Introduction to Business Statistics (with CD-ROM)

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ISBN: 9780534465216 | 0534465218
Cover: Hardcover
Copyright: 4/13/2004

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Highly praised for its clarity and great examples, Weiers' text takes an informal, student-oriented approach to presenting fundamental statistical concepts. Non-technical terminology and outstanding illustrations explain statistical concepts presented in the context of contemporary applications and student experience. Aware that many business students are intimidated by this course, Weiers provides numerous learning aids and interesting applications drawn from real-world experience common to many students.

PART ONE Business Statistics: Introduction and Background

CHAPTER 1 A Preview of Business Statistics

(16)

1.1 Introduction

(2)

PRACTITIONER PERSPECTIVE Describing Tourism at Niagara Falls

(1)

1.2 Statistics: Yesterday and Today

(2)

1.3 Descriptive versus Inferential Statistics

(3)

1.4 Types of Variables and Scales of Measurement

(3)

1.5 Statistics in Business Decisions

(2)

1.6 Business Statistics: Tools versus Tricks

(1)

1.7 Summary

(3)

STATISTICS IN ACTION 1.1 High Stakes on the Interstate: Car Phones and Accidents

(2)

CHAPTER 2 Visual Description of Data

(52)

2.1 Introduction

(1)

2.2 The Data Array and the Frequency Distribution

(11)

PRACTITIONER PERSPECTIVE Scoring Visual Points with InFocus

(9)

2.3 The Stem-and-Leaf Display and the Dotplot

(4)

2.4 Visual Representation of the Data

(14)

STATISTICS IN ACTION 2.1 These Words Are Better Than a Ninth of a Picture

(2)

2.5 The Scatter Diagram

(6)

2.6 Tabulation, Contingency Tables, and the Excel PivotTable Wizard

(7)

2.7 Summary

(9)

INTEGRATED CASES

Thorndike Sports Equipment (Meet the Thorndikes: Video Unit One)

(1)

Springdale Shopping Survey

(3)

CHAPTER 3 Statistical Description of Data

(52)

3.1 Introduction

(2)

PRACTITIONER PERSPECTIVE Statistical Descriptors and the Bureau of the Census

(1)

3.2 Statistical Description: Measures of Central Tendency

(11)

STATISTICS IN ACTION 3.1 The United States, a People of Means

(3)

SEEING STATISTICS APPLET 1 Influence of a Single Observation on the Median

(1)

STATISTICS IN ACTION 3.2 U.S. Males Post Skewed Incomes

(4)

3.3 Statistical Description: Measures of Dispersion

(10)

3.4 Additional Dispersion Topics

(8)

3.5 Descriptive Statistics from Grouped Data

101

(2)

3.6 Statistical Measures of Association

103

(6)

SEEING STATISTICS APPLET 2 Scatter Diagrams and Correlation

105

(3)

STATISTICS IN ACTION 3.3 The Consumer Price Index

108

(1)

3.7 Summary

109

(12)

INTEGRATED CASES

Thorndike Sports Equipment

116

(1)

Springdale Shopping Survey

117

(1)

BUSINESS CASE Baldwin Computer Sales (A)

117

(4)

CHAPTER 4 Data Collection and Sampling Methods

121

(38)

4.1 Introduction

122

(1)

4.2 Research Basics

123

(3)

PRACTITIONER PERSPECTIVE Data Collection with The Archimedes Group

124

(2)

4.3 Survey Research

126

(4)

4.4 Experimentation and Observational Research

130

(4)

4.5 Secondary Data

134

(5)

STATISTICS IN ACTION 4.1 The Optimistic Homebuilders

139

(1)

4.6 The Basics of Sampling

139

(3)

SEEING STATISTICS APPLET 3 Sampling

142

(1)

4.7 Sampling Methods

142

(11)

STATISTICS IN ACTION 4.2 Shopping for Jurors

150

(1)

STATISTICS IN ACTION 4.3 A Sample of Sampling by Giving Away Samples

151

(2)

4.8 Summary

153

(6)

INTEGRATED CASES

Thorndike Sports Equipment (Video Unit Two)

