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Business Statistics: A First Course
Norean R. Sharpe, Georgetown University
Richard D. De Veaux, Williams College
Paul F. Velleman, Cornell University

ISBN-10: 0321426584
ISBN-13:  9780321426581

Publisher:  Pearson
Copyright:  2011
Format:  Cloth Bound w/CD-ROM; 624 pp
Published:  01/03/2010
Status: Instock


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Description

This book is ideal for a one-semester course in business statistics, offering a streamlined presentation of Business Statistics, by Sharpe, De Veaux, and Velleman, with Excel® screenshots throughout the book.

 

Professors Norean Sharpe (Georgetown University), Dick De Veaux (Williams College), and Paul Velleman (Cornell University) have teamed up to provide an innovative new textbook for the undergraduate introductory business statistics course. These authors have taught at the finest business schools and draw on their consulting experience at leading companies to show students how statistical thinking is vital to modern decision making.

 

Managers make better business decisions when they understand statistics, and Business Statistics gives students the statistical tools and understanding to take them from the classroom to the boardroom. Hundreds of examples are based on current events and timely business topics. Short, accessible chapters allow for flexible coverage of important topics, and the conversational writing style maintains student interest and improves understanding.

 

Business Statistics includes Guided Examples that feature the authors’ signature Plan/Do/Report problem-solving method. Each worked example shows students how to clearly define the business decision to be made and plan which method to use, do the calculations and create the graphs, and finally report their findings, often in the form of a business memo. Every chapter reminds students What Can Go Wrong and teaches them how to avoid making common statistical mistakes.


Features

  • Chapter Openers: each chapter opens with a motivating example, a description of a company such as Amazon.com, Zillow.com, Keen Inc., and Whole Foods Market. These examples enhance each chapter and show how and why statistical thinking is so vital to modern business decision-making. Data from these companies are analyzed throughout the chapter.
  • Plan/Do/Report Guided Examples provide a model to help students approach and solve any business statistics problem. Reports are frequently presented in the form of a business memo, helping students become familiar with framing and communicating results in a business setting.
  • Excel® screenshots throughout the book help students visualize and use this vital piece of software.
  • A focus on checking assumptions and conditions emphasizes the need to verify assumptions when using statistical procedures. This focus is reiterated throughout the examples and exercises.
  • Emphasis on graphing and exploring data. The consistent emphasis on the importance of displaying data is evident from the first chapters on understanding data right through to the complex model-building chapters at the end.
  • The flexible topic coverage features short, modular chapters to accommodate any course objective or syllabus.
  • Real data is used throughout the book in exercises, examples, and applications. Hundreds of motivating examples are based on current events and well-known companies. Students learn from the authors’ consulting experience and see how statistical thinking is vital to modern business decision making. This book follows the GAISE Guidelines, which call for using real data and emphasizing real-world interpretations of analyses as often as possible.
  • Math Boxes show the mathematical underpinnings–proofs, derivations, and justifications–of statistical methods and concepts. These boxes are set apart from the main narrative to avoid interrupting the explanation of the topic at hand.
  • What Can Go Wrong? sections near the end of each chapter prepare students with the tools to detect common statistical errors and offer practice in debunking misuses of statistics.
  • By Hand Boxes guide students on how to compute and arrive at solutions by hand, without the aid of technology. These optional discussions distill and explain formulas to help students through the calculation of a worked example.
  • Just Checking questions ask students to stop and think about what they’ve just read. Designed to check student understanding, these questions involve little calculation. Answers are provided at the end of the chapter so students can easily check their work.
  • Ethics in Action vignettes in every chapter illustrate the judgment needed in statistical analysis. Students learn to identify ethically challenging issues and to propose ethically and statistically sound solutions. Questions are included for study and reflection.
  • What Have We Learned? sections at the end of each chapter provide a summary and overview of important new concepts discussed, define new terms, and list the skills that students should have acquired from reading the chapter.
  • Technology Help chapter sections often include annotated examples and offer guidance on using the most common statistics packages (Excel®, MINITAB®, JMP®, Data Desk, and SPSS®). Students can practice concepts in the chapters and get started with the technology of their choice.
  • Mini Case Study Projects at the end of each chapter use real data and ask students to investigate a question or make a business decision. Students are asked to define the objective, plan the process, complete the analysis, and report their conclusion. Data for these projects are available on the included CD-ROM and the companion website, and are formatted for multiple software programs.
  • Exercises within a set progress in difficulty and complexity. Generally, they start with a straightforward application of the chapter ideas. Next, they tackle larger problems but are broken into several parts to guide students through the logic of a complete analysis. Finally, students are asked to synthesize and incorporate their own ideas. Some of more challenging exercises would be ideal for group projects. Large data sets are provided on the accompanying CD-ROM and the companion website.

