Pearson - Statistics for Business & Economics, 10/E - James T. McClave, P. George Benson & Terry Sincich

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Statistics for Business & Economics, 10/E
James T. McClave, University of Florida
P. George Benson, College of Charleston
Terry Sincich, University of South Florida

ISBN-10: 0132409356
ISBN-13: 9780132409353

Publisher: Pearson
Copyright: 2008
Format: Cloth Bound w/CD-ROM; 944 pp
Published: 03/06/2007

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Description

For a one- or two-term course in business statistics.

This best-selling introduction stresses the development of statistical thinking — the assessment of credibility and value of the inferences made from data — by both those who consume and those who produce the information. The authors emphasize inference; data collection and analysis are covered extensively, as needed, to evaluate the reported results of statistical studies and to make good business decisions. Numerous case studies, examples, and exercises draw on real business situations and recent economic events. Assumes a background in basic algebra.

The text incorporates the following American Statistical Association (ASA) guidelines developed from both the Making Statistics More Effective in Schools of Business (MSMESB) conferences and Guidelines for Assessment and Instruction in Statistics Education (GAISE) Project:

Students are most effectively motivated by seeing statistics at work in real applications, problems, cases, and projects.
Students should be provided with the opportunity to work with real data and make use of technology for statistical computations.
Formal training in probability needs to be downplayed in favor of intuitive concepts of probability.
We need to reduce our emphasis on formal theory of statistics and increase emphasis on applications.

Datasets and other resources (where applicable) for this book are available here.

Features

• Over 1000 interesting and diverse applications:

— Represents a wide and diverse array of relevant business and decision making applications.

— Features unique and sourced data that illustrates the role that business statistics play in decision making.

— Uses real world data to emphasize that statistics is important to understanding the world around us.

— Emphasizes the interpretation of real problems and adapts them to standard methods of analysis.

• Over 1400 exercises:

– Starts with easier, more skill and drill oriented exercises, and progresses to more difficult exercises, requiring critical thinking skills.

– In addition to "Learning the Mechanics" exercises, "Applied Exercises" are categorized into "Basic", "Intermediate", and "Advanced" at the end of each section. This categorization assists Instructors when making homework assignments.

• Over 150 Examples:

— All examples consist of a three step format to provide students with a consistent structure by which to approach problems: (1) Problem; (2) Solution; (3) Look Back.

— The "Look Back" feature fosters students' critical thinking skills as they are asked to interpret the solution and/ or reflect upon the situation.

— Now Work - Each Example, where appropriate, concludes with a "Now Work Exercise XX" reference that directs the student to an end of section exercise that illustrates and reinforces the concept or technique presented in that example.

* Activities within each chapter (Optional):

--used to illustrate concepts to students in a "hands on" environment. These activities can be done in class, or outside of class.

* Applets to illustrate statistical concepts:

--Applets are on the textbook CD and illustrate concepts visually, facilitating student understanding. These applets are also integrated into chapter exercises to reinforce concepts.

• Statistics in Action Cases:

– Each chapter begins with a description of an actual, engaging, business case ("Statistics in Action") and the accompanying data.

– The case is revisited throughout the chapter to demonstrate how to analyze the data and interpret the results ("Statistics in Action Revisited").

– Integration of abundant real-world data makes these studies relevant to our lives and to society.

• Real World Cases:

— Six Business Case Studies use real data to put students in the position of decision maker or consultant. These follow every 2-3 chapters.

— Students must use the information learned in previous chapters to reach a decision and support their arguments about the questions asked.

• Chapter Openers that provide valuable roadmaps:

– “Where We've Been” quickly reviews how information learned previously applies to the chapter at hand.

– “Where We're Going” highlights how the chapter topics fit into students' growing understanding of statistics.

• End-of-Chapter Review

Concludes each chapter with information and many exercises (e.g., flow charts, decision trees, bullet lists) designed to help students check their understanding of the material and study for tests.

• Extensive coverage of regression analysis (chapters 10-11).

• Flexible Coverage of Probability (chapters 3-4)

Offers a choice in level of coverage; places counting rules in a separate and optional section at the end of the probability chapter.

• Statistical Software Tutorials:

– Appear at the end of each chapter and consist of technology tutorials with point-and-click instructions, including screen shots) for EXCEL, MINITAB and SPSS.

– These tutorials provide students with useful information on how best to use and maximize their statistical software.

• Statistical Software Printouts:

— These appear at appropriate moments within the chapters, and consist of MINITAB, SPSS and EXCEL (with the PHStat add-ins) output.

— Students are exposed to the computer output they will encounter in the high-tech business world.

• Profiles of Statisticians in History:

–Boxes (with photo) of a famous statistician and brief description of his/her contributions to the field of statistics.