157

(1)

Thorndike Sports Equipment

157

(2)

PART TWO Probability

CHAPTER 5 Probability: Review of Basic Concepts

159

(41)

5.1 Introduction

160

(2)

PRACTITIONER PERSPECTIVE Probabilities and Insurance with Good and Associates

161

(1)

5.2 Probability: Terms and Approaches

162

(6)

STATISTICS IN ACTION 5.1 Relative Frequencies and Travel Safety

165

(3)

5.3 Unions and Intersections of Events

168

(3)

5.4 Addition Rules for Probability

171

(5)

5.5 Multiplication Rules for Probability

176

(5)

5.6 Bayes' Theorem and the Revision of Probabilities

181

(5)

5.7 Counting: Permutations and Combinations

186

(4)

STATISTICS IN ACTION 5.2 Computer Assistance in the Name Game

187

(3)

5.8 Summary

190

(10)

INTEGRATED CASES

Thorndike Sports Equipment

196

(1)

Springdale Shopping Survey

197

(1)

BUSINESS CASE Baldwin Computer Sales (B)

198

(2)

CHAPTER 6 Discrete Probability Distributions 199,

6.1 Introduction

200

(8)

PRACTITIONER PERSPECTIVE Saving Lives and Examining Data with Citizens' Ambulance

201

(5)

STATISTICS IN ACTION 6.1 The Discrete Uniform Distribution That Took a Day Off

206

(2)

6.2 The Binomial Distribution

208

(14)

6.3 The Poisson Distribution

222

(8)

STATISTICS IN ACTION 6.2 Football Injuries and the Poisson Distribution

223

(7)

6.4 Simulating Observations from a Discrete Probability Distribution

230

(5)

6.5 Summary

235

(6)

INTEGRATED CASE Thorndike Sports Equipment

239

(2)

CHAPTER 7 Continuous Probability Distributions

241

(44)

7.1 Introduction

242

(2)

PRACTITIONER PERSPECTIVE Navigating Normal Curves with Thorndike Sports Equipment

243

(1)

7.2 The Normal Distribution

244

(5)

SEEING STATISTICS APPLET 4 Size and Shape of Normal Distribution

247

(2)

7.3 The Standard Normal Distribution

249

(13)

STATISTICS IN ACTION 7.1 SAT Math Scores and the Normal Distribution

250

(4)

SEEING STATISTICS APPLET 5 Normal Distribution Areas

254

(8)

7.4 The Normal Approximation to the Binomial Distribution

262

(7)

SEEING STATISTICS APPLET 6 Normal Approximation to the Binomial Distribution

267

(2)

7.5 The Exponential Distribution

269

(6)

7.6 Simulating Observations from a Continuous Probability Distribution

275

(3)

7.7 Summary

278

(7)

INTEGRATED CASES

Thorndike Sports Equipment (Video Unit Three)

283

(1)

Thorndike Golf Products Division

283

(2)

PART THREE Sampling Distributions and Estimation

CHAPTER 8 Sampling Distributions

285

(28)

8.1 Introduction

286

(1)

8.2 A Preview of Sampling Distributions

287

(2)

8.3 The Sampling Distribution of the Mean

289

(10)

SEEING STATISTICS APPLET 7 Distribution of Means: Fair Dice

294

(2)

SEEING STATISTICS APPLET 8 Distribution of Means: Loaded Dice

296

(3)

8.4 The Sampling Distribution of the Proportion

299

(3)

8.5 Sampling Distributions When the Population Is Finite

302

(2)

8.6 Computer Simulation of Sampling Distributions

304

(3)

8.7 Summary

307

(6)

INTEGRATED CASE Thorndike Sports Equipment

312

(1)

CHAPTER 9 Estimation from Sample Data

313

(48)

9.1 Introduction

314

(2)

PRACTITIONER PERSPECTIVE Estimation Relies on Sound Sampling Frame at Survey Sampling, Inc.