 


Table of Contents

PART I EXPLORING AND COLLECTING DATA

 

1. Statistics and Variation

1.1 So, What Is Statistics?

1.2 How Will This Book Help?

 

2. Data

2.1 What Are Data?

2.2 Variable Types

2.3 Data Sources–Where, How, and When

 

3. Surveys and Sampling

3.1 Three Ideas of Sampling

3.2 A Census–Does It Make Sense?

3.3 Populations and Parameters

3.4 Simple Random Sample (SRS)

3.5 Other Sample Designs

3.6 Defining the Population

3.7 The Valid Survey

 

4. Displaying and Describing Categorical Data

4.1 The Three Rules of Data Analysis

4.2 Frequency Tables

4.3 Charts

4.4 Contingency Tables

 

5. Displaying and Describing Quantitative Data

5.1 Displaying Distributions

5.2 Shape

5.3 Center

5.4 Spread of the Distribution

5.5 Shape, Center, and Spread–A Summary

5.6 Five-Number Summary and Boxplots

5.7 Comparing Groups

5.8 Identifying Outliers

5.9 Standardizing

*5.10 Time Series Plots

Transforming Skewed Data–On CD-ROM

 

6. Correlation and Linear Regression

6.1 Looking at Scatterplots

6.2 Assigning Roles to Variables in Scatterplots

6.3 Understanding Correlation

6.4 Lurking Variables and Causation

6.5 The Linear Model

6.6 Correlation and the Line

6.7 Regression to the Mean

6.8 Checking the Model

6.9 Variation in the Model and R2

6.10 Reality Check: Is the Regression Reasonable?

Straightening Scatterplots–On CD-ROM

 

PART II UNDERSTANDING DATA AND DISTRIBUTIONS

 

7. Randomness and Probability

7.1 Random Phenomena and Probability

7.2 The Nonexistent Law of Averages

7.3 Different Types of Probability

7.4 Probability Rules

7.5 Joint Probability and Contingency Tables

7.6 Conditional Probability

7.7 Constructing Contingency Tables

7.8 Probability Trees

*7.9 Reversing the Conditioning: Bayes’s Rule

 

8. Random Variables and Probability Models

8.1 Expected Value of a Random Variable

8.2 Standard Deviation of a Random Variable

8.3 Properties of Expected Values and Variances

8.4 Discrete Probability Models

8.5 Continuous Random Variables

 

9. Sampling Distributions and Confidence Intervals for Proportions

9.1 Simulations

9.2 The Sampling Distribution for Proportions

9.3 Assumptions and Conditions

9.4 The Central Limit Theorem–The Fundamental Theorem of Statistics

9.5 A Confidence Interval

9.6 Margin of Error: Certainty vs. Precision

9.7 Critical Values

9.8 Assumptions and Conditions

9.9 Choosing the Sample Size

A Confidence Interval for Small Samples–On CD-ROM

 

10. Testing Hypotheses about Proportions

10.1 Hypotheses

10.2 A Trial as a Hypothesis Test

10.3 P-Values

10.4 The Reasoning of Hypothesis Testing

10.5 Alternative Hypotheses

10.6 Alpha Levels and Significance

10.7 Critical Values

10.8 Confidence Intervals and Hypothesis Tests

10.9 Two Types of Errors

*10.10 Power

 

11. Confidence Intervals and Hypothesis Tests for Means

11.1 The Sampling Distribution for Means

11.2 How Sampling Distribution Models Work

11.3 Gossett and the t-Distribution

11.4 A Confidence Interval for Means

11.5 Assumptions and Conditions

11.6 Cautions About Interpreting Confidence Intervals

11.7 One-Sample t-Test

11.8 Sample Size

*11.9 Degrees of Freedom–Why n - 1

 