– These profiles are "optional" but they will help students develop an appreciation of the statistician's efforts and the discipline of statistics as a whole.

New To This Edition

Thorough and extensively revised exercise sets, up to 20% in each chapter

Critical Thinking Challenges —at the end of the “Chapter Supplementary Exercises”, students are asked to apply their critical thinking skills to solve one or two challenging real-life business problems.

New and updated Statistics in Action –Chapter 1, Chapter 10, Chapter 14

"Putting it All Together" Flowcharts and Decision Trees - appear at the end of chapters, where appropriate, to offer a visual depiction of how to choose the appropriate statistical method.

Activities and Applets to Foster Active Learning in the Classroom

Approximately 2 activities, within each chapter, encourage students to collect, summarize and analyze data. Doing these activities promotes conceptual understanding of statistical concepts.
Applets are contained on the textbook CD. They are useful to illustrate concepts in a visual manner. These applets are also integrated, where appropriate, into exercises within the tex

Content Changes:

Single chapter on Probability Distributions — Discrete, continuous, and sampling distributions (previously Chapters 4-6) are now combined into a single chapter (4) to facilitate reduction in coverage of these topics and provide material appropriate for a one-semester course in business statistics.
New sections on Identifying the Target Parameter — added to confidence interval chapter (5) and two-sample inferences chapter (7), to aid students in selecting the appropriate parameter to estimate.
Streamlined chapters on Regression — several sections from the previous edition have been combined and streamlined to shorten the simple linear regression chapter (10) and multiple regression chapter (11).
Time Series and Nonparametric chapters on CD — to shorten the printed length of the text, the last two chapters (13 and 14) are now made available in pdf format on a CD that accompanies the text and online at the Prentice Hall-McClave web site.

Table of Contents

Chapter 1 Statistics, Data, and Statistical Thinking

1.1 The Science of Statistics

1.2 Types of Statistical Applications

1.3 Fundamental Elements of Statistics

1,4 Processes (Optional)

1.5 Types of Data

1.6 Collecting Data

1.7 The Role of Statistics in Managerial Decision-Making

Statistics in Action: A "20/20" View of Survey Results - Fact or Fiction?

Using Technology: Creating and Listing Data in SPSS, MINITAB, and EXCEL

Chapter 2 Methods for Describing Sets of Data

2.1 Describing Qualitative Data

2.2 Graphical Methods for Describing Quantitative Data

2.3 Summation Notation

2.4 Numerical Measures of Central Tendency

2.5 Numerical Measures of Variability

2.6 Interpreting the Standard Deviation

2.7 Numerical Measures of Relative Standing

2.8 Methods for Detecting Outliers (Optional)

2.9 Graphing Bivariate Relationships (Optional)

2.10 The Time Series Plot (Optional)

2.11 Distorting the Truth with Descriptive Techniques

Statistics In Action: Characteristics of Physicians who Use or Refuse Ethics Consultation

Using Technology: Describing Data using SPSS, MINITAB, and EXCEL/PHStat2

APPLYING STATISTICS TO THE REAL WORLD: THE KENTUCKY MILK CASE C PART I (A Case Covering Chapters 1 and 2)

Chapter 3 Probability

3.1 Events, Sample Spaces, and Probability

3.2 Unions and Intersections

3.3 Complementary Events

3.4 The Additive Rule and Mutually Exclusive Events

3.5 Conditional Probability

3.6 The Multiplicative Rule and Independent Events

3.7 Random Sampling

3.8 Bayes’ Rule (Optional)

Statistics In Action: Lottery Buster!

Using Technology: Generating a Random Sample Using SPSS, MINITAB, and EXCEL/PHStat2

Chapter 4 Random Variables and Probability Distributions

4.1 Two Types of Random Variables

4.2 Probability Distributions for Discrete Random Variables

4.3 The Binomial Random Variable

4.4 The Poisson Random Variable (Optional)

4.5 Probability Distributions for Continuous Random Variables

4.6 The Uniform Distribution (Optional)

4.7 The Normal Distribution

4.8 Descriptive Methods for Assessing Normality

4.9 Approximating a Binomial Distribution with a Normal Distribution (Optional)

4.10 Sampling Distributions

4.11 The Sampling Distribution of and the Central Limit Theorem

Statistics in Action: Super Weapons Development — Optimizing the Hit Ratio

Using Technology: Binomial Probabilities, Normal Probabilities, and Simulated Sampling Distributions using SPSS, MINITAB, and EXCEL/PHStat2

APPLYING STATISTICS TO THE REAL WORLD: THE FURNITURE FIRE CASE (A Case Covering Chapters 3-4)

Chapter 5 Inferences Based on a Single Sample: Estimation with Confidence Intervals

