Introductory Statistics for Business and Economics, 4th Edition

, by Thomas H. Wonnacott (University of Western Ontario); Ronald J. Wonnacott (University of Western Ontario)

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ISBN: 9780471615170 | 047161517X
Cover: Hardcover
Copyright: 1/1/1990

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This Fourth Edition includes new sections on graphs, robust estimation, expected value and the bootstrap, in addition to new material on the use of computers. The regression model is well covered, including both nonlinear and multiple regression. The chapters contain many real-life examples and are relatively self-contained, making adaptable to a variety of courses.

PART I BASIC PROBABILITY AND STATISTICS

(186)

The Nature of Statistics

(22)

Random Sampling: A Political Poll

(6)

Randomized Experiments: Testing a Hospital Routine

(4)

Observational Studies vs. Randomized Experiments

(6)

Brief Outline of the Book

(5)

Summary

(5)

Descriptive Statistics

(44)

Frequency Tables and Graphs

(6)

Center of a Distribution

(7)

Spread of a Distribution

(7)

Statistics by Computer

(1)

Linear Transformations

(5)

Calculations Using Relative Frequencies

(1)

The Use and Misuse of Graphs

(16)

Summary

(5)

Probability

(40)

Introduction

(3)

Probability Models

(6)

Compound Events

(6)

Conditional Probability

(4)

Independence

(4)

Bayes Theorem: Tree Reversal

(6)

Other Views of Probability

(10)

Summary

103

(6)

Probability Distributions

109

(44)

Discrete Random Variables

110

(3)

Mean and Variance

113

(3)

The Binomial Distribution

116

(8)

Continuous Distributions

124

(3)

The Normal Distribution

127

(7)

A Function of a Random Variable

134

(7)

Expected Value in Bidding

141

(12)

Summary

146

(7)

Two Random Variables

153

(34)

Distributions

154

(7)

A Function of Two Random Variables

161

(3)

Covariance

164

(6)

Linear Combination of Two Random Variables

170

(17)

Summary

176

(6)

Review Problems (Chapters 1-5)

182

(5)

PART II INFERENCE FOR MEANS AND PROPORTIONS

187

(168)

Sampling

189

(42)

Random Sampling

190

(6)

Moments of the Sample Mean

196

(3)

The Shape of the Sampling Distribution

199

(8)

Proportions (Percentages)

207

(8)

Small-Population Sampling

215

(3)

Monte Carlo

218

(13)

Summary

225

(6)

Point Estimation

231

(22)

Populations and Samples

232

(1)

Efficiency of Unbiased Estimators

232

(7)

Efficiency of Biased and Unbiased Estimators

239

(5)

Consistent Estimators

244

(9)

Summary

248

(5)

Confidence Intervals

253

(34)

A Single Mean

254

(7)

Small-Sample t

261

(4)

Difference in Two Means, Independent Samples

265

(3)

Difference in Two Means, Matched Samples

268

(5)

Proportions

273

(4)

The Bootstrap

277

(10)

Summary

281

(6)

Hypothesis Testing

287

(37)

Hypothesis Testing Using Confidence Intervals

288

(5)

p-Value (One-Sided)

293

(7)

Classical Hypothesis Tests

300

(6)

Classical Tests Reconsidered

306

(4)

Operating Characteristics Curve (OCC)

310

(4)

Two-Sided Tests

314

(10)

Summary

320

(4)

Analysis of Variance (ANOVA)

324

(31)

One-Way ANOVA

325

(11)

Two-Way ANOVA

336

(7)

Confidence Intervals

343

(12)

Summary

346

(4)

Review Problems (Chapters 6-10)

350

(5)

PART III REGRESSION: RELATING TWO OR MORE VARIABLES

355

(160)

Fitting a Line

357

(14)

Introduction

358

(2)

Ordinary Least Squares (OLS)

360

(6)

Advantages of OLS and WLS

366

(5)

Summary

368

(3)

Simple Regression

371

(25)

The Regression Model

372

(3)

Sampling Variability

375

(4)

Confidence Intervals and Tests for β

379

(4)

Predicting Y at a Given level of X

383

(6)

Extending the Model

389

(7)

Summary

390

(6)

Multiple Regression

396

(38)

Why Multiple Regression?

397

(3)

The Regression Model and Its OLS Fit

400

(6)

Confidence Intervals and Statistical Tests

406

(4)

Regression Coefficients as Multiplication Factors

410

(7)

Simple and Multiple Regression Compared

417

(7)

Path Analysis

424

(10)

Summary

428

(6)

Regression Extensions

434

(40)

Dummy (0-1) Variables

435

(10)

Analysis of Variance (ANOVA) by Regression

445

(4)

Simplest Nonlinear Regression

449

(3)

Nonlinearity Removed by Logs

452

(9)

Diagnosis by Residual Plots

461

(13)

Summary

466

(8)

Correlation

474

(41)

Simple Correlation

475

(7)

Correlation and Regression

482

(7)

The Two Regression Lines

489

(7)

Correlation in Multiple Regression

496

(5)

Multicollinearity

501

(14)

Summary

506

(6)

Review Problems (Chapters 11-15)

512

(3)

PART IV TOPICS IN CLASSICAL AND BAYESIAN INFERENCE

515

(122)

Nonparametric and Robust Statistics (Requires Chapter 9)

517

(32)

Introduction: Mean or Median?

