Business Statistics in Practice

M. Bowerman, B. Bowerman
Business Statistics in Practice
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The new edition of Business Statistics in Practice delivers clear and understandable explanations of business statistics concepts through the use of continuing case studies and an emphasis on business improvement. The cases and examples show real applications of statistics relevant to today's business students. The authors motivate students by showing persuasively how the use of statistical techniques in support of business decision-making helps to improve business processes. A variety of computer centered examples and exercises, and a robust, technology-based ancillary package are designed to help students master this subject. Acknowledging the importance of spreadsheets and statistical software in their statistical instruction, the authors continue to integrate Excel and Minitab output throughout the text. In addition, a new enhanced version of MegaStat, an Excel add-in program designed to optimize Excel for statistical application, is available free on the Student CD. For students and instructors who want to explore statistical concepts from a graphical perspective, Visual Statistics is again available on the Student CD. New Business Improvement icons are integrated throughout the text to illustrate the 'BI' theme.Several new continuing case examples, with new data sets, have been added to the Fourth Edition. Where an example of a statistical technique is applied to reach a business solution, such instances are highlighted by an icon. Benefit : Students will benefit from, and find more motivating, examples that deal with more contemporary industries and easily identifiable business problems. The connection between statistical techniques and business problem-solving is even more firmly established for students. Certain chapters and sections have been abbreviated and generally tightened up, delivering a more concise, digestable presentation to students. Benefit : Students will find the explanations clearer and easier to comprehend than in previous editions. Feature : A greater number of basic exercises have been added, at the request of reviewers and users. Benefit : More balance between computation and interpretation has been achieved with the Fourth Edition.Feature : Output and instruction for SPSS has been selectively incorporated into the Fourth Edition, alongside Excel, Minitab, and Megastat. Benefit : Hoping to better simulate the business environment, an increasing number of schools are selectively using SPSS, a commercially viable software package, rather than an "artificial" Excel "add-in", such as Megastat, when dealing with statistical topics that are not served well by Excel.Feature : Techiques in Hypothesis Testing have been re-cast in "steps" for greater student accessibility, and the Z vs T decision is now governed by sigma rather than sample size. Benefit : Students will find the new, more concise presentation of this difficult subject easier to comprehend.Feature : Chapters on Simple and Multiple Regression have been revised for a clearer and more concise presentation. Benefit : Employing a philosophy of "continuous improvement" with respect to the regression chapters, the authors have delivered a presentation of these topics that students will find friendlier and easier to comprehend. Feature : Latest version of Megastat Excel-add-in package: The coverage and capabilities of the Megastat add-in package, included on the CD ROM that accompanies the book, have been greatly expanded to enhance calculation capabilities. Among the topics now handled by Megastat are: (for descriptive statistics): stem-and-leaf; dot plot; auto histograms; (for hypothesis testing) empirical idea for tolerance intervals, group comparison for unequal variance; comparison of means with unequal variances; test of equal variances; (for ANOVA): Factorial ANOVA; simultaneous inference; one-way design for ANOVA; (for Regression) residual plots; normal plots; outlying influence and observation diagnostics; variance inflation factors; model-building: all possible regressions; step-wise selection; (for NonParametrics) sign test; (for Time Series) decomposition method. Benefit : Many courses in statistics using Excel also require an Excel add-in in order to deal with certain areas of statistics where Excel alone is inadequate. By informal consensus, Megastat is the best Excel add-in package on the market. Feature : Thorough integration of Megastat: The Megastat Excel add-in package, available on the CD of the previous edition of the book, has now been thoroughly integrated into the text. As the authors do with Excel and Minitab, instruction in the use of Megastat, complete with step-by-step screen captures, is offered at the conclusion of most every chapter of the book providing students with clearer direction. Benefit : Students are able to "see" Megastat output in the book and match it against their computer screens as they work using the software. Feature : Consistent theme of business improvement through statistical analysis. Since this is the ultimate goal for statistical analysis in business (to improve business processes), this is B & OĹźs motto in the book. This theme is the foundations for the many case studies and examples found in the text. Benefit : Utilizing the theme of "business improvement" allows the authors to place the technical aspects of business statistics into a credible and motivational real world context. Feature : Unique use of case studies that integrates different statistical areas. Many of BOHĹźs unique case studies span not only within chapters, but also groups of chapters. This leads to additional student relevance, as they become familiar with the real decisions businesses face. Benefit : The continuing nature of the case examples add continuity and context to what otherwise might seem to students a set of disparate, unrelated tools and techniques.Feature : A real emphasis on the importance of variation. This starts in Chapter 1 and continues throughout the book. The practical, continuing case studies that permeate the book are consistently used to highlight this reality. Benefit : Since businesses must satisfy individual customers, the analysis of individual population variation is as important as analyzing the population mean--an important distinction for students to understand.Feature : Utilization of a flexible topic flow that facilitates different topic choices and encourages different teaching approaches. Benefit : Instructors want flexibility, and through the use of optional sections, appendices, and self-learning exercises, this is accomplished. Feature : Modern use of the latest versions of Minitab, Excel. Benefit : Management consulting firms want business graduates that have been exposed to these popular packages, and that can identify the proper package for the business problem at hand. B & O uses Excel for what Excel can do, and uses Minitab for the much more rigorous statistical analysis.
Data wydania: 2006
ISBN: 978-0-07-110837-9, 9780071108379
Język: angielski
Wydawnictwo: McGraw-Hill
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