Description

Features

This classic text is known for its accuracy and statistical precision. This text enables students to conduct serious analysis of applied problems in contrast to merely running simple “canned” applications to help students become stronger analysts and future managers.

Statistics can seem like a foreign language, what in-text resources help your students learn how to analyze, interpret and communicate their statistical results and recommendations? Would you be interested in a text that demonstrates the relevance of statistics to the real world?

• Provides numerous examples. Each statistical example and solution is presented in the context of a real world business problem. The authors use data from the real world, which can sometimes complicate calculations because the analysis isn't simple and neat, allowing students to see how real world analysis is conducted.
  • Real world business problems lend relevance to why students need to know statistics and allows students to apply their knowledge.

• Provides Detailed step-by-step examples, figures and graphs, and interpretation of data. In business there are many ways to misuse statistical data if one does not have some understanding of how the models work.  
  • Helps students model future problems and avoid the pitfalls of mistaken statistical conclusions.

How do you get students to understand the relevance of the statistical techniques to other business disciplines?

• Provides applications of statistics to functional areas such as marketing, finance, accounting, management, and economics. For example in chapters five and six the authors developed correlations between random variables and then extend this to portfolio problems.  The ideas developed in those sections are fundamental to the analysis of investment portfolios in finance.
  • Business students are interested in problems from the perspective of a manager or a business analyst.  Thus linkage between strong statistical methodology and their careers is critical.

What type of homework do you assign? Do you like to have a large pool of exercises ranging from easy to difficult to assign to your students?

• Extensive exercises. The new edition contains more than 1380 exercises, 355 of which are NEW for this edition. The exercises range from very easy to very difficult.
  • This exhaustive set of exercises provides the instructor with the flexibility to assign exercises for practice or homework.

How do you prefer your students do their assignments - manually or using software?

• Flexibility. Depending on your approach, students can first perform some hand calculations in order to appreciate the methodology and data, then progress to more realistic applied problems that will require the use of the computer io remove the large computational burden.
  • We provide a regular hard copy Solutions Manual with all exercises worked out in detail manually, plus Excel and/or Minitab solutions for basic and application exercises.  

• Software Integration. We provide data files for Excel and Minitab, and TreePlan (Ch. 21 on Statistical Decision Theory).  We have worked to make software generic in this textbook.  We do use minitab and excel, but the emphasis is on interpreting the statistical output, which is similar in all packages.  Students are now more computer literate and detailed explanations of specific software are best left to computer manuals.
  • Lets the instructor decide which statistical package to use.

OTHER POINTS OF DIFFERENTIATION 

What topics do you cover in your course?

• Comprehensive Coverage. Newbold/Carlson/Thorne provide strong coverage especially in descriptive statistics, probability models that apply to management decision making, portfolio analysis, and extended work in simple and multiple regression. 
  • An instructor can select from virtually any statistical topics to meet the needs of their course. 

Do your students ever feel overwhelmed with selecting the proper statistical procedure to apply to a specific scenario?

• Examples and exercises that clearly demonstrate specific statistical techniques needed for varying real world scenarios.  For example in Chapter 5 we present a discussion and some examples that help students understand the choice between a binomial and a probability model.  By emphasizing underlying methodology instead of detailed problem solving we work to develop an overall understanding that students can use when they face a new problem not covered in our examples and exercises. 
  • There are many procedures in statistical methodology and obtaining an understanding of appropriate approaches will avoid mistaken statistical conclusions.

• Covers Covariance and linear combinations of correlated random variables   {See Chapters 5 & 6}
• The depth and extent of regression applications is more comprehensive {See Chapters 13 & 14}
• Covers probability methods for management understanding and decision making  {Chapter 4}

New To This Edition

1. Expanded application problems and the addition of simple computational problems as an additional layer for

developing analysis skills.

2.  Removed detailed computer instructions that detracted from the important problem analysis issues.  Our focus is on solving business and economic problems and not on how to use a computer.  Almost all students are computer literate and we emphasize how they can focus on problem solving using the increased capabilities of computers.