12. Comparing Two Groups

12.1 Comparing Two Means

12.2 The Two-Sample t-Test

12.3 Assumptions and Conditions

12.4 A Confidence Interval for the Difference Between Two Means

*12.5 The Pooled t-Test

*12.6 Tukey’s Quick Test

12.7 Paired Data

12.8 The Paired t-Test

 

13. Inference for Counts: Chi-Square Tests

13.1 Goodness-of-Fit Tests

13.2 Interpreting Chi-Square Values

13.3 Examining the Residuals

13.4 The Chi-Square Test of Homogeneity

13.5 Comparing Two Proportions

13.6 Chi-Square Test of Independence

 

PART III  BUILDING MODELS FOR DECISION MAKING

 

14. Inference for Regression

14.1 The Population and the Sample

14.2 Assumptions and Conditions

14.3 Regression Inference

14.4 Standard Errors for Predicted Values

14.5 Using Confidence and Prediction Intervals

14.6 Extrapolation and Prediction

14.7 Unusual and Extraordinary Observations

*14.8 Working with Summary Values

*14.9 Linearity

Re-expressing data–On CD-ROM

The Ladder of Powers*–On CD-ROM

 

15. Multiple Regression

15.1 The Multiple Regression Model

15.2 Interpreting Multiple Regression Coefficients

15.3 Assumptions and Conditions for the Multiple Regression Model

15.4 Testing the Multiple Regression Model

15.5 Adjusted R2 and the F-statistic

The Logistic Regression Model–On CD-ROM

Indicator Variables–On CD-ROM

Adjusting for Different Slopes– Interaction Terms–On CD-ROM

Collinearity–On CD-ROM

 

16. Introduction to Data Mining

16.1 Direct Marketing

16.2 The Data

16.3 The Goals of Data Mining

16.4 Data Mining Myths

16.5 Successful Data Mining

16.6 Data Mining Problems

16.7 Data Mining Algorithms

16.8 The Data Mining Process

16.9 Summary

 

*Indicates an optional topic

 



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Author Bios

Norean Sharpe (Ph.D. University of Virginia), as a researcher of statistical problems in business and a professor at a business school, understands the challenges and specific needs of the business student. She is currently teaching at the McDonough School of Business at Georgetown University, where she is also Associate Dean and Director of Undergraduate Programs. Prior to joining Georgetown, she taught business statistics and operations research courses to both undergraduates and MBAs for fourteen years at Babson CollegeShe is the recipient of the 2008 Women Who Make a Difference Award for female faculty at Babson. Prior to joining Babson, she taught statistics and applied mathematics courses for several years at Bowdoin College. Norean is coauthor of the recent text, A Casebook for Business Statistics: Laboratories for Decision Making, and has authored over 30 articles-primarily in the areas of statistics education and women in science. Norean currently serves as Associate Editor for CAUSE (Consortium for the Advancement of Undergraduate Statistics Education) and Associate Editor for the journal Cases in Business, Industry, and Government Statistics. Her research focuses on business forecasting and statistics education.

 

Richard D. De Veaux (Ph.D. Stanford University) is an internationally known educator, consultant, and lecturer. Dick has taught Statistics at a business school (The Wharton School of the University of Pennsylvania), an engineering school (Princeton University) and a liberal arts college (Williams College). He is an internationally known lecturer in data mining and is a consultant for many Fortune 500 companies in a wide variety of industries. While at Princeton, he won a Lifetime Award for Dedication and Excellence in Teaching. Since 1994, he has been a Professor of Statistics at Williams College. Dick holds degrees from Princeton University in Civil Engineering and Mathematics, and from Stanford University in Dance Education and Statistics, where he studied with Persi Diaconis. His research focuses on the analysis of large data sets and data mining in science and industry. Dick has won both the Wilcoxon and Shewell awards from the American Society for Quality and is a Fellow of the American Statistical Association. Dick is well known in industry, having consulted for such companies as American Express, Hewlett-Packard, Alcoa, DuPont, Pillsbury, General Electric, and Chemical Bank. He was named the “Statistician of the Year” for 2008 by the Boston Chapter of the American Statistical Association for his contributions to teaching, research, and consulting. In his spare time he is an avid cyclist and swimmer. He also is the founder and bass for the Doo-wop group, “Diminished Faculty,” and is a frequent soloist with various local choirs and orchestras. Dick is the father of four children.

