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Statistics for Managers Using Microsoft Excel, Global Edition

Statistics for Managers Using Microsoft Excel, Global Edition

8th Edition

David Levine, David Stephan, Kathryn Szabat

Jan 2017, Paperback, 728 pages
ISBN13: 9781292156347
ISBN10: 1292156341
For orders to USA, Canada, Australia, New Zealand or Japan visit your local Pearson website
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For undergraduate business statistics courses.

Analyzing the Data Applicable to Business

This text is the gold standard for learning how to use Microsoft Excel® in business statistics, helping students gain the understanding they need to be successful in their careers. The authors present statistics in the context of specific business fields; full chapters on business analytics further prepare students for success in their professions. Current data throughout the text lets students practice analyzing the types of data they will see in their professions. The friendly writing style include tips throughout to encourage learning.

The book also integrates PHStat, an add-in that bolsters the statistical functions of Excel.

MyStatLab™ not included. Students, if MyStatLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyStatLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.


MyStatLab from Pearson is the world’s leading online resource for teaching and learning statistics, integrating interactive homework, assessment, and media in a flexible, easy-to-use format. MyStatLab is a course management system that delivers improving results in helping individual students succeed.

First Things First

USING STATISTICS: “The Price of Admission”

FTF.1 Think Differently About Statistics

FTF.2 Business Analytics: The Changing Face of Statistics

FTF.3 Getting Started Learning Statistics

FTF.4 Preparing to Use Microsoft Excel for Statistics

REFERENCES

KEY TERMS

EXCEL GUIDE

1. Defining and Collecting Data

USING STATISTICS: Defining Moments

1.1 Defining Variables

1.2 Collecting Data

1.3 Types of Sampling Methods

1.4 Data Preparation

1.5 Types of Survey Errors

CONSIDER THIS: New Media Surveys/Old Sampling Problems

SUMMARY

REFERENCES

KEY TERMS

USING STATISTICS: Defining Moments, Revisited

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

CardioGood Fitness

Clear Mountain State Student Survey

Learning with the Digital Cases

CHAPTER 1 EXCEL GUIDE

2. Organizing and Visualizing Variables

USING STATISTICS: “The Choice is Yours”

2.1 Organizing Categorical Variables

2.2 Organizing Numerical Variables

2.3 Visualizing Categorical Variables

2.4 Visualizing Numerical Variables

2.5 Visualizing Two Numerical Variables

2.6 Organizing and Visualizing a Mix of Variables

2.7 The Challenge in Organizing and Visualizing Variables

USING STATISTICS: The Choice is Yours, Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

CardioGood Fitness

The Choice is Yours Follow-Up

Clear Mountain State Student Survey

CHAPTER 2 EXCEL GUIDE

3. Numerical Descriptive Measures

USING STATISTICS: More Descriptive Choices

3.1 Central Tendency

3.2 Variation and Shape

3.3 Exploring Numerical Data

3.4 Numerical Descriptive Measures for a Population

3.5 The Covariance and the Coefficient of Correlation

3.6 Statistics: Pitfalls and Ethical Issues

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

CardioGood Fitness

More Descriptive Choices Follow-up

Clear Mountain State Student Survey

CHAPTER 3 EXCEL GUIDE

4. Basic Probability

USING STATISTICS: Possibilities at M&R Electronics World

4.1 Basic Probability Concepts

4.2 Conditional Probability

4.3 Ethical Issues and Probability

4.4 Bayes’ Theorem

CONSIDER THIS: Divine Providence and Spam

4.5 Counting Rules

USING STATISTICS: Possibilities at M&R Electronics World, Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES DIGITAL CASE