5.1 Identifying the Target Parameter

5.2 Large-Sample Confidence Interval for a Population Mean

5.3 Small-Sample Confidence Interval for a Population Mean

5.4 Large-Sample Confidence Interval for a Population Proportion

5.5 Determining the Sample Size

5.6 Finite Population Correction for Simple Random Sampling (Optional)

5.7 Sample survey Designs (Optional)

Statistics in Action: Scallops, Sampling, and the Law

Using Technology: Confidence Intervals using SPSS, MINITAB and EXCEL/PHStat2

Chapter 6 Inferences Based on a Single Sample: Tests of Hypothesis

6.1 The Elements of a Test of Hypothesis

6.2 Large-Sample Test of Hypothesis About a Population Mean

6.3 Observed Significance Levels: p-Values

6.4 Small-Sample Test of Hypothesis About a Population Mean

6.5 Large-Sample Test of Hypothesis About a Population Proportion

6.6 Calculating Type II Error Probabilities: More About β (Optional)

8.7 Test of Hypothesis About a Population Variance (Optional)

Statistics in Action: Diary of a Kleenex User

Using Technology: Tests of Hypotheses using SPSS, MINITAB and EXCEL/PHStat2

Chapter 7 Inferences Based on Two Samples: Confidence Intervals and Tests of Hypotheses

7.1 Identifying the Target Parameter

7.2 Comparing Two Population Means: Independent Sampling

7.3 Comparing Two Population Means: Paired Difference Experiments

7.4 Comparing Two Population Proportions: Independent Sampling

7.5 Determining the Sample Size

7.6 Comparing Two Population Variances: Independent Sampling

Statistics in Action: The Effect of Self-Managed Work Teams on Family Life

Using Technology: Two-Sample Inferences using SPSS, MINITAB and EXCEL/PHStat2

APPLYING STATISTICS TO THE REAL WORLD: THE KENTUCKY MILK CASE C PART II (A Case Covering Chapters 7-9)

Chapter 8 Analysis of Variance: Comparing More the Two Means

8.1 Elements of a Designed Experiment

8.2 The Completely Randomized Design

8.3 Multiple Comparisons of Means

8.4 The Randomized Block Design (Optional)

8.5 Factorial Experiments

Statistics in Action: The Ethics of Downsizing

Using Technology: Analysis of Variance using SPSS, MINITAB and EXCEL/PHStat2

Chapter 9 The Chi-Square Test and the Analysis of Contingency Tables

9.1 Categorical Data and the Multinomial Distribution

9.2 Testing Category Probabilities: One-Way Table

9.3 Testing Category Probabilities: Two-Way (Contingency) Table

9.4 A Word of Caution About Chi-Square Tests

Statistics in Action: A Study of Coupon Users — Mail versus the Internet

Using Technology: Chi-Square Analyses using SPSS, MINITAB and EXCEL/PHStat2

APPLYING STATISTICS TO THE REAL WORLD: DISCRIMINATION IN THE WORKPLACE (A Case Covering Chapters 8-9)

Chapter 10 Simple Linear Regression

10.1 Probabilistic Models

10.2 Fitting the Model: The Least Squares Approach

10.3 Model Assumptions

10.4 An Estimator of σ²

10.5 Making Inferences About the Slope β₁

10.6 The Coefficient of Correlation

10.7 The Coefficient of Determination

10.8 Using the Model for Estimation and Prediction

10.9 A Complete Example

Statistics in Action: An MBA’s Work-Life Balance

Using Technology: Simple Linear Regression using SPSS, MINITAB and EXCEL/PHStat2

Chapter 11 Multiple Regression and ModelBuilding

11.1 Multiple Regression Models

11.2 The First-Order Model: Estimating and Interpreting the β-Parameters

11.3 Inferences About the Individual β Parameters and the Overall Model Utility

11.4 Using the Model for Estimation and Prediction

11.5 Model Building: Interaction Models

11.6 Model Building: Quadratic and other Higher-Order Models

11.7 Model Building: Qualitative (Dummy) Variable Models

11.8 Model Building: Models with both Quantitative and Qualitative Variables (Optional)

11.9 Model Building: Comparing Nested Models (Optional)

11.10 Model Building: Stepwise Regression (Optional)

11.11 Residual Analysis: Checking the Regression Assumptions

11.12 Some Pitfalls: Estimability, Multicollinearity, and Extrapolation

Statistics in Action: Bid-Rigging in the Highway construction Industry

Using Technology: Multiple Regression using SPSS, MINITAB and EXCEL/PHStat2

APPLYING STATISTICS TO THE REAL WORLD: THE CONDO SALES CASE (A Case Covering Chapters 10-11)

