Business Statistics: For Contemporary Decision Making, 11ed (An Indian Adaptation)
Description
Business Statistics uses current real-world data to equip students with the business analytics techniques and quantitative decision-making skills required to make more thoughtful, information-based decisions in today's workplace. Helping the student understand business analytics and the role that business statistics plays in it, the book has infused the language of business analytics along with its definitions, approaches, and explanations throughout the text.
Continuing the tradition of presenting and explaining business statistics using clear, complete, and student-friendly pedagogy, this Indian edition includes new chapter cases reinforcing the vibrancy and relevance of statistics. In addition, topical changes have been made in select chapters and problems have been revised in all the chapters.
Table of Contents
1 Introduction to Statistics and Business Analytics
Decision Dilemma: Statistics Describe the State of Business in India’s Countryside
1.1 Basic Statistical Concepts
1.2 Data Measurement
1.3 Introduction to Business Analytics
Thinking Critically About Statistics in Business Today
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: DiGiorno Pizza: Introducing a Frozen Pizza to Compete with Carry-Out
Big Data Case
Endnotes
2 Visualizing Data with Charts and Graphs
Decision Dilemma: Container Shipping Companies
2.1 Frequency Distributions
2.2 Measures of Variability
2.3 Qualitative Data Graphs
Thinking Critically About Statistics in Business Today
2.4 Charts and Graphs for Two Variables
2.5 Visualizing Time-Series Data
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Southwest Airlines
Big Data Case
Endnotes
3 Descriptive Statistics
Decision Dilemma: Laundry Statistics
3.1 Measures of Central Tendency
3.2 Measures of Variability
Thinking Critically About Statistics in Business Today
Thinking Critically About Statistics in Business Today
3.3 Measures of Shape
3.4 Business Analytics Using Descriptive Statistics
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Economic Dynamism and Rubber Output of Malaysia: The Largest Gloves-Producing Country
Big Data Case
Endnotes
4 Probability
Decision Dilemma: Sexual Equity in the Workplace
4.1 Introduction to Probability
4.2 Structure of Probability
4.3 Marginal, Union, Joint, and Conditional Probabilities
Thinking Critically About Statistics in Business Today
4.4 Addition Laws
4.5 Multiplication Laws
4.6 Conditional Probability
Thinking Critically About Statistics in Business Today
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Electric Vehicle (EV) Cars in Germany: Prospects and Challenges
Big Data Case
5 Discrete Random Variables and Their Probability Distributions
Decision Dilemma: Life with a Cell Phone
5.1 Discrete Random Variables
5.2 Describing a Discrete Distribution
5.3 Binomial Distribution
Thinking Critically About Statistics in Business Today
5.4 Poisson Distribution
Thinking Critically About Statistics in Business Today
5.5 Geometric Distribution
5.6 Hypergeometric Distribution
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Nestlé in Argentina
Big Data Case
Endnote
6 Continuous Random Variables and Normal Distributions
Decision Dilemma: CSX Corporation
6.1 Continuous Random Variables
6.2 The Uniform Distribution
6.3 Normal Distribution
Thinking Critically About Statistics in Business Today
6.4 Using the Normal Curve to Approximate Binomial Distribution Problems
Thinking Critically About Statistics in Business Today
6.5 Exponential Distribution
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: USAA
Big Data Case
Endnotes
7 Sampling and Sampling Distributions
Decision Dilemma: Toro
7.1 Sampling
Thinking Critically About Statistics in Business Today
Thinking Critically About Statistics in Business Today
7.2 Sampling Distribution of the Sample Mean
7.3 Sampling Distribution of a Sample Proportion
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: 3M
Big Data Case
Endnotes
8 Statistical Inference: Estimation for Single Populations
Decision Dilemma: Batteries and Bulbs: How Long Do They Last?
