Basic statistics for business & economics

Cover......Page 1
Title Page......Page 2
Copyright Page......Page 3
Contents......Page 4
Preface......Page 8
Acknowledgements......Page 11
 Introduction......Page 12
 Why Study Statistics?......Page 13
 What Is Meant by Statistics?......Page 14
 Types of Statistics......Page 15
 Types of Variables......Page 17
 Levels of Measurement......Page 18
 Ethics and Statistics......Page 22
 Computer Applications......Page 23
 Chapter Exercises......Page 24
 Data Set Exercises......Page 26
 Answers to Self-Reviews......Page 27
 Introduction......Page 28
 Constructing a Frequency Distribution......Page 29
 Graphic Presentation of Qualitative Data......Page 30
 Exercises......Page 32
 Constructing Frequency Distributions: Quantitative Data......Page 33
 Exercises......Page 38
 Graphic Presentation of a Frequency Distribution......Page 39
 Exercises......Page 43
 Exercises......Page 48
 Stem-and-Leaf Displays......Page 49
 Exercises......Page 51
 Chapter Summary......Page 53
 Chapter Exercises......Page 54
 Data Set Exercises......Page 60
 Practice Test......Page 61
 Computer Commands......Page 62
 Answers to Self-Reviews......Page 64
 Introduction......Page 66
 The Population Mean......Page 67
 The Sample Mean......Page 68
 The Properties of the Arithmetic Mean......Page 69
 Exercises......Page 70
 The Weighted Mean......Page 71
 The Median......Page 72
 The Mode......Page 74
 Exercises......Page 76
 An Excel Example......Page 77
 The Relative Positions of the Mean, Median, and Mode......Page 78
 Exercises......Page 79
 The Geometric Mean......Page 80
 Exercises......Page 81
 Why Study Dispersion?......Page 82
 Measures of Dispersion......Page 83
 Exercises......Page 85
 Exercises......Page 88
 Exercises......Page 90
 Interpretation and Uses of the Standard Deviation......Page 91
 Exercises......Page 92
 Relative Dispersion......Page 93
 Skewness......Page 94
 Exercises......Page 97
 Measures of Position......Page 98
 Exercises......Page 100
 Exercises......Page 103
 The Mean, Median, and Standard Deviation of Grouped Data......Page 104
 Exercises......Page 109
 Chapter Summary......Page 110
 Chapter Exercises......Page 113
 Data Set Exercises......Page 118
 Practice Test......Page 119
 Computer Commands......Page 120
 Answers to Self-Reviews......Page 121
 Introduction......Page 123
 What is a Probability?......Page 124
 Approaches to Probability......Page 126
 Exercises......Page 129
 Principles of Counting......Page 130
 Exercises......Page 134
 Some Rules for Computing Probabilities......Page 135
 Exercises......Page 139
 Contingency Tables......Page 142
 Tree Diagrams......Page 144
 Exercises......Page 145
 Chapter Summary......Page 147
 Chapter Exercises......Page 148
 Data Set Exercises......Page 154
 Practice Test......Page 155
 Answers to Self-Reviews......Page 156
 Introduction......Page 158
 What is a Probability Distribution?......Page 159
 Random Variables......Page 160
 The Mean, Variance, and Standard Deviation of a Probability Distribution......Page 162
 Exercises......Page 164
 Binomial Probability Distribution......Page 166
 Exercises......Page 172
 Hypergeometric Probability Distribution......Page 175
 Exercises......Page 177
 Poisson Probability Distribution......Page 178
 Chapter Summary......Page 182
 Chapter Exercises......Page 183
 Data Set Exercises......Page 187
 Computer Commands......Page 188
 Answers to Self-Reviews......Page 189
 Introduction......Page 191
 The Family of Uniform Probability Distributions......Page 192
 The Family of Normal Probability Distributions......Page 195
 The Standard Normal Probability Distribution......Page 197
 Exercises......Page 201
 Exercises......Page 204
 Exercises......Page 207
 Exercises......Page 209
 The Normal Approximation to the Binomial......Page 210
 Exercises......Page 213
 Chapter Summary......Page 214
 Chapter Exercises......Page 215
 Computer Commands......Page 220
 Answers to Self-Reviews......Page 223
 Introduction......Page 225
 Sampling Methods......Page 226
 Exercises......Page 230
 Sampling "Error"......Page 231
 Sampling Distribution of the Sample Mean......Page 232
 Exercises......Page 235
 Exercises......Page 242
 Using the Sampling Distribution of the Sample Mean......Page 243
 Sampling Distribution of the Proportion......Page 245
 Chapter Summary......Page 247
 Chapter Exercises......Page 248
 Practice Test......Page 253
 Answers to Self-Reviews......Page 254
 Introduction......Page 255
 Confidence Intervals for a Population Mean......Page 256
 Exercises......Page 261
 Exercises......Page 267
 A Confidence Interval for a Proportion......Page 268
 Exercises......Page 270
 Finite-Population Correction Factor......Page 271
 Exercises......Page 273
 Choosing an Appropriate Sample Size......Page 274
 Chapter Summary......Page 277
 Chapter Exercises......Page 278
 Practice Test......Page 282
 Computer Commands......Page 283
 Answers to Self-Reviews......Page 285
 Introduction......Page 287
 Five-Step Procedure for Testing a Hypothesis......Page 288
 One-Tailed and Two-Tailed Tests of Significance......Page 292
 Testing for a Population Mean: Known Population Standard Deviation......Page 293
 p-Value in Hypothesis Testing......Page 297
 Exercises......Page 299
 Testing for a Population Mean: Population Standard Deviation (?) Unknown......Page 300