315

(1)

9.2 Point Estimates

316

(1)

9.3 A Preview of Interval Estimates

317

(4)

9.4 Confidence Interval Estimates for the Mean: a Known

321

(6)

SEEING STATISTICS APPLET 9 Confidence Interval Size

323

(4)

9.5 Confidence Interval Estimates for the Mean: 6 Unknown

327

(10)

SEEING STATISTICS APPLET 10 Comparing the Normal and Student t Distributions 330

SEEING STATISTICS APPLET 11 Student t Distribution Areas

333

(4)

9.6 Confidence Interval Estimates for the Population Proportion

337

(5)

9.7 Sample Size Determination

342

(6)

STATISTICS IN ACTION 9.1 Sampling Error in Survey Research

346

(2)

9.8 When the Population Is Finite

348

(4)

9.9 Summary

352

(9)

INTEGRATED CASES

Thorndike Sports Equipment (Video Unit Four)

358

(1)

Springdale Shopping Survey

359

(2)

PART FOUR Hypothesis Testing

CHAPTER 10 Hypothesis Tests Involving a Sample Mean or Proportion

361

(62)

10.1 Introduction

362

(6)

PRACTITIONER PERSPECTIVE Products Are Tested Extensively Before Receiving the Underwriters Laboratories Mark

363

(5)

10.2 Hypothesis Testing: Basic Procedures

368

(3)

10.3 Testing a Mean, Population Standard Deviation Known

371

(11)

10.4 Confidence Intervals and Hypothesis Testing

382

(2)

SEEING STATISTICS APPLET 12 z-Interval and Hypothesis Testing

383

(1)

10.5 Testing a Mean, Population Standard Deviation Unknown

384

(9)

10.6 Testing a Proportion

393

(9)

10.7 The Power of a Hypothesis Test

402

(10)

SEEING STATISTICS APPLET 13 Statistical Power of a Test

411

(1)

10.8 Summary

412

(11)

INTEGRATED CASES

Thorndike Sports Equipment

417

(1)

Springdale Shopping Survey

418

(1)

BUSINESS CASE Pronto Pizza (A)

419

(4)

CHAPTER 11 Hypothesis Tests Involving Two Sample Means or Proportions

423

(56)

11.1 Introduction

424

(3)

PRACTITIONER PERSPECTIVE Comparing Sample Means and Proportions at Eddie Bauer

425

(2)

11.2 The Pooled-Variances t -Test for Comparing the Means of Two Independent Samples

427

(7)

11.3 The Unequal-Variances t -Test for Comparing the Means of Two Independent Samples

434

(7)

11.4 The z-Test for Comparing the Means of Two Independent Samples

441

(7)

SEEING STATISTICS APPLET 14 Distribution of Difference Between Sample Means

444

(4)

11.5 Comparing Two Means When the Samples Are Dependent

448

(6)

11.6 Comparing Two Sample Proportions

454

(8)

STATISTICS IN ACTION 11.1 Looking for Mechanical Predators

458

(4)

11.7 Comparing the Variances of Two Independent Samples

462

(5)

11.8 Summary

467

(12)

INTEGRATED CASES

Thorndike Sports Equipment

474

(1)

Springdale Shopping Survey

474

(1)

BUSINESS CASE Circuit Systems, Inc. (A)

475

(4)

CHAPTER 12 Analysis of Variance Tests

479

(66)

12.1 Introduction

480

(1)

12.2 Analysis of Variance: Basic Concepts

480

(5)

PRACTITIONER PERSPECTIVE Main and Interaction Effects Are Important at Intel

481

(4)

12.3 One-Way Analysis of Variance

485

(17)

SEEING STATISTICS APPLET 15 F Distribution and ANOVA

494

(8)

12.4 The Randomized Block Design

502

(14)

12.5 Two-Way Analysis of Variance

516

(17)

SEEING STATISTICS APPLET 16 Interaction Graph in Two-Way ANOVA

530

(3)

12.6 Summary

533

(12)

INTEGRATED CASES

Thorndike Sports Equipment (Video Unit Six)

539

(1)

Springdale Shopping Survey

540

(1)

BUSINESS CASE Fastest Courier in the West

541

(4)

CHAPTER 13 Chi-Square Applications

545

(46)

13.1 Introduction

546

(1)

