Basic business statistics for managers
This guide to business statistics offers easy-to-follow explanations of how the numbers work and what they mean. Using examples taken from real-life business situations, this book supplies step-by-step explanations of how to calculate averages, rates of return, compounding rates, chi squares, probability, and more. Readers will quickly become familiar with variance analysis, regression and correlation, trend analysis, compound growth rates, and index numbers. There is a special chapter on the use of statistics with personal computers. Illustrated with charts and graphs, this book is an excellent resource for managers who need to improve their knowledge of how numbers can be developed, used, and interpreted.
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accordingly actual adjusted advertising analyze annual Answer antilog arithmetic mean assume bar chart basic business world calculate chance chapter class intervals clearly coefficient of determination coins column combined compound growth rate Consumer Price Index cost decimal degrees of freedom difference divide dollar easy equal example executives Exercise FIGURE formula frequency distribution geometric mean given harmonic mean households hypothesis illustrate index numbers interest rate investment involved kind laws of probability least squares linear equation mailing measure month multiply normal distribution null hypothesis original numbers payments percent percentage period plant population present value analysis Price Index problem procedure random sampling rate of return ratio readership relationship represents result seasonal indexes seasonal variation series of numbers significant simple specified square root squared deviations standard deviation standard error statistical SUMMARY survey trend units variable versus weighted average zero