 

Paul F. Velleman (Ph.D. Princeton University) has an international reputation for innovative statistics education. He designed the Data Desk® software package and is also the author and designer of the award-winning ActivStats® statistics package, for which he received the EDUCOM Medal for innovative uses of computers in teaching statistics and the ICTCM Award for Innovation in Using Technology in College Mathematics. He is the founder and CEO of Data Description, Inc. (www.datadesk.com), which supports both of these programs. He also developed the Internet site, Data and Story Library (DASL) (dasl.datadesk.com), which provides data sets for teaching Statistics. Paul co-authored (with David Hoaglin) the book ABCs of Exploratory Data Analysis. Paul has taught Statistics at Cornell University on the faculty of the School of Industrial and Labor Relations since 1975. His research often focuses on statistical graphics and data analysis methods. Paul is a Fellow of the American Statistical Association and of the American Association for the Advancement of Science. Paul’s experience as a professor, entrepreneur and business leader brings a unique perspective to the book.

 

Dick De Veaux and Paul Velleman have authored successful books in the introductory college and AP High School market with Dave Bock, including Intro Stats, Third Edition (Pearson, 2009), Stats: Modeling the World, Third Edition (Pearson, 2010), and Stats: Data and Models, Second Edition (Pearson, 2008).

 

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Companion Website for Business Statistics
Sharpe, De Veaux & Velleman
©2010  |  Pearson  |  Website  |  Live
ISBN-10: 0321506898  |  ISBN-13: 9780321506894
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MathXL -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 0321506103  |  ISBN-13: 9780321506108
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MyMathLabPlus for Business Statistics: A First Course
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©2011  |  Pearson  |  Website  |  Live
ISBN-10: 0558794556  |  ISBN-13: 9780558794552
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MyStatLab with eBook -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  On-line Supplement; 624 pp  |  Access Code Required  |  Live
ISBN-10: 0321506081  |  ISBN-13: 9780321506085
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Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 0321702611  |  ISBN-13: 9780321702616

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Additional Topics (Download only) for Business Statistics: A First Course
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ISBN-10: 0321738225  |  ISBN-13: 9780321738226

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Business Insight Video Podcasts (Download only)
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ISBN-10: 0321738748  |  ISBN-13: 9780321738745

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Instructor's Resource Guide (Download only) for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
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ISBN-10: 0321653459  |  ISBN-13: 9780321653451

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Instructor's Solutions Manual for Business Statistics: A First Course
Sharpe, De Veaux, Velleman & Bock
©2011  |  Pearson  |  Paper; 232 pp  |  Instock
ISBN-10: 0321505980  |  ISBN-13: 9780321505989

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PowerPoint Lecture Slides (Download only) for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
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ISBN-10: 0321681290  |  ISBN-13: 9780321681294

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Test Bank and Resource Guide (Download only) for Business Statistics: A First Course
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ISBN-10: 0321505999  |  ISBN-13: 9780321505996

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Sharpe, De Veaux & Velleman
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ISBN-10: 032173873X  |  ISBN-13: 9780321738738

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TestGen® Computerized Test Bank for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
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ISBN-10: 0321506057  |  ISBN-13: 9780321506054

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Exam Copy for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  Cloth Bound w/CD-ROM; 656 pp  |  Instock
ISBN-10: 0321505654  |  ISBN-13: 9780321505651
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Companion Website for Business Statistics
Sharpe, De Veaux & Velleman
©2010  |  Pearson  |  Website  |  Live
ISBN-10: 0321506898  |  ISBN-13: 9780321506894
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MathXL -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 0321506103  |  ISBN-13: 9780321506108
More Info

MyMathLabPlus for Business Statistics: A First Course
SHARPE
©2011  |  Pearson  |  Website  |  Live
ISBN-10: 0558794556  |  ISBN-13: 9780558794552
More Info

MyStatLab with eBook -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  On-line Supplement; 624 pp  |  Access Code Required  |  Live
ISBN-10: 0321506081  |  ISBN-13: 9780321506085
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Websites and online courses