Chapter 12 Methods for Quality Improvement

12.1 Quality, Processes, and Systems

12.2 Statistical Control

12.3 The Logic of Control Charts

12.4 A Control Chart for Monitoring the Mean of a Process: The -Chart

12.5 A Control Chart for Monitoring the Variation of a Process: The R-Chart

12.6 A Control Chart for Monitoring the Proportion of Defectives Generated by a Process: The p-Chart

12.7 Diagnosing the Causes of Variation (Optional)

12.8 Capability Analysis (Optional)

Statistics in Action: Testing Jet Fuel Additive for Safety

Using Technology: Control Charts using SPSS, MINITAB and EXCEL/PHStat2

Chapter 13 Time Series: Descriptive Analyses, Models, and Forecasting (Available on CD)

13.1 Descriptive Analysis: Index Numbers

13.2 Descriptive Analysis: Exponential Smoothing

13.3 Time Series Components

13.4 Forecasting: Exponential Smoothing

13.5 Forecasting Trends: The Holt-Winters Model (Optional)

13.6 Measuring Forecast Accuracy: MAD and RMSE

13.7 Forecasting Trends: Simple Linear Regression

13.8 Seasonal Regression Models

13.9 Autocorrelation and the Durbin-Watson Test

Statistics In Action: Forecasting the Monthly Sales of a New Cold Medicine

Using Technology: Forecasting using SPSS, MINITAB and EXCEL/PHStat2

APPLYING STATISTICS TO THE REAL WORLD: THE GASKET MANUFACTURING CASE (A Case Covering Chapters 12-13)

Chapter 14 Nonparametric Statistics (available on CD)

14.1 Single Population Inferences

14.2 Comparing Two Populations: Independent Samples

14.3 Comparing Two Populations: Paired Difference Experiment

14.4 Comparing Three or More Populations: Completely Randomized Design

14.5 Comparing Three or More Populations: Randomized Block Design (Optional)

14.6 Rank Correlation

Statistics in Action: Deadly Exposure — Agent Orange and Vietnam Vets

Using Technology: Nonparametric Analyses using SPSS, MINITAB and EXCEL/PHStat2

Appendix A Basic Counting Rules

Appendix B Tables

Table I Random Numbers

Table II Binomial Probabilities

Table III Poisson Probabilities

Table IV Normal Curve Areas

Table V Critical Values of t

Table VI Critical Values of χ²

Table VII Percentage Points of the F Distribution, α=.10

Table VIII Percentage Points of the F Distribution, α=.05

Table IX Percentage Points of the F Distribution, α=.025

Table X Percentage Points of the F Distribution, α=.01

Table XI Critical Values of T_L and T_U for the Wilcoxon Rank Sum Test: Independent Samples

Table XII Critical Values of T₀ in the Wilcoxon Paired Difference Signed Rank Test

Table XIII Critical Values of Spearman's Rank Correlation Coefficient

Appendix C Calculation Formulas for Analysis of Variance

Courses

Introduction to Business Statistics (Two Semester) [CORE TEXTS] (Business Statistics)
Intro to Business Statistics - One or Two Term (Statistics)

Next Edition(s)

Statistics for Business and Economics, 11/E
McClave, Benson & Sincich
©2011 | Pearson | Cloth Bound w/CD-ROM; 896 pp | Instock
ISBN-10: 032164011X | ISBN-13: 9780321640116
Net price: $138.00 (What's this?)Brief Description |

For a one- or two-semester course in business statistics.

Classic, yet contemporary. Theoretical, yet applied. Statistics for Business and Economics, Eleventh Edition, gives you the best of both worlds. Using a rich array of applications from a variety of industries, McClave/Sincich/Benson clearly demonstrates to students how to use statistics effectively in a business environment.

The book focuses on developing statistical thinking so the reader can better assess the credibility and value of inferences made from data. As consumers and future producers of statistical inferences, students are introduced to a wide variety of data collection and analysis techniques to help them evaluate data and make informed business decisions. As with previous editions, this revision offers an abundance of applications with many new and updated exercises that draw on real business situations and recent economic events. The authors assume a background of basic algebra.
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Author Bios

James T. McClave, Info Tech, Inc./ University of Florida

P. Goerge Benson, Terry College of Business, University of Georgia

Terry Sincich, University of South Florida

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MyStatLab with eBook -- Instant Access -- for Statistics for Business & Economics, 10/E
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For Introduction to Business Statistics (Two Semester)
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Test Item File (Download only) for Statistics for Business & Economics, 10/E
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JMP Technology Tutorial Videos for Business Statistics
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Excel 2007 with DDXL Study Card for Business Statistics
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Minitab Technology Tutorial Video for Business Statistics
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Minitab v. 15 Study Card for Business Statistics
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Statistics for Business & Economics, 10/E