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Statistical methods help make sense of raw data. These principles are useful in many fields. Statistics For Business And Economics (With CD) explains how statistics can help business executives make informed decisions. The authors explain the various statistical concepts from a business perspective.
The book covers the relationship between Data and Statistics. It then goes on to explain Descriptive Statistics, Probability, Distribution, Interval Estimation, Sampling and Hypothesis Tests.
It also covers Inference About Means and Proportions with Two Populations, Test of Goodness of Fit and Independence, Inferences About Population Variances, Regression Analysis : Model Building, Forecasting, Experimental Design and Analysis of Variance. It explains Statistical Methods for Quality Control, Index Numbers, Nonparametric Methods, and Decision Analysis.
The book lays stress on p-values in hypothesis testing. The authors provide concept definitions and also demonstrate how these concepts find applications in real situations. The book also explains how to use applications like Excel and MINITAB in performing statistical analysis of data. The authors discuss the various statistical methods within a practical setting.
The chapters begin with Statistics in Practice sections. These highlight how the concepts that are to be the focus of that chapter find practical applications in real life. The Notes and Comments sections add some important side notes to the points covered.
Statistics For Business And Economics (With CD) also provides real examples to illustrate the techniques used. Each section in the book ends with two kinds of exercises, Methods Exercises and Application Exercises. The first kind of exercises concentrates on providing students with practice in using problem solving methods and formulas. The Application Methods provide exercises that allow the students to apply what they have learnt to try and find solutions to practical problems.