Companion Website for Business Statistics
Sharpe, De Veaux & Velleman
©2010  |  Pearson  |  Website  |  Live
ISBN-10: 0321506898  |  ISBN-13: 9780321506894
More Info

MathXL -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 0321506103  |  ISBN-13: 9780321506108
More Info

MyMathLabPlus for Business Statistics: A First Course
SHARPE
©2011  |  Pearson  |  Website  |  Live
ISBN-10: 0558794556  |  ISBN-13: 9780558794552
More Info

MyStatLab with eBook -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  On-line Supplement; 624 pp  |  Access Code Required  |  Live
ISBN-10: 0321506081  |  ISBN-13: 9780321506085
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Student Solutions Manual for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  Paper; 120 pp  |  Instock
ISBN-10: 0321506065  |  ISBN-13: 9780321506061
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JMP Technology Tutorial Videos for Business Statistics
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ISBN-10: 032174778X  |  ISBN-13: 9780321747785
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Excel 2007 with DDXL Study Card for Business Statistics
Addison Wesley
©2010  |  Pearson  |  Study Card; 8 pp  |  Instock
ISBN-10: 0321641914  |  ISBN-13: 9780321641915
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Excel Technology Tutorial Video for Business Statistics
Pearson
©2012  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 032174831X  |  ISBN-13: 9780321748317
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JMP v.8 Study Card for Business Statistics
Addison Wesley
©2010  |  Pearson  |  Study Card; 6 pp  |  Instock
ISBN-10: 0321644239  |  ISBN-13: 9780321644237
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Minitab Technology Tutorial Video for Business Statistics
Pearson
©2012  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 0321747771  |  ISBN-13: 9780321747778
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Minitab v. 15 Study Card for Business Statistics
Addison Wesley
©2010  |  Pearson  |  Study Card; 6 pp  |  Instock
ISBN-10: 0321644212  |  ISBN-13: 9780321644213
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R Study Card for Business Statistics
Addison Wesley
©2010  |  Pearson  |  Study Card; 8 pp  |  Instock
ISBN-10: 0321644697  |  ISBN-13: 9780321644695
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SPSS v. 17 Study Card for Business Statistics
Addison Wesley
©2010  |  Pearson  |  Study Card; 6 pp  |  Instock
ISBN-10: 0321644220  |  ISBN-13: 9780321644220
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StatCrunch Study Card for Business Statistics
West
©2012  |  Pearson  |  Study Card; 8 pp  |  Instock
ISBN-10: 0321744721  |  ISBN-13: 9780321744722
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XLStat for Pearson Education Access Code Card
Addinsoft
©2011  |  Pearson  |  Access Code Card  |  Instock
ISBN-10: 032175932X  |  ISBN-13: 9780321759320
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Websites and Online Courses

Companion Website for Business Statistics
Sharpe, De Veaux & Velleman
©2010  |  Pearson  |  Website  |  Live
ISBN-10: 0321506898  |  ISBN-13: 9780321506894
More Info

MathXL -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  Pearson  |  On-line Supplement  |  Live
ISBN-10: 0321506103  |  ISBN-13: 9780321506108
More Info

MyMathLabPlus for Business Statistics: A First Course
SHARPE
©2011  |  Pearson  |  Website  |  Live
ISBN-10: 0558794556  |  ISBN-13: 9780558794552
More Info

MyStatLab with eBook -- Instant Access -- for Business Statistics: A First Course
Sharpe, De Veaux & Velleman
©2011  |  On-line Supplement; 624 pp  |  Access Code Required  |  Live
ISBN-10: 0321506081  |  ISBN-13: 9780321506085
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  • MyMathLab/MyStatLab -- Glue-in Access Card, 2/E
Pearson Education | ©2006 | Pearson | Access Code Card


Package ISBN-10: 0321811372 | ISBN-13: 9780321811370
©2011 | Instock
Suggested retail price: $142.67  Buy from myPearsonStore

This package contains:

Sharpe, De Veaux & Velleman | ©2011 | Pearson | Cloth Bound w/CD-ROM; 624 pp
Pearson Arts & Sciences | ©2012 | Pearson | Study Card
  • XLStat for Pearson Education Access Code Card [BUNDLE ITEM ONLY]
Addinsoft | ©2011 | Pearson | Access Card Package


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