CardioGood Fitness

The Choice is Yours Follow-Up

Clear Mountain State Student Survey

CHAPTER 4 EXCEL GUIDE

5. Discrete Probability Distributions

USING STATISTICS: Events of Interest at Ricknel Home Centers

5.1 The Probability Distribution for a Discrete Variable

5.2 Binomial Distribution

5.3 Poisson Distribution

5.4 Covariance of a Probability Distribution and its Application in Finance

5.5 Hypergeometric Distribution

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

CHAPTER 5 EXCEL GUIDE

6. The Normal Distribution and Other Continuous Distributions

USING STATISTICS: Normal Load Times at MyTVLab

6.1 Continuous Probability Distributions

6.2 The Normal Distribution

6.3 Evaluating Normality

6.4 The Uniform Distribution

6.5 The Exponential Distribution

6.6 The Normal Approximation to the Binomial Distribution

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

CardioGood Fitness

More Descriptive Choices Follow-up

Clear Mountain State Student Survey

Digital Case

CHAPTER 6 EXCEL GUIDE

7. Sampling Distributions

USING STATISTICS: Sampling Oxford Cereals

7.1 Sampling Distributions

7.2 Sampling Distribution of the Mean

7.3 Sampling Distribution of the Proportion

SUMMARY

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland Multicomm Services

Digital Case

CHAPTER 7 EXCEL GUIDE

8. Confidence Interval Estimation

USING STATISTICS: Getting Estimates at Ricknel Home Centers

8.1 Confidence Interval Estimate for the Mean (Known)

8.2 Confidence Interval Estimate for the Mean (Unknown)

8.3 Confidence Interval Estimate for the Proportion

8.4 Determining Sample Size

8.5 Confidence Interval Estimation and Ethical Issues

8.6 Application of Confidence Interval Estimation in Auditing

8.7 Estimation and Sample Size Estimation for Finite Populations

8.8 Bootstrapping

USING STATISTICS: Getting Estimates . . . , Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

Sure Value Convenience Stores

CardioGood Fitness

More Descriptive Choices Follow-Up

Clear Mountain State Student Survey

CHAPTER 8 EXCEL GUIDE

9. Fundamentals of Hypothesis Testing: One-Sample Tests

USING STATISTICS: Significant Testing at Oxford Cereals

9.1 Fundamentals of Hypothesis-Testing Methodology

9.2 t Test of Hypothesis for the Mean (Unknown)

9.3 One-Tail Tests

9.4 Z Test of Hypothesis for the Proportion

9.5 Potential Hypothesis-Testing Pitfalls and Ethical Issues

9.6 Power of the Test

USING STATISTICS: Significant Testing . . ., Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

Sure Value Convenience Stores

CHAPTER 9 EXCEL GUIDE

10. Two-Sample Tests

USING STATISTICS: Differing Means for Selling Streaming Media Players at Arlingtons?

10.1 Comparing the Means of Two Independent Populations

10.2 Comparing the Means of Two Related Populations

10.3 Comparing the Proportions of Two Independent Populations

10.4 F Test for the Ratio of Two Variances

10.5 Effect Size

USING STATISTICS: Differing Means for Selling...Revisited

SUMMARY

REFERENCES

KEY TERMS

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

Sure Value Convenience Stores

CardioGood Fitness

More Descriptive Choices Follow-Up

Clear Mountain State Student Survey

CHAPTER 10 EXCEL GUIDE

11. Analysis of Variance

USING STATISTICS: The Means to Find Differences at Arlingtons

11.1 The Completely Randomized Design: One-Way ANOVA

11.2 The Factorial Design: Two-Way ANOVA

11.3 The Randomized Block Design

11.4 Fixed Effects, Random Effects, and Mixed Effects Models

USING STATISTICS: The Means to Find Differences at Arlingtons Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services Phase

Phase

Digital Case

Sure Value Convenience Stores

CardioGood Fitness

More Descriptive Choices Follow-Up

Clear Mountain State Student Survey

CHAPTER 11 EXCEL GUIDE

12. Chi-Square and Nonparametric Tests

USING STATISTICS: Avoiding Guesswork about Resort Guests

12.1 Chi-Square Test for the Difference Between Two Proportions

12.2 Chi-Square Test for Differences Among More Than Two Proportions

12.3 Chi-Square Test of Independence

12.4 Wilcoxon Rank Sum Test: A Nonparametric Method for Two Independent Populations

12.5 Kruskal-Wallis Rank Test: A Nonparametric Method for the One-Way ANOVA

12.6 McNemar Test for the Difference Between Two Proportions (Related Samples)

12.7 Chi-Square Test for the Variance or Standard Deviation

USING STATISTICS: Avoiding Guesswork..., Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

Sure Value Convenience Stores

CardioGood Fitness

More Descriptive Choices Follow-Up

Clear Mountain State Student Survey

CHAPTER 12 EXCEL GUIDE

13. Simple Linear Regression

USING STATISTICS: Knowing Customers at Sunflowers Apparel

13.1 Types of Regression Models

13.2 Determining the Simple Linear Regression Equation

13.3 Measures of Variation

13.4 Assumptions of Regression

13.5 Residual Analysis

13.6 Measuring Autocorrelation: The Durbin-Watson Statistic

13.7 Inferences About the Slopeand Correlation Coefficient

13.8 Estimation of Mean Values and Prediction of Individual Values

13.9 Potential Pitfalls in Regression

USING STATISTICS: Knowing Customers...,Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