13.2 Basic Concepts in Chi-Square Testing

546

(1)

PRACTITIONER PERSPECTIVE Using Chi-Square Tests at Walker Information

547

(3)

SEEING STATISTICS APPLET 17 Chi-Square Distribution

550

(2)

13.3 Tests for Goodness of Fit and Normality

552

(11)

13.4 Testing the Independence of Two Variables

563

(4)

STATISTICS IN ACTION 13.1 Network Popularity Comparison

567

(4)

13.5 Comparing Proportions from k Independent Samples

571

(5)

13.6 Estimation and Tests Regarding the Population Variance

576

(6)

13.7 Summary

582

(6)

INTEGRATED CASES

Thorndike Sports Equipment

588

(1)

Springdale Shopping Survey

589

(1)

BUSINESS CASE Baldwin Computer Sales (C)

590

(1)

CHAPTER 14 Nonparametric Methods

591

(48)

14.1 Introduction

592

(2)

14.2 Wilcoxon Signed Rank Test for One Sample

594

(5)

14.3 Wilcoxon Signed Rank Test for Comparing Paired Samples

599

(9)

14.4 Wilcoxon Rank Rum Test for Comparing Two Independent Samples 603

14.5 Kruskal-Wallis Test for Comparing More Than Two Independent Samples

608

(4)

14.6 Friedman Test for the Randomized Block Design

612

(5)

14.7 Other Nonparametric Methods

617

(14)

14.8 Summary

631

(8)

INTEGRATED CASES

Thorndike Sports Equipment

636

(1)

Springdale Shopping Survey

637

(1)

BUSINESS CASE Circuit Systems, Inc. (B)

638

(1)

PART FIVE Regression, Model Building, and Time Series

CHAPTER 15 Simple Linear Regression and Correlation

639

(54)

15.1 Introduction

640

(2)

PRACTITIONER PERSPECTIVE Statistics and Regression Analysis with Duxbury/Thomson Learning

641

(1)

15.2 The Simple Linear Regression Model

642

(8)

SEEING STATISTICS APPLET 18 Regression: Point Estimate for y

647

(3)

15.3 Interval Estimation Using the Sample Regression Line

650

(7)

15.4 Correlation Analysis

657

(6)

SEEING STATISTICS APPLET 19 Point Insertion Diagram and Correlation

658

(3)

SEEING STATISTICS APPLET 20 Regression Error Components

661

(2)

15.5 Estimation and Tests Regarding the Sample Regression Line

663

(7)

STATISTICS IN ACTION 15.1 The Beta Coefficient and Investment Decisions

666

(4)

15.6 Additional Topics in Regression and Correlation Analysis

670

(9)

STATISTICS IN ACTION 15.2 Major League Baseball: Does Money Really Win Games?

677

(2)

15.7 Summary

679

(14)

INTEGRATED CASES

Thorndike Sports Equipment

690

(1)

Springdale Shopping Survey

691

(1)

BUSINESS CASE Pronto Pizza (B)

692

(1)

CHAPTER 16 Multiple Regression and Correlation

693

(52)

16.1 Introduction

694

(2)

PRACTITIONER PERSPECTIVE Multiple Regression with the NCAA

695

(1)

16.2 The Multiple Regression Model

696

(7)

16.3 Interval Estimation in Multiple Regression

703

(7)

16.4 Multiple Correlation Analysis

710

(3)

16.5 Significance Tests in Multiple Regression and Correlation

713

(5)

16.6 Overview of the Computer Analysis and Interpretation

718

(10)

STATISTICS IN ACTION 16.1 Predicting Holiday Traffic Fatalities

721

(7)

16.7 Additional Topics in Multiple Regression and Correlation

728

(4)

16.8 Summary

732

(13)

INTEGRATED CASES

Thorndike Sports Equipment

738

(1)

Springdale Shopping Survey

739

(1)

BUSINESS CASES

Easton Realty Company (A)

740

(3)

Circuit Systems, Inc. (C)

743

(2)

CHAPTER 17 Model Building

745

(50)

17.1 Introduction

746

(1)

17.2 Polynomial Models with One Quantitative Predictor Variable

746

(10)

