Business Statistics (Mystatlab)

Cover 1 Title Page 4 Copyright Page 5 ABOUT THE Author 7 Supplements 17 Table of Contents 10 Preface 14 Acknowledgments 19 Dear Students 23 Index of Applications 24 A 24 B 24 C 24 D 24 E 24 F 25 G 25 H 25 L 25 M 26 P 26 S 26 T 26 1 An Introduction to Business Statistics 28 1.1 Business Statistics and Their Uses 29 1.2 Data 31 1.3 Descriptive and Inferential Statistics 38 1.4 Ethics and Statistics—It’s a Dangerous World of Data Out There 41 Summary 43 Key Terms 44 Problems 44 Solutions to YOUR TURN 46 2 Displaying Descriptive Statistics 48 2.1 The Role Technology Plays in Statistics 50 2.2 Displaying Quantitative Data 52 2.3 Displaying Qualitative Data 69 2.4 Contingency Tables 82 2.5 Stem and Leaf Display 86 2.6 Scatter Plots 88 Summary 93 Key Terms 94 Problems 94 Solutions to YOUR TURN 100 3 Calculating Descriptive Statistics 104 3.1 Measures of Central Tendency 105 3.2 Measures of Variability 118 3.3 Using the Mean and Standard Deviation Together 128 3.4 Working with Grouped Data 139 3.5 Measures of Relative Position 143 3.6 Measures of Association Between Two Variables 153 Summary 159 Key Terms 160 Equations 161 Problems 164 Solutions to YOUR TURN 168 4 Introduction to Probabilities 174 4.1 An Introduction to Probabilities 175 4.2 Probability Rules for More Than One Event 183 4.3 Counting Principles 203 Summary 210 Key Terms 211 Equations 211 Problems 213 Solutions to YOUR TURN 216 5 Discrete Probability Distributions 220 5.1 Introduction to Discrete Probability Distributions 222 5.2 Binomial Distributions 234 5.3 Poisson Distributions 245 5.4 The Hypergeometric Distribution 256 Summary 262 Key Terms 263 Equations 263 Problems 264 Solutions to YOUR TURN 269 6 Continuous Probability Distributions 274 6.1 Continuous Random Variables 275 6.2 Normal Probability Distributions 277 6.3 Exponential Probability Distributions 296 6.4 Uniform Probability Distributions 300 Summary 306 Key Terms 307 Equations 307 Problems 308 Solutions to YOUR TURN 313 7 Sampling and Sampling Distributions 316 7.1 Why Sample? 317 7.2 Types of Sampling 318 7.3 Sampling and Nonsampling Errors 325 7.4 The Central Limit Theorem 328 7.5 The Sampling Distribution of the Proportion 344 Summary 350 Key Terms 351 Equations 352 Problems 352 Solutions to YOUR TURN 356 8 Confidence Intervals 360 8.1 Point Estimates 361 8.2 Calculating Confidence Intervals for the Mean when the Standard Deviation (σ) of a Population Is Known 362 8.3 Calculating Confidence Intervals for the Mean when the Standard Deviation (σ) of a Population Is Unknown 374 8.4 Calculating Confidence Intervals for Proportions 381 8.5 Determining the Sample Size 386 8.6 Calculating Confidence Intervals for Finite Populations 393 Summary 398 Key Terms 399 Equations 399 Problems 402 Solutions to YOUR TURN 405 9 Hypothesis Testing for a Single Population 410 9.1 An Introduction to Hypothesis Testing 411 9.2 Hypothesis Testing for the Population Mean When σ Is Known 417 9.3 Hypothesis Testing for the Population Mean when σ Is Unknown 430 9.4 Hypothesis Testing for the Proportion of a Population 439 9.5 Type II Errors 443 Summary 452 Key Terms 453 Equations 453 Problems 454 Solutions to YOUR TURN 459 10 Hypothesis Tests Comparing Two Populations 464 10.1 Comparing Two Population Means with 466 Independent Samples 466 Known Population Standard Deviations (σ[sub(1)] and ((σ[sub(2)]) 466 10.2 Comparing Two Population Means with 475 Independent Samples 475 Unknown Population Standard Deviations ((σ[sub(1)] and (σ[sub(2)]) 475 10.3 Hypothesis Testing With Dependent Samples 491 10.4 Comparing Two Population Proportions with Independent Samples 501 Summary 511 Key Terms 512 Equations 512 Problems 516 Solutions to YOUR TURN 521 11 Analysis of Variance (ANOVA) Procedures 528 11.1 One-Way ANOVA: Examining the Effect a Single Factor Has on theEffect a Single Factor Has on the Means of Populations 530 11.2 Randomized Block