Brynne Packaging

CHAPTER 13 EXCEL GUIDE

14. Introduction to Multiple Regression

USING STATISTICS: The Multiple Effects of OmniPower Bars

14.1 Developing a Multiple Regression Model

14.2 r2, Adjusted r2, and the Overall F Test

14.3 Residual Analysis for the Multiple Regression Model

14.4 Inferences Concerning the Population Regression Coefficients

14.5 Testing Portions of the Multiple Regression Model

14.6 Using Dummy Variables and Interaction Terms in Regression Models

14.7 Logistic Regression

USING STATISTICS: The Multiple Effects . . ., Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

CHAPTER 14 EXCEL GUIDE

15. Multiple Regression Model Building

USING STATISTICS: Valuing Parsimony at WSTA-TV

15.1 Quadratic Regression Model

15.2 Using Transformations in Regression Models

15.3 Collinearity

15.4 Model Building

15.5 Pitfalls in Multiple Regression and Ethical Issues

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

The Mountain States Potato Company

Sure Value Convenience Stores

Digital Case

The Craybill Instrumentation Company Case

More Descriptive Choices Follow-Up

CHAPTER 15 EXCEL GUIDE

16. Time-Series Forecasting

USING STATISTICS: Principled Forecasting

16.1 The Importance of Business Forecasting

16.2 Component Factors of Time-Series Models

16.3 Smoothing an Annual Time Series

16.4 Least-Squares Trend Fitting and Forecasting

16.5 Autoregressive Modeling for Trend Fitting and Forecasting

16.6 Choosing an Appropriate Forecasting Model

16.7 Time-Series Forecasting of Seasonal Data

16.8 Index Numbers

Consider This

USING STATISTICS: Principled Forecasting, Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHECKING YOUR UNDERSTANDING

CHAPTER REVIEW PROBLEMS

CASES FOR CHAPTER

Managing Ashland MultiComm Services

Digital Case

CHAPTER 16 EXCEL GUIDE

17. Getting Ready to Analyze Data in the Future

USING STATISTICS: Mounting Future Analyses

17.1 Analyzing Numerical Variables

17.2 Analyzing Categorical Variables

17.3 Introduction to Business Analytics

USING STATISTICS: Back to Arlingtons for the Future

17.4 Descriptive Analytics

17.5 Predictive Analytics

USING STATISTICS: The Future to be Visited

REFERENCES

CHAPTER REVIEW PROBLEMS

CHAPTER 17 EXCEL GUIDE

18. Statistical Applications in Quality Management (online)

USING STATISTICS: Finding Quality at the Beachcomber

18.1 The Theory of Control Charts

18.2 Control Chart for the Proportion: The p Chart

18.3 The Red Bead Experiment: Understanding Process Variability

18.4 Control Chart for an Area of Opportunity: The c Chart

18.5 Control Charts for the Range and the Mean

18.6 Process Capability

18.7 Total Quality Managementice

18.8 Six Sigma

USING STATISTICS: Finding Quality at the Beachcomber, Revisited

SUMMARY

REFERENCES

KEY EQUATIONS

KEY TERMS

CHAPTER REVIEW PROBLEMS

THE HARNSWELL SEWING MACHINE COMPANY CASE

MANAGING ASHLAND MULTICOMM SERVICES

CHAPTER 18 EXCEL GUIDE

19. Decision Making (online)

USING STATISTICS: Reliable Decision Making

19.1 Payoff Tables and Decision Trees

19.2 Criteria for Decision Making

19.3 Decision Making with Sample Information

19.4 Utility

CONSIDER THIS: Risky Business

USING STATISTICS: Reliable Decision-Making, Revisited

SUMMARY 19.23

REFERENCES 19.23

KEY EQUATIONS 19.23

KEY TERMS 19.23

CHAPTER 19 EXCEL GUIDE 19.27

Appendices

A. Basic Math Concepts and Symbols

A.1 Rules for Arithmetic Operations

A.2 Rules for Algebra: Exponents and Square Roots

A.3 Rules for Logarithms

A.4 Summation Notation

A.5 Statistical Symbols

A.6 Greek Alphabet

B. Important Excel and Minitab Skills and Concepts

B.1 Which Excel Do You Use?