8.1 Estimating the Population Mean Using the z Statistic (σ Known)
8.2 Estimating the Population Mean Using the t Statistic (σ Unknown)
Thinking Critically About Statistics in Business Today
8.3 Estimating the Population Proportion
Thinking Critically About Statistics in Business Today
8.4 Estimating the Population Variance
8.5 Estimating Sample Size
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: The Container Store
Big Data Case
Endnotes
9 Statistical Inference: Hypothesis Testing for Single Populations
Decision Dilemma: Valero Energy
9.1 Introduction to Hypothesis Testing
Thinking Critically About Statistics in Business Today
9.2 Testing Hypotheses About a Population Mean Using the z Statistic (σ Known)
9.3 Testing Hypotheses About a Population Mean Using the t Statistic (σ Unknown)
9.4 Testing Hypotheses About a Proportion
Thinking Critically About Statistics in Business Today
9.5 Testing Hypotheses About a Variance
9.6 Solving for Type II Errors
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Taiwan’s Dominance of the Semiconductor Industry
Big Data Case
Endnotes
10 Statistical Inferences About Two Populations
Decision Dilemma: L.L. Bean
10.1 Hypothesis Testing and Confidence Intervals About the Difference in Two Means Using the z Statistic (Population Variances Known)
10.2 Hypothesis Testing and Confidence Intervals About the Difference in Two Means: Independent Samples and Population Variances Unknown
Thinking Critically About Statistics in Business Today
10.3 Statistical Inferences for Two Related
10.4 Statistical Inferences About Two Population Proportions, p1 − p2
10.5 Testing Hypotheses About Two Population Variances
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: FTSE 100 Versus Gold Price for Portfolio Investment
Big Data Case
Endnotes
11 Analysis of Variance and Design of Experiments
Decision Dilemma: Job and Career Satisfaction of Foreign Self-Initiated Expatriates
11.1 Introduction to Design of Experiments
11.2 The Completely Randomized Design (One-Way ANOVA)
11.3 Multiple Comparison Tests
Thinking Critically About Statistics in Business Today
11.4 The Randomized Block Design
11.5 A Factorial Design (Two-Way ANOVA)
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: The Clarkson Company: Developer of High-Performance Knife-Gate Valves
Big Data Case
Endnotes
12 Simple Regression Analysis and Correlation
Decision Dilemma: Predicting International Hourly Wages by the Price of a Big Mac
12.1 Correlation
12.2 Introduction to Simple Regression Analysis
12.3 Determining the Equation of the Regression Line
12.4 Residual Analysis
12.5 Standard Error of the Estimate
12.6 Coefficient of Determination
12.7 Hypothesis Tests for the Slope of the Regression Model and Testing the Overall Model
Thinking Critically About Statistics in Business Today
12.8 Estimation
12.9 Using Regression to Develop a Forecasting Trend Line
12.10 Interpreting the Output
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Caterpillar, Inc.
Big Data Case
Endnote
13 Multiple Regression Analysis
Decision Dilemma: Are You Going to Hate Your New Job?
13.1 The Multiple Regression Model
13.2 Significance Tests of the Regression Model and Its Coefficients
13.3 Residuals, Standard Error of the Estimate, and R2
Thinking Critically About Statistics in Business Today
13.4 Interpreting Multiple Regression Computer Output
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Starbucks Introduces Debit Card
Big Data Case
14 Building Multiple Regression Models
Decision Dilemma: Predicting CEO Salaries
14.1 Nonlinear Models: Mathematical Transformation
14.2 Indicator (Dummy) Variables
Thinking Critically About Statistics in Business Today
14.3 Model-Building: Search Procedures
14.4 Multicollinearity
14.5 Logistic Regression
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems/ Exploring the Databases with Business Analytics
Chapter Case: Virginia Semiconductor
Big Data Case
Endnotes
15 Time-Series Forecasting and Index Numbers
Decision Dilemma: Forecasting Air Pollution
15.1 Introduction to Forecasting
15.2 Smoothing Techniques
Thinking Critically About Statistics in Business Today
15.3 Trend Analysis
15.4 Seasonal Effects
15.5 Autocorrelation and Autoregression
15.6 Index Numbers
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: DeBourgh Manufacturing Company
Big Data Case
16 Analysis of Categorical Data
Decision Dilemma: Selecting Suppliers in the Electronics Industry
16.1 Chi-Square Goodness-of-Fit Test
16.2 Contingency Analysis: Chi-Square Test of Independence
Thinking Critically About Statistics in Business Today
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Foot Locker in the Shoe Mix
Big Data Case
17 Nonparametric Statistics
Decision Dilemma: How Is the Doughnut Business?
17.1 Runs Test
17.2 Mann-Whitney U Test
17.3 Wilcoxon Matched-Pairs Signed Rank Test
17.4 Kruskal-Wallis Test
Thinking Critically About Statistics in Business Today
17.5 Friedman Test
17.6 Spearman’s Rank Correlation
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Schwinn
Big Data Case
18 Statistical Quality Control
Decision Dilemma: Italy’s Piaggio Makes a Comeback
18.1 Introduction to Quality Control
Thinking Critically About Statistics in Business Today
18.2 Process Analysis
18.3 Control Charts
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formulas / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Standard Motor Products
Big Data Case
Endnotes
19 Decision Analysis
Decision Dilemma: Decision-Making at the CEO Level
19.1 Revision of Probabilities: Bayes’ Rule
19.2 The Decision Table and Decision-Making Under Certainty
19.3 Decision-Making Under Uncertainty
Thinking Critically About Statistics in Business Today
19.4 Decision-Making Under Risk
19.5 Revising Probabilities in Light of Sample Information
Decision Dilemma Solved
Ethical Considerations
Summary / Key Terms / Formula / Supplementary Problems / Exploring the Databases with Business Analytics
Chapter Case: Fletcher-Terry: On the Cutting Edge
Big Data Case
APPENDIX A Tables
APPENDIX B Answers to Selected Problems
GLOSSARY
INDEX