## Statistical analysis for decision makingThis text is intended for the algebra-based introductory one- or two-term business statistics course found in schools of business or in departments of statistics or mathematics. |

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### Contents

DESCRIPTIONS OF DATA | 17 |

s Graphic Presentation of Frequency Distributions 10 | 18 |

INTRODUCTION | 61 |

Copyright | |

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### Common terms and phrases

analysis of variance arithmetic mean assume average binomial distribution calculation coefficient column computed confidence interval consider correlation curve decision maker decision rule defectives degrees of freedom denoted determine dollars equal example expected opportunity loss expected value figure food expenditures forecast frequency distribution given graph Hence income independent variables indicated interval estimate level of significance measures median method Minitab normal distribution null hypothesis number of degrees observations obtained occur outcomes payoff percentage Poisson Poisson distribution population mean population parameter posterior prior probabilities probability distribution problem procedure proportion purchase random variable regression analysis regression equation regression line reject H0 relationship represent ri ri ri sample mean sampling distribution scores selected significance level simple random sample standard deviation standard error statistical strategy sum of squares tion trend Type II errors units variation weights zero