3.  Expanded set of applications to financial portfolio analysis both in examples and student exercises.  (Chapter 6)

4.  Expanded emphasis on the use of graphical procedures for presenting results.

Highlights include:

• Full range of drill and application exercises
• Emphasis on the use of computer computation for problem analysis through the examples and through an extensive set of student exercises, many of which use real data sets supplied on the data disk
• Extensive use of examples to reinforce and demonstrate carefully developed concepts
• Emphasis on developing process models as a basis for selecting appropriate statistical procedures
• Extensive development of simple and multiple regression
• Clear development of descriptive statistics and descriptive graphical procedures as a basis for initial data analysis
• Chapter 3 provides initial descriptive procedures for relationships between variables.
• Chapters 5 and 6  (especially 5.7 and 6.6) provide extensive discussion of joint random variables, linear combinations of random variables, and stock portfolio analysis.  Coverage for finance students is beyond that of competing texts. 
• Chapter 7   Intuitive development of the Central Limit Theorem using Monte Carlo Simulation
• Chapters 8 through 11 provides a summary development of estimation and hypothesis testing through clear statements and applied examples.  In addition depth of understanding is developed through clear and rigorous discussion.
• Chapters 12 through 14 provide both a clear introductory approach to simple and multiple regression through clear summary discussion and graphical presentations.  Depth of understanding is also included using discussion and appropriate mathematical analysis.  Extended application examples are developed using computer and graphical approaches.  In addition this book provides an extensive set of regression extensions not found in competing books including dummy variables, non-linear models, model building, time series and more. 

Table of Contents

Courses

Introduction to Business Statistics (Two Semester)  (Business Statistics)

Next Edition(s)

• Statistics for Business and Economics, 7/E
  Newbold, Carlson & Thorne
  ©2010  |  Prentice Hall  |  Cloth; 1008 pp  |  Instock
  ISBN-10: 0136085369  |  ISBN-13: 9780136085362
  Suggested retail price: $226.67  Buy from myPearsonStoreNet price: $170.00  (What's this?)Brief Description  | 

  

  For business statistics courses taught in Economics and Business Schools
  
  

  A classic text for accuracy and statistical precision.

   

  Statistics for Business and Economics enables students to conduct serious analysis of applied problems rather than running simple “canned” applications. This text is also at a mathematically higher level than most business statistics texts and provides students with the knowledge they need to become stronger analysts for future managerial positions.

  
  

  The seventh edition of this book has been revised and updated to provide students with improved problem contexts for learning how statistical methods can improve their analysis and understanding of business and economics.

  More Info
  

• Statistics for Business and Economics, 8/E
  Newbold, Carlson & Thorne
  ©2013  |  Prentice Hall  |  Cloth; 792 pp  |  Instock
  ISBN-10: 0132745658  |  ISBN-13: 9780132745659
  Suggested retail price: $226.67  Buy from myPearsonStoreNet price: $170.00  (What's this?)Brief Description  | 

  

  For courses in Business Statistics.

   

  A classic text for accuracy and statistical precision.

   

  Statistics for Business and Economics enables students to conduct serious analysis of applied problems rather than running simple “canned” applications. This text is also at a mathematically higher level than most business statistics texts and provides students with the knowledge they need to become stronger analysts for future managerial positions.

   

  The eighth edition of this book has been revised and updated to provide students with improved problem contexts for learning how statistical methods can improve their analysis and understanding of business and economics.

   

  Available with MyStatLab. MyStatLab courses use the rock solid Pearson MathXL technology for online tutorial and homework exercises that regenerate algorithmically for unlimited practice and mastery. MyStatLab courses also include essay questions that can be assigned for online tests and quizzes and other resources designed specifically to help students succeed in Statistics. Use this proven technology to help you and your students succeed. Visit mystatlab.com for more information.

  More Info
  

Companion Website for Statistics for Business and Economics and Student CD, 6/E
Newbold
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131880977  |  ISBN-13: 9780131880979
This online resource is available at no cost.
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Downloadable Instructor Resources

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Instructor's Resource Center, 6/E
Newbold & Yandell
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 013224991X  |  ISBN-13: 9780132249911

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TestGen Computerized Test Bank for Statistics for Business and Economics, 6/E
Newbold
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131880942  |  ISBN-13: 9780131880948
This online resource is available at no cost.

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Companion Website for Statistics for Business and Economics and Student CD, 6/E
Newbold
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131880977  |  ISBN-13: 9780131880979
This online resource is available at no cost.
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Companion Website for Statistics for Business and Economics and Student CD, 6/E
Newbold
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131880977  |  ISBN-13: 9780131880979
This online resource is available at no cost.
More Info

JMP Technology Tutorial Videos for Business Statistics
Pearson
©2012  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 032174778X  |  ISBN-13: 9780321747785
This online resource is available at no cost.
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Companion Website for Statistics for Business and Economics and Student CD, 6/E
Newbold
©2007  |  Prentice Hall  |  On-line Supplement  |  Live
ISBN-10: 0131880977  |  ISBN-13: 9780131880979
This online resource is available at no cost.
More Info

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