Applied Business Statistics

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Juta, 1993 - Commercial statistics - 413 pages
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Applied Business Statistics: Methods and Excel-basedapplications (second edition) is an introductory Statistics text written specifically for Management students who require an understanding of the role of Statistics in analysing business data in fields such as Marketing, Finance, Human Resources, Production and Logistics. The primary focus of this text is to empower management students with statistical decision making skills so that they become active participants rather than passive observers in business situations where statistical findings are reported and discussed as part of a management decision making process. The text is divided into three major sections: „h exploratory data analysis
„h statistical inferences, and
„h statistical modelling. Each section focuses on a different role of Statistics as a decision support tool. Emphasis is therefore placed on: „h the data requirements for the various techniques and issues of data quality
„h indentifying likely application areas through numerous illustrative examples
„h noting the limitations of techniques for decision analysis, and
the valid management interpretation of statistical findings. A new feature of this edition of Applied Business Statistics is the use of computer software such as Excel to perform statistical analysis. Excel・s statistical capabilities are illustrated through numerous worked examples found in the text. Students are given the opportunity to familiarize themselves with Excel・s statistical capabilities by applying them to data sets of business problems, which are available on the accompanying CD. Students can monitor their learning with the help of the exercises at the end of every chapter. Each statistical technique is developed through business-related worked examples drawn from the author・s diverse work experiences as a statistical consultant. In this way, a student can readily grasp the basic concept of the technique as well as see how it would be applied in practice. This combination of method and application should prove helpful to both student and lecturer. With a working knowledge of Excel, students can become managers who are able to design and conduct their own statistical analysis in the workplace. Applied Business Statistics is therefore accessible to all students, as only a basic level of mathematical ability is required to work through this book.

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