518

(1)

Sign Test for the Median

518

(4)

Confidence Interval for the Median

522

(3)

Wilcoxon Rank Test

525

(3)

Rank Tests in General

528

(5)

Runs Test for Independence

533

(3)

Robust Statistics: Trimming and Weighting

536

(13)

Summary

545

(4)

Chi-Square Tests (Requires Chapter 9)

549

(15)

X2 Tests for Multinomials: Goodness of Fit

550

(5)

X2 Tests for Independence: Contingency Tables

555

(9)

Summary

561

(3)

Maximum Likelihood Estimation (Requires Chapter 7)

564

(18)

Introduction

565

(1)

MLE for Some Familiar Cases

566

(7)

MLE for the Uniform Distribution

573

(3)

MLE in General

576

(6)

Summary

579

(3)

Bayesian Inference (Requires Chapter 8)

582

(38)

Posterior Distributions

583

(5)

The Population Proportion

588

(10)

The Mean μ in a Normal Model

598

(7)

The Slope β in Normal Regression

605

(3)

Bayesian Shrinkage Estimates

608

(7)

Classical and Bayesian Estimates Compared

615

(5)

Summary

615

(5)

Bayesian Decision Theory (Requires Chapter 19)

620

(17)

Maximizing Gain (or Minimizing Loss)

621

(6)

Point Estimation as a Decision

627

(6)

Classical and Bayesian Statistics Compared

633

(4)

Summary

635

(2)

PART V SPECIAL TOPICS FOR BUSINESS AND ECONOMICS

637

(100)

Decision Trees (Requires Chapter 3)

639

(25)

The Basic Tree

640

(8)

Testing to Revise Probabilities: Bayes Theorem

648

(5)

Utility Theory to Handle Risk Aversion

653

(11)

Summary

657

(7)

Index Numbers (Requires Nothing Previous)

664

(14)

Price Indexes

665

(3)

Further Indexes

668

(4)

Indexes in Practice

672

(6)

Summary

675

(3)

Sampling Designs (Requires Chapter 8)

678

(14)

Stratified Sampling

679

(8)

Other Sampling Designs

687

(5)

Summary

690

(2)

Time Series (Requires Chapter 15)

692

(30)

Two Special Characteristics of a Time Series

693

(2)

Decomposition and Forecasting Using Regression

695

(10)

Traditional Ratio to Moving Average

705

(5)

Forecasting Using Exponential Smoothing

710

(2)

Forecasting Using Box-Jenkins Models

712

(2)

Generalized Least Squares (GLS)

714

(8)

Summary

719

(3)

Simultaneous Equations (Requires Chapter 13)

722

(15)

Introduction: The Bias in OLS

723

(4)

The Remedy: Instrumental Variables (IV)

727

(4)

Two-Stage Least Squares (2SLS)

731

(6)

Summary

735

(2)

Appendixes

737

(29)

2-2 Careful Approximation of the Median

738

(1)

2-5 Effects of a Linear Transformation: Proofs

738

(1)

3-7 Probability as Axiomatic Mathematics

738

(1)

4-2 Easier Formula for σ2: Proof

739

(1)

4-3 Binomial Formula: Proof

739

(2)

4-4 Calculus for Continuous Distributions

741

(1)

5-3 Independent Implies Uncorrelated: Proof

742

(1)

5-4 Linear Combinations: Proofs

742

(1)

6-3 Central Limit Theorem

743

(1)

6-4 Continuity Correction: Graphical Explanation

743

(1)

7-2 Standard Error of X

743

(1)

7-4 Consistency: Careful Definition

744

(1)

8-3 Standard Error of (X1-X2): Proof

745

(1)

8-5 Confidence Interval for π: Derivation of Graph

745

(1)

9-2 A More Exact p-Value for Proportions

746

(1)

10-1 Breakdown of Total SS: Proof

747

(1)

10-2 Two-Way ANOVA, Breakdown of Total SS: Proof

747

(1)

10-3 ANOVA Is Much More Than Just Testing H0

748

(1)

11-1 Lines and Planes

748

(2)

11-2 Least-Squares Formulas: Proofs

750

(1)

12-2 The Moments of b: Proofs and Discussion

751

(2)

12-3 A One-sided or Two-sided Test?

753

(1)

12-4 Confidence Intervals above X0: Proofs

754

(1)

13-2 Solution of a Set of Simultaneous Equations

755

(1)

13-5 Direct Plus Indirect Relation: Proof

756

(1)

14-4 Log Regression Handles a Multiplicative Error Term

756

(1)

15-1 Correlation in Chapter 15 Agrees with Chapter 5

757

(1)

15-2 ANOVA and r2: Proofs

757

(1)

18-2 MLE for Some Familiar Cases: Proofs

758

(2)

19-2 Bayesian Confidence Interval for π: Proof

760

(1)

19-3 Posterior Distribution of μ in a Normal Model: Proof

761

(1)

19-4 Posterior Distribution of β in Normal Regression: Proof

761

(1)

19-5 Bayesian Shrinkage Confidence Intervals

762

(1)

24-2 Serial Correlation and the Durbin-Watson Test

762

(1)

24-3 Moving Averages in General

763

(1)

24-4 Exponential Smoothing: Proof

764

(1)

24-5 Forecasting Using Box-Jenkins Models

764

(2)

Tables

766

(15)

References

781

(6)

Answers to Odd-Numbered Problems

787

(16)

Glossary of Common Symbols

803

(4)

Index of Examples and Problems

807

(2)

Index

809

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Introductory Statistics for Business and Economics, 4th Edition

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Introductory Statistics for Business and Economics, 4th Edition

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