PRACTITIONER PERSPECTIVE Model Building with Research International USA

748

(8)

17.3 Polynomial Models with Two Quantitative Predictor Variables

756

(6)

17.4 Qualitative Variables

762

(5)

17.5 Data Transformations

767

(3)

17.6 Multicollinearity

770

(3)

17.7 Stepwise Regression

773

(7)

STATISTICS IN ACTION 17.1 Stepwise Regression and the NFL Passer Rating

777

(3)

17.8 Selecting a Model

780

(2)

17.9 Summary

782

(13)

INTEGRATED CASES

Thorndike Sports Equipment

786

(1)

Fast-Growing Companies

787

(1)

BUSINESS CASES

Westmore MBA Program

788

(6)

Easton Realty Company (B)

794

(1)

CHAPTER 18 Models for Time Series and Forecasting

795

(60)

18.1 Introduction

796

(1)

18.2 Time Series

796

(8)

PRACTITIONER PERSPECTIVE Retirees Depend on Cost-of-Living Adjustments to Fight Inflation

797

(1)

STATISTICS IN ACTION 18.1 Global Temperatures: A 100,000-Year Cycle

798

(6)

18.3 Smoothing Techniques

804

(11)

18.4 Seasonal Indexes

815

(7)

18.5 Forecasting

822

(5)

18.6 Evaluating Alternative Models: MAD and MSE

827

(2)

18.7 Autocorrelation, the Durbin-Watson Test, and Autoregressive Forecasting

829

(10)

18.8 Index Numbers

839

(6)

STATISTICS IN ACTION 18.2 The CPI Time Machine

843

(2)

18.9 Summary

845

(10)

INTEGRATED CASES

Thorndike Sports Equipment (Video Unit Five)

853

(1)

National Safety Council

854

(1)

PART SIX Special Topics

CHAPTER 19 Decision Theory

855

(28)

19.1 Introduction

856

(1)

19.2 Structuring the Decision Situation

857

(4)

PRACTITIONER PERSPECTIVE Making Decisions with CompAS Controls, Inc.

857

(1)

STATISTICS IN ACTION 19.1 New Technology Makes Invention Hit Bottom

858

(3)

19.3 Non-Bayesian Decision Making

861

(3)

19.4 Bayesian Decision Making

864

(6)

STATISTICS IN ACTION 19.2 Expected Payoff, Maximax, and the Lottery

867

(3)

19.5 The Opportunity Loss Approach

870

(1)

19.6 Incremental Analysis and Inventory Decisions

871

(4)

19.7 Summary

875

(3)

INTEGRATED CASE Thorndike Sports Equipment (Video Unit Seven)

877

(1)

Appendix to Chapter 19: The Expected Value of Imperfect Information

878

(5)

CHAPTER 20 Total Quality Management

883

20.1 Introduction

884

(4)

PRACTITIONER PERSPECTIVE Practicing TQM at Ben & Jerry's Homemade

885

(3)

20.2 A Historical Perspective and Defect Detection

888

(1)

20.3 The Emergence of Total Quality Management

889

(3)

20.4 Practicing Total Quality Management

892

(5)

STATISTICS IN ACTION 20.1 Quality Circles and the "Suggestion Box"

896

(1)

20.5 Some Statistical Tools for Total Quality Management

897

(6)

20.6 Statistical Process Control: The Concepts 902

20.7 Control Charts for Variables

903

(12)

SEEING STATISTICS APPLET 21 Mean Control Chart

913

(2)

20.8 Control Charts for Attributes

915

(8)

20.9 More on Computer-Assisted Statistical Process Control

923

(2)

20.10 Summary

925

(8)

INTEGRATED CASES

Thorndike Sports Equipment

930

(1)

Willard Bolt Company

931

(2)

Appendix A: Statistical Tables

933

(36)

Appendix B: Selected Answers

969

(4)

Index/Glossary

973

(3223652)

CHAPTER 21 Ethics in Statistical Analysis and Reporting

CD Appendix 6A: The Hypergeometric Distribution

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Introduction to Business Statistics (with CD-ROM)

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Table of Contents

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