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More About This Title An Essential Guide to Business Statistics
English
An Essential Guide to Business Statistics offers a clear and concise introduction for business students studying statistics for the first time. It helps them to become proficient in using statistical techniques and interpreting their results within a business content and will enable them to have a better understanding of customers, decision making and planning for the future.
This is an ideal resource for undergraduate business students taking introductory modules in business statistics or quantitative methods. Accompanying the text is a rich supporting website which contains additional teaching and learning materials including slides for each chapter, tutorials in excel, self-test quizzes and student practice projects at varying difficulty levels.
English
Dawn Willoughby is an award-winning writer and lecturer in statistics at the University of Reading, where she teaches students on a wide range of undergraduate programmes in areas including business management, statistics, mathematics, psychology, information systems and computer science. She is a qualified mathematics teacher with a degree in Statistics and Computer Science, and has achieved professional recognition as a Fellow of the Higher Education Academy, and is currently working on a Master’s degree in Education.
English
Preface ix
About the Author xi
Chapter 1 Introduction 1
Collection 1
Analysis 2
Interpretation 2
Presentation 2
Terminology 2
Using Excel 3
Chapter 2 Data Collection 13
Introduction 13
Terminology 14
Primary and Secondary Data 15
Sampling Methods 15
Data Collection Techniques 23
Understanding Bias 28
Hints and Tips 28
Practice Exercises 29
Solutions to Practice Exercises 35
Chapter 3 Data Distributions 43
Introduction 43
Frequency Distributions 44
Relative Frequency 47
Cumulative Frequency 48
Cumulative Relative Frequency 49
Grouped Frequency Distributions 50
Numerical Class Characteristics 54
Which Distribution? 57
Hints and Tips 58
Practice Exercises 59
Solutions to Practice Exercises 71
Chapter 4 Graphical Representation 85
Introduction 85
Bar Charts 86
Pie Charts 88
Stem and Leaf Diagrams 90
Histograms 93
Time Series Plots 95
Scatter Diagrams 97
Hints and Tips 98
Using Excel 100
Practice Exercises 104
Solutions to Practice Exercises 116
Chapter 5 Measures of Central Tendency 125
Introduction 125
The Mode 126
The Mean 127
The Median 131
Advantages and Disadvantages 134
Which Measure? 135
Hints and Tips 136
Using Excel 137
Practice Exercises 143
Solutions to Practice Exercises 156
Chapter 6 Measures of Dispersion 163
Introduction 163
Range 164
Quartiles and the Interquartile Range 165
Five-Number Summary 167
Box Plots 168
Variance and Standard Deviation 172
Coefficient of Variation 178
Hints and Tips 180
Using Excel 181
Practice Exercises 184
Solutions to Practice Exercises 196
Chapter 7 Correlation 203
Introduction 203
Scatter Diagrams 204
Correlation Coefficient 205
Rank Correlation Coefficient 211
Cause and Effect 212
Hints and Tips 213
Using Excel 213
Practice Exercises 215
Solutions to Practice Exercises 228
Chapter 8 Simple Linear Regression 245
Introduction 245
Independent and Dependent Variables 246
Linear Equations 246
Simple Linear Regression Model 248
Finding the Line of Best Fit 249
Making Predictions 252
Interpolation and Extrapolation 253
Interpretation 253
Hints and Tips 254
Using Excel 256
Practice Exercises 257
Solutions to Practice Exercises 267
Chapter 9 Probability 279
Introduction 280
Terminology 280
Approaches to Probability 281
Basic Properties 284
Probability Model 285
Venn Diagrams 286
Mutually Exclusive Events 287
Independent Events 287
Complement Rule 288
Intersection and Union 289
Addition Rule 290
Conditional Probability 292
Multiplication Rule 293
Hints and Tips 294
Practice Exercises 296
Solutions to Practice Exercises 303
Chapter 10 Introducing Statistical Inference 309
Introduction 309
Random Variables 310
Discrete and Continuous Random Variables 310
Probability Distributions 311
Normal Distribution 313
The Standard Normal Distribution 315
Population Parameters and Sample Statistics 321
Point and Interval Estimates 323
Hints and Tips 326
Practice Exercises 327
Solutions to Practice Exercises 333
Appendix: The Standard Normal Distribution 341
Glossary 345
Index 351