 Exercises......Page 305
 Exercises......Page 306
 Tests Concerning Proportions......Page 307
 Exercises......Page 310
 Chapter Summary......Page 311
 Chapter Exercises......Page 312
 Practice Test......Page 316
 Computer Commands......Page 317
 Answers to Self-Reviews......Page 319
 Introduction......Page 321
 Two-Sample Tests of Hypothesis: Independent Samples......Page 322
 Exercises......Page 326
 Two-Sample Tests about Proportions......Page 327
 Exercises......Page 330
 Comparing Population Means with Unknown Population Standard Deviations......Page 331
 Exercises......Page 334
 Two-Sample Tests of Hypothesis: Dependent Samples......Page 335
 Comparing Dependent and Independent Samples......Page 338
 Exercises......Page 340
 Chapter Summary......Page 341
 Chapter Exercises......Page 342
 Data Set Exercises......Page 348
 Practice Test......Page 349
 Computer Commands......Page 350
 Answers to Self-Reviews......Page 353
 Introduction......Page 354
 Comparing Two Population Variances......Page 355
 Exercises......Page 358
 ANOVA Assumptions......Page 359
 The ANOVA Test......Page 361
 Exercises......Page 366
 Inferences about Pairs of Treatment Means......Page 367
 Exercises......Page 369
 Chapter Summary......Page 371
 Chapter Exercises......Page 372
 Practice Test......Page 380
 Computer Commands......Page 381
 Answers to Self-Reviews......Page 383
 Introduction......Page 384
 Regression Analysis......Page 387
 Exercises......Page 391
 The Standard Error of Estimate......Page 393
 Assumptions Underlying Linear Regression......Page 397
 Exercises......Page 398
 Confidence Intervals and Prediction Intervals......Page 399
 Exercises......Page 401
 What is Correlation Analysis?......Page 402
 The Coefficient of Determination......Page 406
 Exercises......Page 407
 Testing the Significance of the Correlation Coefficient......Page 408
 Exercises......Page 409
 More on the Coefficient of Determination......Page 410
 The Relationships among the Coefficient of Correlation, the Coefficient of Determination, and the Standard Error of Estimate......Page 413
 Exercises......Page 415
 Chapter Summary......Page 416
 Chapter Exercises......Page 417
 Data Set Exercises......Page 427
 Computer Commands......Page 428
 Answers to Self-Reviews......Page 432
 Introduction......Page 433
 Multiple Regression Analysis......Page 434
 Exercises......Page 437
 Evaluating a Multiple Regression Equation......Page 439
 Exercises......Page 442
 Inferences in Multiple Linear Regression......Page 443
 Evaluating the Assumptions of Multiple Regression......Page 448
 Linear Relationship......Page 449
 Using Residual Plots......Page 450
 Exercises......Page 456
 Chapter Summary......Page 458
 Chapter Exercises......Page 459
 Data Set Exercises......Page 471
 Practice Test......Page 472
 Computer Commands......Page 473
 Answers to Self-Reviews......Page 475
 Goodness-of-Fit Test: Equal Expected Frequencies......Page 476
 Exercises......Page 481
 Goodness-of-Fit Test: Unequal Expected Frequencies......Page 482
 Limitations of Chi-Square......Page 484
 Contingency Table Analysis......Page 486
 Exercises......Page 490
 Chapter Exercises......Page 491
 Data Set Exercises......Page 496
 Computer Commands......Page 497
 Answers to Self-Reviews......Page 498
 Simple Index Numbers......Page 500
 Construction of Index Numbers......Page 502
 Exercises......Page 504
 Unweighted Indexes......Page 505
 Weighted Indexes......Page 506
 Exercises......Page 509
 Value Index......Page 510
 Exercises......Page 511
 Special-Purpose Indexes......Page 512
 Consumer Price Index......Page 513
 Shifting the Base......Page 515
 Exercises......Page 517
 Chapter Summary......Page 518
 Chapter Exercises......Page 519
 Data Set Exercises......Page 523
 Answers to Self-Reviews......Page 524
 Introduction......Page 526
 Components of a Time Series......Page 527
 A Moving Average......Page 529
 Linear Trend......Page 532
 Least Squares Method......Page 533
 Exercises......Page 536
 Nonlinear Trends......Page 537
 Exercises......Page 539
 Seasonal Variation......Page 540
 Exercises......Page 545
 Chapter Summary......Page 549
 Chapter Exercises......Page 550
 Practice Test......Page 558
 Answers To Self-Reviews......Page 559
 Introduction......Page 561
 Elements of a Decision......Page 562
 Decision Making under Conditions of Uncertainty......Page 563
 Exercises......Page 565
 Expected Opportunity Loss......Page 566
 Maximin, Maximax, and Minimax Regret Strategies......Page 567
 Value of Perfect Information......Page 568
 Sensitivity Analysis......Page 569
 Decision Trees......Page 570
 Chapter Exercises......Page 572
 Answers To Self-Reviews......Page 577
Appendices......Page 579
 Appendix A.1: Answers to Odd-Numbered Chapter Exercises......Page 580
 Appendix A.2: Solutions to Practice Tests......Page 617
 Appendix B.1: Areas Under the Normal Curve......Page 621
 Appendix B.2: Student’s t Distribution......Page 622
 Appendix B.3: Binomial Probability Distribution......Page 624
 Appendix B.4: Poisson Distribution......Page 629
 Appendix B.5: Table of Random Numbers......Page 630
 Appendix B.6: Critical Values of Chi-Square......Page 631
 Appendix B.7: Critical Values of the F Distribution at a 5% Level of Significance......Page 632
Index......Page 637