypothesis: Dependent Samples

Comparing Dependent and Independent Samples

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

Comparing Two Population Variances

The F Distribution

Testing a Hypothesis of Equal Population Variances

Exercises

ANOVA: Analysis of Variance

ANOVA Assumptions

The ANOVA Test

Exercises

Inferences about Pairs of Treatment Means

Exercises

Two-Way Analysis of Variance

Exercises

Two-Way ANOVA with Interaction

Interaction Plots

Testing for Interaction

Hypothesis Tests for Interaction

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Problems

Cases

Practice Test

Introduction

What is Correlation Analysis?

The Correlation Coefficient

Exercises

Testing the Significance of the Correlation Coefficient

Exercises

Regression Analysis

Least Squares Principle

Drawing the Regression Line

Exercises

Testing the Significance of the Slope

Exercises

Evaluating a Regression Equation's Ability to Predict

The Standard Error of Estimate

The Coefficient of Determination

Exercises

Relationships among the Correlation Coefficient, the Coefficient of Determination, and the Standard Error of Estimate

Exercises

Interval Estimates of Prediction

Assumptions Underlying Linear Regression

Constructing Confidence and Prediction Intervals

Exercises

Transforming Data

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

Multiple Regression Analysis

Exercises

Evaluating a Multiple Regression Equation

The ANOVA Table

Multiple Standard Error of Estimate

Coefficient of Multiple Determination

Adjusted Coefficient of Determination

Exercises

Inferences in Multiple Linear Regression

Global Test: Testing the Multiple Regression Model

Evaluating Individual Regression Coefficients

Exercises

Evaluating the Assumptions of Multiple Regression

Linear Relationship

Variation in Residuals Same for Large and Small Si Values

Distribution of Residuals

Multicollinearity

Independent Observations

Qualitative Independent Variables

Regression Models with Interaction

Stepwise Regression

Exercises

Review of Multiple Regression

Summary

Pronunciation Key

Exercises

Data Analytics

Problems

Cases

Practice Test

Introduction

Test a Hypothesis of a Population Proportion

Exercises

Two-Sample Tests about Proportions

Exercises

Goodness-of-Fit Tests: Comparing Observed and Expected Frequency Distributions

Hypothesis Test of Equal Expected Frequencies

Exercises

Hypothesis Test of Unequal Expected Frequencies

Limitations of Chi-Square

Exercises

Testing the Hypothesis That a Distribution is Normal

Exercises

Contingency Table Analysis

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Introduction

The Sign Test

Exercises

Using the Normal Approximation to the Binomial

Exercises

Testing a Hypothesis About a Median

Exercises

Wilcoxon Signed-Rank Test for Dependent Populations

Exercises

Wilcoxon Rank-Sum Test for Independent Populations

Exercises

Kruskal-Wallis Test: Analysis of Variance by Ranks

Exercises

Rank-Order Correlation

Testing the Significance of rs

Exercises

Summary

Pronunciation Key

Exercises

Data Analytics

Problems

Cases

Practice Test

Introduction

Simple Index Numbers

Why Convert Data to Indexes?

Construction of Index Numbers

Exercises

Unweighted Indexes

Simple Average of the Price Indexes

Simple Aggregate Index

Weighted Indexes

Laspeyres Price Index

Paasche Price Index

Fisher's Ideal Index

Exercises

Value Index

Exercises

Special-Purpose Indexes

Consumer Price Index

Producer Price Index Note continued: Dow Jones Industrial Average (DJIA)

Exercises

Consumer Price Index

Special Uses of the Consumer Price Index

Shifting the Base

Exercises

Summary

Exercises

Data Analytics

Introduction

Components of a Time Series

Secular Trend

Cyclical Variation

Seasonal Variation

Irregular Variation

A Moving Average

Weighted Moving Average

Exercises

Linear Trend

Least Squares Method

Exercises

Nonlinear Trends

Exercises

Seasonal Variation

Determining a Seasonal Index

Exercises

Deseasonalizing Data

Using Deseasonalized Data to Forecast

Exercises

The Durbin-Watson Statistic

Exercises

Summary

Exercises

Data Analytics

Problems

Practice Test

Introduction

A Brief History of Quality Control

Six Sigma

Sources of Variation

Diagnostic Charts

Pareto Charts

Fishbone Diagrams

Exercises

Purpose and Types of Quality Control Charts

Control Charts for Variables

Range Charts

In-Control and Out-of-Control Situations

Exercises

Attribute Control Charts

p-Charts

c-Bar Charts

Exercises

Acceptance Sampling

Exercises

Summary

Pronunciation Key

Exercises

Introduction

Elements of a Decision

Decision Making Under Conditions of Uncertainty

Payoff Table

Expected Payoff

Exercises

Opportunity Loss

Exercises

Expected Opportunity Loss

Exercises

Maximin, Maximax, and Minimax Regret Strategies

Value of Perfect Information

Sensitivity Analysis

Exercises

Decision Trees

Summary

Exercises

Appendix A: Data Sets

Appendix B: Tables

Appendix C: Software Commands

Appendix D: Answers to Odd-Numbered Chapter Exercises

Review Exercises

Solutions to Practice Tests

Appendix E: Answers to Self-Review

Revised edition of the authors' Statistical techniques in business & economics, [2015]

Includes index