Business Statistics introduces the students to the fundamentals of and various concepts related to statistics that are helpful in making business decisions. Data are the fulcrum of the field of business statistics and this book provides the conceptual clarity for understanding data. The use of data for decision making in business has gained tremendous momentum. In order to make the learning process easy and interesting, many examples are given in the form of fictitious and real-life business anecdotes. At the end of each chapter, various exercises are given to help the students become adept at using data for decision making.
Numerous examples illustrate the use of software tools like MS Excel, SPSS and RStudio with detailed steps involved. Real-time cases of Indian companies with actual data sourced from their websites have been used for better understanding of the concepts. The aim of this book is to make the learning process as interesting and simple as possible.
- Clear and detailed illustration of how to create tables and use them for making statistical analysis manually
- Numerous diagrams throughout the book for better understanding of the concepts
- Real-time and fictitious examples to encourage critical thinking
- Step-by-step illustration for the use of MS Excel and SPSS for statistical analysis
- Chapter-end exercises (problems and caselets, multiple-choice questions) to test conceptual learning
- Case Study at the end of each chapter for conceptual clarity
New to This Edition
- Latest datasets used to give real-time examples and cases
- Numerous statistical tests solved using R apart from MS Excel and SPSS
- Several examples illustrating the use of RStudio for making statistical analysis
- Includes a licence key for our digital learning app, Cengage app, that provides access to self-assessments, flashcards and additional problems
1 Introduction to Statistics
2 Understanding, Organising and Presenting Data
3 Measures of Central Tendency
4 Measures of Dispersion
5 Skewness, Moments and Kurtosis
6 Basic Concepts of Probability
7 Discrete Probability Distribution
8 Continuous Probability Distribution
9 Sampling and Sampling Distribution
10 Estimation and Confidence Intervals
11 Hypothesis Testing
12 Statistical Inference for Single Population using Hypothesis Testing
13 Statistical Inference about Two Populations using Hypothesis Testing
14 Statistical Inference about Variance of Two Populations using F-Distribution
15 Analysis of Variance and Design of Experiments
16 Chi-Square Tests and Other Non-Parametric Tests
17 Correlation and Simple Regression
18 Multiple Regression and Model Building
19 Index Numbers
20 Forecasting and Time Series
21 Statistical Methods for Quality Management
22 Statistical Decision Theory
References
Appendix
Glossary
Index
J. Joseph Francis
J. Joseph Francis is Associate Professor in Operations at Firebird Institute of Research in Management, Coimbatore. He completed his Bachelors in Engineering from Government College of Technology, Coimbatore and MBA from the School of Management, Pondicherry University. He received his Ph.D. on service quality and productivity from Anna University, Chennai. He has both industrial and academic experience.
