Stats Means Business: Statistics and Business Analytics for Business, Hospitality and Tourism'Stats Means Business' is an introductory textbook aimed at Business Studies students who require guidance in the area of statistics. It minimizes technical language, provides clear definition of key terms, and gives emphasis to interpretation rather than technique. 'Stats Means Business' enables readers to: * appreciate the importance of statistical analysis in business * understand statistical techniques * develop judgment in the selection of appropriate statistical techniques * interpret the results of statistical analysis There is an overwhelming need for successful managers to be able to deal competently with numerical information and this text is developed with this in mind by providing worked examples and review questions which are rooted in viable business contexts. Each chapter includes guidance on using Excel and Minitab to produce the analysis described and explained in the chapter. The start of every chapter identifies aims and summarizes content and each is written in an accessible style. Model solutions are provided for three problems in each chapter and further solutions are available on a web site to accompany the book. The book is suitable for first year undergraduate courses, MBA Programmes and anyone who needs support and guidance in the area of statistics. |
Contents
1 Starting up | 1 |
2 Presenting data | 24 |
3 Summarizing univariate data | 63 |
4 Summarizing bivariate data | 102 |
5 Assessing risk | 143 |
6 Putting probability to work | 172 |
7 Modelling populations | 197 |
8 Statistical decision making | 232 |
9 Statistical decision making using bivariate data | 278 |
10 Managing statistical research | 312 |
Appendix 1 Statistical tables | 331 |
Appendix 2 Answers and selected worked solutions to review questions | 338 |
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Common terms and phrases
95 per cent analysis bar chart binomial distribution calculate cent confidence interval cent level column location command window correlation coefficient cumulative frequency cumulative probability customers data in Example degrees of freedom equation females Figure find the probability grouped frequency distribution histogram interval estimate leaf digits leaf display less level of significance line of best look measure of location median menu MINITAB minutes moving averages null hypothesis observed values outcomes plot Poisson distribution population mean population standard deviation predict prediction interval probability distribution produce quantitative data quartile random sample reject H0 represent sample data sample mean sample results sampling distribution scatter diagram selected set of data SIQR slope specify square standard error Standard Normal Distribution stem and leaf stem digit stem line subtract Table tail area temperature test statistic Test the hypothesis three decimal places variable zero