ANOVA: Examining the Effects of a Single Factor by Blocking a Second Factor 550 11.3 Two-Way ANOVA: Examining the Effects Two Factors Have on the Means of Populations 567 Summary 584 Key Terms 586 Equations 587 Problems 590 Solutions to YOUR TURN 595 12 Chi-Square Tests 602 12.1 Comparing Two or More Population Proportions 604 12.2 Determining If Observed Frequencies Follow a Known Probability Distribution 612 12.3 Testing the Independence of Two Variables 632 Summary 639 Key Terms 640 Equations 640 Problems 641 Solutions to YOUR TURN 646 13 Hypothesis Tests for the Population Variance 652 13.1 Testing the Variance of a Single Population 653 13.2 Comparing the Variances of Two Populations 661 Summary 671 Equations 671 Problems 672 Solutions to YOUR TURN 675 14 Correlation and Simple Linear Regression 678 14.1 Dependent and Independent Variables 680 14.2 Correlation Analysis 680 14.3 Simple Linear Regression Analysis 687 14.4 Using a Regression to Make a Prediction 699 14.5 Testing the Significance of the Slope of the Regression Equation 706 14.6 Assumptions for Regression Analysis 711 14.7 A Simple Regression Example with a Negative Correlation 714 14.8 Some Final (but Very Important) Thoughts 723 Summary 724 Key Terms 725 Equations 726 Problems 728 Solutions to YOUR TURN 731 15 Multiple Regression and Model Building 736 15.1 Developing the Multiple Regression Model 737 15.2 Explaining the Variation of the Dependent Variable 744 15.3 Inferences about the Independent Variables 753 15.4 Using Qualitative Independent Variables 759 15.5 Model Building 766 Summary 783 Key Terms 784 Equations 785 Problems 786 Solutions to YOUR TURN 788 16 Forecasting 794 16.1 Introduction to Forecasting 795 16.2 Smoothing Forecasting Methods 797 16.3 Forecasting with Regression Analysis 810 16.4 Forecasting with Seasonality 824 Summary 841 Key Terms 842 Equations 843 Problems 844 Solutions to YOUR TURN 847 17 Decision Analysis (online) 854 17.1 Introduction to Decision Analysis 855 17.2 Constructing a Decision Table 856 17.3 Decision Making Under Uncertainty 859 17.4 Decision Making Under Risk 865 17.5 Decision Making Using Decision Trees 869 17.6 Using Bayes’ Theorem to Calculate Posterior Probabilities 880 Summary 885 Key Terms 886 Equations 887 Problems 887 Solutions to YOUR TURN 890 18 Nonparametric Statistics (online) 905 18.1 Introduction to Nonparametric Statistics 906 18.2 The Sign Test 908 18.3 The Wilcoxon Rank-Sum Test for Two Independent Samples 918 18.4 The Wilcoxon Signed-Rank Test for Two Dependent Samples 926 18.5 The Kruskal-Wallis One-Way ANOVA 931 18.6 The Spearman Rank-Order Correlation Coefficient 935 Appendix C: Tables for Chapter 952 Summary 941 Key Terms 942 Equations 943 Problems 944 Solutions to YOUR TURN 948 Appendix A 963 Table 1 Binomial Probabilities 963 Table 2 Poisson Probabilities 974 Table 3 Cumulative Probabilities for the Standard Normal Distribution 979 Table 4 Cumulative Probabilities for the Standard Normal Distribution 980 Table 5 Student’s t-distribution 981 Table 6 F-distribution 984 Table 7 Critical Values of the Studentized Range, Q 994 Table 8 Chi–Square Distribution 997 Table 9 Critical Values for the Durbin-Watson Statistic 998 Appendix B: Answers to Selected Even-Numbered Problems 1001 Credits 1069 Index 1071 A 1071 B 1071 C 1071 D 1072 E 1073 F 1073 G 1075 H 1075 I 1076 J 1076 K 1076 L 1076 M 1076 N 1076 O 1077 P 1077 Q 1078 R 1078 S 1079 T 1080 U 1080 V 1081 W 1081 Y 1081 Z 1081 This book eliminates the intimidation factor from learning statistics for business. This edition maintains Donnelly's successful straightforward, conversational approach that explains each concept and why it is important directly to students. Through an abundance of comments that clarify specific topics, a variety of applications, and Your Turn practice throughout each chapter, students see business statistics in action, both in the classroom and in the world around them