Contents
1 The essence of statistics for business
The use of statistics
Basic terms and concepts
Statistics for managers
Schematic overview of the book
Statistical computer packages
2 Summarizing data using tables and graphs
The essence of descriptive tables and graphs in business
Tables and frequency distributions
Graphical methods of data presentation
Use of MINITAB
Key learning points
Exerdses
3 Summarizing data numerically
The essence of descriptive summary measures in business
Measures of location
Measures of dispersion
Use of MINITAB
Key leaming points
Exerdses
4 Index numbers
The essence of index numbers in business
Price index numbers
Quantity index numbers
Key learning points
Exerdses
5 Probability
The essence of probability in business
Assigning probabilities
The rules of probability
Expectations
Permutations and combinations
Key learning points
Exerdses
6 Probability distributions
The essence of probability distributions in business
The binomial distribution
The Poisson distribution
The normal distribution
Use of MINITAB
Key learning points
Exercises
7 Using samples to make estimates
The essence of statistical inference and estimation in business
Sampling distributions
Relationship between sample statistics and population parameters
Point estimation of the population mean
The size and measurement of the standard error of the mean
The probability of error
Interval estimation of the population mean
The measurement of the standard error of the mean when cr
is unknown
Sampling and the t distribution
Use of MINITAB
Key leaming points
Exerdses
8 Tests of statistical hypotheses
The essence of statistical inference and testing hypotheses in
business
The basic principles of hypothesis testing
Conducting hypothesis tests
Errors in hypothesis testing: Type 1 and Type 11 errors
Extensions of hypothesis testing
Use of MINITAB
Key learning points
Exercises
9 Tests of goodness-of-fit and independence
The essence of tests of goodness-of-fit and independence in
business
Goodness-of-fit tests
Tests of independence
Use of MINITAB
Key learning points
Exercises
10 Simple regression and correlation analysis
The essence of simple regression and correlation in business
Simple regression analysis
Simple correlation analysis
Extensions of simple regression and correlation analysis
Use of MINITAB
Key learning points
Exerdses
11 Multiple regression and correlation analysis
The essence of multiple regression and correlation in business
Multiple regression analysis
Multiple correlation analysis
Pitfalls and limitations of multiple regression analysis
Use of MINITAB
Key learning points
Exercises
12 Analyzing time series data
The essence of time series analysis in business
Measurement of trend (T)
Measurement of seasonal variation (S)
Measurement of cyclical variation (C)
Random variation (R)
Key learning points
Exercises
Appendix A Probability distribution tables
Al Binomial probability distribution
A2 Poisson probability distribution
A3 Standard normal distribution
A4 t distribution
A5 x distribution
A6 F distribution
Appendix B Computer software for statistical analysis
Appendix C Sources of business and economic statistics
Appendix D References for further reading
Solutions to exercises
Index
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