B.2 Basic Operations

B.2 Formulas and Cell References

B.4 Entering a Formula

B.5 Formatting Cell Contents

B.6 Formatting Charts

B.7 Selecting Cell Ranges for Charts

B.8 Deleting the “Extra” Histogram Bar

B.9 Creating Histograms for Discrete Probability Distributions

C. Online Resources

C.1 About the Online Resources for This Book

C.2 Accessing the Online Resources

C.3 Details Online Resources

C.4 PHStat

D. Configuring Microsoft Excel

D.1 Getting Microsoft Excel Ready for Use

D.2 Checking for the Presence of the Analysis ToolPak or Solver Add-Ins

D.3 Configuring Microsoft Windows Excel Security Settings

D.4 Opening Pearson-Supplied Add-Ins

E. Tables

E.1 Table of Random Numbers

E.2 The Cumulative Standardized Normal Distribution

E.3 Critical Values of t

E.4 Critical Values of

E.5 Critical Values of F

E.6 Lower and Upper Critical Values, T1, of the Wilcoxon Rank Sum Test

E.7 Critical Values of the Studentized Range, Q

E.8 Critical Values, dI and dU, of the Durbin–Watson Statistic, D (Critical Values Are One-Sided)

E.9 Control Chart Factors

E.10 The Standardized Normal Distribution online

F. Useful Excel Knowledge

F.1 Useful Keyboard Shortcuts

F.2 Verifying Formulas and Worksheets

F.3 New Function Names

F.4 Understanding the Nonstatistical Functions

G. Software FAQs

G.1 PHStat FAQs

G.2 Microsoft Excel FAQs

Self-Test Solutions and Answers to Selected Even-Numbered Problems

Index

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.

About the Book

  • Analyzing data with a focus on software results: the authors believe that using computer software is a vital part of learning statistics. This text emphasizes data analysis through interpretation of the results from Microsoft Excel®, reducing the focus on doing the computations by hand. Excel content includes:
    • End-of-chapter Excel Guides
    • In-depth Excel step-by-step instructions
    • Excel Guide workbooks
    • PHStat, a statistics add-in system for Excel
    • Five appendices:
      • Appendix B introduces the fundamentals of using Excel and Minitab®.
      • Appendix C elaborates on accessing available online resources, including PHStat.
      • Appendix D and F discusses useful Excel operations.
      • Appendix G presents the answers to some frequently-asked questions about Excel and PHStat.
  • Improved compatibility with all Mac Excel versions and OpenOffice.org Calc 3, the open-source, Excel work-alike application (in-depth Excel instructions only).
  • An Integrated Five-step Approach make it easier for students to follow the progression of applying statistics: Define, Collect, Organize, Visualize, Analyze.
  • First Things First sets the context for explaining what statistics is (not what students may think), while ensuring that students understand why learning business statistics is important today. This chapter is especially helpful for instructors using course management tools, including hybrid or online courses; this chapter is designed for distribution before the first class begins.

NEW! First Things First has been redesigned as a "pre-chapter" and contains a new Using Statistics scenario.

  • Using Statistics business scenarios begin each chapter, showing how statistics is used in accounting, finance, information systems, management, or marketing. Scenarios are then used throughout the chapter to provide an applied context for the concepts, to bring students from knowing to applying.

Digital Cases ask students to examine interactive PDF documents and sift through claims and information in order to discover the data most relevant to a business case scenario. Students determine whether the conclusions and claims are supported by the data, and in doing, they discover and learn how to identify common misuses of statistical information.

  • Student Tips in the margin reinforce hard-to-master concepts and provide quick study tips for mastering important details.
  • Getting Ready to Analyze Data in the Future: the final chapter helps students understand how to make decisions about which statistical methods to use in real world problems. This capstone chapter bring the issues in First Things First scenarios full circle, and gives students the ability to apply business statistics to the real world.

UPDATED! For the new edition, the chapter now includes sections on Business Analytics.

  • Case Studies offer realistic business scenarios Apply fundamental concepts. This text contains:
    • Detailed case studies that are included in numerous chapters.
    • A "Managing Ashland MultiComm Services" continuing case.
    • NEW! Recurring student survey case called "The Clear Mountain Student Survey"

MyStatLab™ not included. Students, if MyStatLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyStatLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

MyStatLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them absorb course material and understand difficult concepts.

  • NEW! Excel launch enables students to quickly and easily launch data sets from exercises into a Microsoft Excel spreadsheet for analysis.
  • NEW! Excel 2016 questions (for both Windows® and Mac®) let you take advantage of the latest software.
  • NEW! Learning Catalytics™ questions for Business Statistics help students develop on-the-spot critical thinking and application of statistical concepts. Learning Catalytics is an interactive student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Now included with MyLab & Mastering with eText, Learning Catalytics enables you to generate classroom discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics.