Statistics for Business and Economics, 11th Edition

  • includes Printed Access Card
  • David R. Anderson University of Cincinnati
  • Dennis J. Sweeney University of Cincinnati
  • Thomas A. Williams Rochester Institute of Technology
  • ISBN-10: 0324783248  |  ISBN-13: 9780324783247
  • 1120 Pages
  • Previous Editions: 2009, 2008, 2005
  • © 2011 | Published
  • Newer Edition Available
  • Instructor Companion Site
  • Request a Copy
     

    About

    Overview

    Discover how the most trusted approach to statistics today is Simply Powerful. The latest market-leading text from respected authors Anderson/Sweeney/Williams, STATISTICS FOR BUSINESS AND ECONOMICS, 11e, introduces sound statistical methodology within a strong applications setting like no other text. The authors clearly demonstrate how statistical results provide insights into business decisions and present solutions to contemporary business problems. New cases and more than 350 real business examples and memorable exercises, 150 of which are new in this edition, present the latest statistical data and business information. With this book's comprehensive coverage and unwavering accuracy, you select the topics best for your course, including thorough coverage of the latest statistical and business software. Up-to-date coverage of MiniTab 15 and Excel 2007, along with StatTools and other leading Excel 2007 statistical add-ins within chapter appendices, provides ultimate flexibility with corresponding time-saving data sets on CD and online. Author-written support materials and CengageNOW online course management system offer time-saving, complete support to help you ensure student understanding. With its proven effective problem-scenario approach, flexibility and trusted accuracy, Anderson/Sweeney/Williams' STATISTICS FOR BUSINESS AND ECONOMICS, 11e is the Simply Powerful solution for your course. The Student Essential Site PAC (Printed Access Card) that comes with the new book includes: Case Files, Example Files, Problem Files, Tutorials, Solvertable, Palisade DecisionTools (StatTools), Excel Tutorial.


    Additional Product Information

    Features/Benefits

    • TRUSTED TEAM OF EXPERT AUTHORS ENSURES THE MOST ACCURATE, PROVEN PRESENTATION. As prominent, respected leaders and active consultants in business and statistics today, authors David R. Anderson, Dennis J. Sweeney, and Thomas A. Williams provide an accurate presentation of statistical concepts you can trust with every edition.
    • LEADING PROBLEM-SCENARIO APPROACH HELPS STUDENT UNDERSTAND AND APPLY CONCEPTS. A hallmark strength of this text, this unique approach helps students understand statistical techniques within an applications setting. The statistical results provide insights into business decisions and detail how statistics are used within business today to solve problems.
    • SYSTEMATIC APPROACH EMPHASIZES PROVEN METHODS AND APPLICATIONS. Students first develop a computational foundation and learn the use of techniques before moving to statistical application and interpretation of the value of techniques. Methods Exercises at the end of each section stress computation and use of formulas, while Application Exercises require students to use what they know about statistics to address real-world problems.
    • EXPANDED COVERAGE OF LEADING SOFTWARE PROVIDES ULTIMATE FLEXIBILITY. Expanded, strengthened coverage of Microsoft® Office Excel® 2007 and Minitab 15 is still presented in chapter appendices to give you the flexibility of using this software or omitting this coverage as you teach. The book's Student CD provides time-saving data files and tools to efficiently complete text exercises. The Student CD also includes appendices that address Excel 2003 and Minitab 14 with data sets for those who continue to use these earlier versions of the software.
    • CENGAGENOW ONLINE COURSE MANAGEMENT SYSTEM PROVIDES STUDENT RESULTS NOW! This robust, online course management system gives you more control in less time and delivers better student outcomes -- NOW. CengageNOW includes teaching and learning resources organized around lecturing, creating assignments, grading, quizzing, and tracking student progress and performance. Flexible assignments, automatic grading and a gradebook option provide more control while saving you valuable time. A Personalized Study diagnostic tool empowers students to master concepts, prepare for exams, and become more involved in class.
    • USE OF CUMULATIVE STANDARD NORMAL DISTRIBUTION TABLE PREPARES STUDENTS TO WORK WITH STATISTICAL SOFTWARE. To more effectively prepare today's students to use computer software in statistics, this book incorporates a normal probability table that is consistent with today's statistical software. This cumulative normal probability table also makes it easier to compute p-values for hypothesis testing.
    • SIMPLIFIED INTRODUCTION TO P-VALUES CLARIFIES UNDERSTANDING FOR STUDENTS. As in the previous edition, this edition emphasizes the use of p-values as the preferred approach to hypothesis testing. To further clarify the introduction of this concept for students, the authors now separate a simplified conceptual definition of p-values from operational definitions that clarify how the p-value is computed for a lower-tail test, an upper-tail test, and a two-tail test.
    • STUDENTS LEARN TO USE SOFTWARE TO COMPUTE P-VALUES. For your flexibility, an optional appendix clearly demonstrates how to use MINITAB and Excel to compute p-values associated with z, t, and F test statistics. This coverage is particularly helpful when discussing hypothesis testing (Chs. 9-16).

    Table of Contents

    1. Data and Statistics.
    2. Descriptive Statistics: Tabular and Graphical Presentations.
    3. Descriptive Statistics: Numerical Measures.
    4. Introduction to Probability.
    5. Discrete Probability Distributions.
    6. Continuous Probability Distributions.
    7. Sampling and Sampling Distributions.
    8. Interval Estimation.
    9. Hypothesis Tests.
    10. Inference About Means and Proportions with Two Populations.
    11. Inferences About Population Variances.
    12. Tests of Goodness of Fit and Independence.
    13. Experimental Design and Analysis of Variance.
    14. Simple Linear Regression.
    15. Multiple Regression.
    16. Regression Analysis: Model Building.
    17. Index Numbers.
    18. Time Series Analysis and Forecasting.
    19. Nonparametric Methods.
    20. Statistical Methods for Quality Control.
    21. Decision Analysis.
    22. Sample Survey (Online only).
    Appendix A: References and Bibliography.
    Appendix B: Tables.
    Appendix C: Summation Notation.
    Appendix D: Self-Test Solutions and Answers to Even-Numbered. Exercises
    Appendix E: Using Excel Functions.
    Appendix F: Computing p-Values Using Minitab and Excel.

    What's New

    • REVISED CHAPTER ON TIME SERIES ANALYSIS AND FORECASTING OFFERS CLEARER FOCUS. This completely rewritten chapter (Ch. 18) now focuses more on using the pattern in a time series plot to select an appropriate forecasting method. An optional appendix on forecasting using StatTools Excel Add-in offers new and updated exercises.
    • REVISED CHAPTER ON NONPARAMETRIC METHODS HIGHLIGHTS THE CONTRASTS BETWEEN METHODS AND THEIR COUNTERPARTS. This edition's updated treatment of nonparametric methods (Ch. 10) now contrasts each nonparametric method with its parametric counterpart, describing how fewer assumptions are required for nonparametric versions. Students examine the uses of the sign test, Wilcoxon Rank-Sum test, Mann-Whitney-Wilcoxon, Kurskal-Wallis test and rank correlation. New end-of-chapter appendices describe how to use Minitab, Excel, and StatTools to implement nonparametric methods and include 27 new data sets.
    • INTRODUCTION OF STATTOOLS EXCEL ADD-IN PREPARES STUDENTS FOR PROFESSIONAL SUCCESS. Now you can equip your students with the skills to use StatTools, the industry-standard statistics add-in for Excel 2007. StatTools, developed by Palisade Corporation, extends the range of statistical options for Excel users. Optional chapter appendices throughout this edition demonstrate how to complete statistical procedures from the chapter using the popular StatTools.
    • CHANGES IN TERMINOLOGY MORE ACCURATELY DESCRIBE DATA. Rather than classifying nominal and ordinal data as qualitative and classifying interval and ratio data as quantitative, as in previous editions, the authors now refer to nominal and ordinal data as categorical data. Because nominal and ordinal data use labels or names to identify categories of like items, the term categorical is more descriptive.
    • NEW INTRODUCTION TO DATA MINING FAMILIARIZES STUDENTS WITH THIS EMERGING FIELD. Now you can give your students an overview of the relatively new field of data mining and data warehousing with this edition's new coverage. Students gain an understanding of how the fields of statistics and computer science work together to make data mining operational and valuable.
    • NEW EMPHASIS ON ETHICAL ISSUES IN STATISTICS EXAMINES THE PROFESSIONAL'S RESPONSIBILITIES. As ethical issues continue to grow in importance in today's business world, the authors respond with new, useful material in Chapter 1 that discusses the ethical issues students and professionals should consider when presenting and interpreting statistical information.
    • UPDATED EXCEL APPENDIX EMPHASIZES ADD-IN TOOLS FOR TABULAR AND GRAPHICAL DESCRIPTIVE STATISTICS. A revised end-of-chapter appendix (Ch. 2) now clearly demonstrates how students can use Excel Add-ins Chart Tools, PivotTable Report, and PivotChart Report to enhance the software's capabilities for displaying tabular and graphical descriptive statistics.
    • EXPANDED COVERAGE OF BOX PLOTS EMPHASIZES COMPARATIVE ANALYSIS. The treatment of box plots in Chapter 2 has been expanded to include relatively quick and easy comparisons of two or more data sets. This edition uses a topic of interest to students -- typical starting salary data for accounting, finance, management, and marketing majors -- to illustrate box plot multi-group comparisons.
    • UPDATED COVERAGE OF SAMPLING MATERIAL (CH. 7) NOW CLARIFIES DISTINCTIONS FOR STUDENTS. This edition now addresses the concepts of a sampled population and a frame. The book clarifies the distinction between sampling from a finite population and an infinite population. A practical advice section emphasizes the importance of maintaining close correspondence between the sampled population and the target population.
    • REVISED INTRODUCTION TO HYPOTHESIS TESTING CLARIFIES GUIDELINES FOR STUDENTS. Your students will find it easier to identify the null and alternative hypotheses with this edition's clearer guidelines. Students learn to consider the context of the situation and the purpose for taking the sample -- whether it's supporting research or challenging an assumption -- as they select the correct hypotheses.
    • NEW COVERAGE OF PRECISIONTREE EXCEL ADD-IN PREPARES STUDENTS FOR DECISION ANALYSIS. This new, optional appendix gives you the flexibility to introduce PrecisionTree Add-in to your students. New coverage of PrecisionTree, a popular Excel add-in developed by Palisade Corporation, helps your students successfully complete decision analysis.
    • NEW CASE PROBLEMS ALLOW STUDENTS TO ANALYZE A VARIETY OF DATA. Five new case problems in this edition bring the total number of cases to 31. New case problems cover descriptive statistics (Ch. 3) and hypothesis testing (Ch. 9). Three additional new case problems address regression (Chs. 14, 15, and 16) and provide opportunities to analyze larger data sets and prepare managerial reports based on results.
    • NEW "STATISTICS IN PRACTICE" APPLICATIONS CAPTURE ATTENTION AT THE START OF EACH CHAPTER. Each chapter begins with a "Statistics in Practice" vignette that draws students' attention into the chapter as it describes how the statistical methodology covered in the chapter impacts business today. Scenarios from Oceanwide Seafood (Ch. 4) and dunnhumby, the London-based marketing services company, (Ch. 15) are new to this edition.
    • MORE THAN 150 NEW EXAMPLES AND EXERCISES REFLECT THE LATEST REAL DATA. Text examples and exercises throughout this edition offer most current actual data and references from statistical information. This edition now offers a total of more than 350 real data examples and exercises, including 150 new updates that emphasize application as well as solid statistical methodology. Incorporating data from sources also referenced by The Wall Street Journal, USA Today, Barron's and others helps the authors demonstrate the many uses of statistics in business and economics today.

    Learning Resource Bundles

    Learning Resource Bundles

    Convenient, cost-effective bundles provide additional resources to boost student engagement. Contact your Learning Consultant for more information.


    Bundle: Text + EasyStat Digital Tutor Printed Access Card Microsoft® Excel® 2007
    ISBN-10: 1111297584  | ISBN-13: 9781111297589


    Bundle: Text + CengageNOW on Blackboard® Printed Access Card
    ISBN-10:  1111231028  | ISBN-13:  9781111231026


    Bundle: Text + CengageNOW on WebCT™ Printed Access Card
    ISBN-10:  1111231036  | ISBN-13:  9781111231033


    Printed Text + CengageNOW 2-Semester Instant Access Code
    ISBN-10:  1111122970  | ISBN-13:  9781111122973


    Bundle: Text + CengageNOW 2-Semester Printed Access Card
    ISBN-10:  1111122962  | ISBN-13:  9781111122966


    Bundle: Text + Aplia 2-Semester Printed Access Card
    ISBN-10:  1133398375  | ISBN-13:  9781133398370


    Printed Text + Aplia 2-Semester Instant Access
    ISBN-10:  1285339061 | ISBN-13:  9781285339061


    Supplements

    Instructor Supplements

    Instructor Supplements

    All supplements have been updated in coordination with the main title. Select the main title's "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

    Statistics for Business and Economics (Book Only)  (ISBN-10: 0324783256 | ISBN-13: 9780324783254)


    Aplia  (ISBN-10: 0840047444 | ISBN-13: 9780840047441)


    Solutions Manual for Statistics for Business and Economics  (ISBN-10: 053845332X | ISBN-13: 9780538453325)

    In response to reviewer requests, this manual now shows the exercise solution steps using the cumulative normal distribution with detailed explanations about how to compute p-values for hypothesis testing. Prepared by the text authors to ensure the highest quality and accuracy, these solutions for all problems in the text give you the flexibility to effectively plan, assign and efficiently grade homework. This Solutions Manual is available in printed form, on the IRCD or the password-protected section instructor web site.


    Online Content, 2 terms (12 months) Instant Access  (ISBN-10: 0840036809 | ISBN-13: 9780840036803)

    Now your students can access this edition is a convenient digital format that offers the same rich visuals and accurate, proven presentation as the printed book.


    Online Content 2-Semester  (ISBN-10: 0840036795 | ISBN-13: 9780840036797)

    Now your students can access this edition is a convenient digital format that offers the same rich visuals and accurate, proven presentation as the printed book.


    CengageNOW 2-Semester Instant Access Code  (ISBN-10: 0538498080 | ISBN-13: 9780538498081)

    This robust, online course management system gives you more control in less time and delivers better student outcomes -- NOW. CengageNOW includes teaching and learning resources organized around lecturing, creating assignments, grading, quizzing, and tracking student progress and performance. Flexible assignments, automatic grading and a gradebook option provide more control while saving you valuable time. A Personalized Study diagnostic tool empowers students to master concepts, prepare for exams, and become more involved in class.


    CengageNOW 2-Semester  (ISBN-10: 0538498072 | ISBN-13: 9780538498074)

    This robust, online course management system gives you more control in less time and delivers better student outcomes -- NOW. CengageNOW includes teaching and learning resources organized around lecturing, creating assignments, grading, quizzing, and tracking student progress and performance. Flexible assignments, automatic grading and a gradebook option provide more control while saving you valuable time. A Personalized Study diagnostic tool empowers students to master concepts, prepare for exams, and become more involved in class.


    Instructor's Resource CD-ROM  (ISBN-10: 0538453249 | ISBN-13: 9780538453240)

    Place all of the key teaching resources you need at your fingertips with this all-in-one source for planning, teaching, grading and assessing student understanding and progress. This CD includes the Test Bank in Word and ExamView®, Solutions Manual, Solutions to Case Problems and PowerPoint® presentation slides.


    Bind in Printed Access Card  (ISBN-10: 032478323X | ISBN-13: 9780324783230)

    Now your students can access this edition is a convenient digital format that offers the same rich visuals and accurate, proven presentation as the printed book.


    PowerPoint® Presentation Slides for Statistics for Business Economics  (ISBN-10: 053845329X | ISBN-13: 9780538453295)

    Bring your lectures to life, clarify difficult concepts, and provide guides for student note-taking and study with these animated presentation slides. Step-by-step graphics that correspond with the text help ensure student attention and understanding. For your convenience slides are available on the IRCD.


    Aplia ITS Card 2-Semester Printed Access Card for Decision Science  (ISBN-10: 0324662971 | ISBN-13: 9780324662979)

    Aplia is dedicated to improving students' learning by increasing their effort and engagement with your course. Founded by an instructor for other instructors, Aplia offers students premium, automatically graded assignments with detailed explanations that ensure they put forth effort on a regular basis. Aplia saves instructors valuable time they'd otherwise spend on routine grading while giving students an easy way to stay on top of coursework with regularly scheduled assignments. These assignments have been developed for a range of textbooks and are easily customized for individual teaching schedules. Currently, Aplia supports college-level courses and has been used by more than 1,000,000 students at over 1,300 institutions. Aplia's paramount goal is to give instructors and students a first-rate learning experience, and we always want to hear from our users. As you explore the features and benefits that Aplia has to offer, we hope to hear from you as well. Welcome to Aplia.


    Instructor's Edition  (ISBN-10: 0538451491 | ISBN-13: 9780538451499)

    Find all the teaching assistance you need with the useful teaching notes, tips, suggestions and solutions surrounding actual student text pages in this helpful Instructor's Edition. This market-leading text from well-respected authors Anderson/Sweeney/Williams introduces sound statistical methodology within a strong applications setting using a wealth of real business examples.


    Statistics for Business and Economics, International Edition  (ISBN-10: 0538471883 | ISBN-13: 9780538471886)

    This market-leading text from well-respected authors Anderson/Sweeney/Williams introduces sound statistical methodology within a strong applications setting. A wealth of real business examples, proven methods, and application exercises within STATISTICS FOR BUSINESS AND ECONOMICS, 11e, International Edition clearly demonstrate how statistical results provide insights into business decisions and present solutions to contemporary business problems. Comprehensive coverage, trusted for its accuracy, allows you to select the topics best for your course, including coverage of the latest statistical and business software to manage statistical information. This edition's accessible approach is strengthened with the innovative new CengageNOW integrated online course management and learning system that saves you time while using personalized study plans to ensure student understanding.


    Student Supplements

    Student Supplements

    All supplements have been updated in coordination with the main title. Select the main title's "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

    Statistics for Business and Economics (Book Only)  (ISBN-10: 0324783256 | ISBN-13: 9780324783254)


    Aplia  (ISBN-10: 0840047444 | ISBN-13: 9780840047441)


    Aplia 1-Semester Instant Access  (ISBN-10: 1111927332 | ISBN-13: 9781111927332)

    Succeed in your course with 1 semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for STATISTICS FOR BUSINESS AND ECONOMICS, 11th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.


    Online Content, 2 terms (12 months) Instant Access  (ISBN-10: 0840036809 | ISBN-13: 9780840036803)

    Now you can access this edition is a convenient digital format that offers the same rich visuals and accurate, proven presentation as the printed book.


    CengageNOW 2-Semester Instant Access Code  (ISBN-10: 0538498080 | ISBN-13: 9780538498081)

    CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.


    Bind in Printed Access Card  (ISBN-10: 032478323X | ISBN-13: 9780324783230)

    Now you can access this edition is a convenient digital format that offers the same rich visuals and accurate, proven presentation as the printed book.


    Aplia ITS Card 2-Semester Printed Access Card for Decision Science  (ISBN-10: 0324662971 | ISBN-13: 9780324662979)

    Aplia is dedicated to improving students' learning by increasing their effort and engagement. Aplia offers students premium, automatically graded assignments with detailed explanations that ensure they put forth effort on a regular basis. Currently, Aplia supports college-level courses and has been used by more than 1,000,000 students at over 1,300 institutions. Aplia's paramount goal is to give instructors and students a first-rate learning experience, and we always want to hear from our users. As you explore the features and benefits that Aplia has to offer, we hope to hear from you as well. Welcome to Aplia.


    Statistics for Business and Economics, International Edition  (ISBN-10: 0538471883 | ISBN-13: 9780538471886)

    With Anderson/Sweeney/Williams' market-leading STATISTICS FOR BUSINESS AND ECONOMICS, 11e, International Edition, you’ll learn much more than simply how to solve statistical equations. You'll discover how statistical results provide insights into business decisions and present solutions to business problems. Numerous actual examples, proven methods, and application exercises provide practical clarity to even complex concepts, while self-testing exercises allow you to assess your personal understanding. Maximize your study time and efficiently complete homework with this edition's innovative CengageNOW online learning system that creates a personalized study plan focusing on the statistical concepts you still need to master. A useful CD-ROM, provided at no extra cost with each new text, contains data files to help you master key statistical software for success in today’s classroom and tomorrow’s business world.


    Meet the Author

    About the Author

    David R. Anderson

    Dr. David R. Anderson is a textbook author and Professor Emeritus of Quantitative Analysis in the College of Business Administration at the University of Cincinnati. He has served as head of the Department of Quantitative Analysis and Operations Management and as Associate Dean of the College of Business Administration. He was also coordinator of the College's first Executive Program. In addition to introductory statistics for business students, Dr. Anderson has taught graduate-level courses in regression analysis, multivariate analysis, and management science. He also has taught statistical courses at the Department of Labor in Washington, D.C. Professor Anderson has received numerous honors for excellence in teaching and service to student organizations. He is the coauthor of ten textbooks related to decision sciences and actively consults with businesses in the areas of sampling and statistical methods. Born in Grand Forks, North Dakota, he earned his BS, MS, and PhD degrees from Purdue University.

    Dennis J. Sweeney

    Dr. Dennis J. Sweeney is a textbook author, Professor Emeritus of Quantitative Analysis and founder of the Center for Productivity Improvement at the University of Cincinnati. He also served five years as head of the Department of Quantitative Analysis and four years as Associate Dean of the College of Business Administration. In addition, he has worked in the management science group at Procter & Gamble and has been a visiting professor at Duke University. Professor Sweeney has published more than 30 articles in the area of management science and statistics. The National Science Foundation, IBM, Procter & Gamble, Federated Department Stores, Kroger, and Cincinnati Gas & Electric have funded his research, which has been published in MANAGEMENT SCIENCE, OPERATIONS RESEARCH, MATHEMATICAL PROGRAMMING, DECISION SCIENCES, and other journals. Dr. Sweeney is the coauthor of ten textbooks in the areas of statistics, management science, linear programming, and production and operations management. Born in Des Moines, Iowa, he earned a BS degree from Drake University, graduating summa cum laude. He received his MBA and DBA degrees from Indiana University, where he was an NDEA Fellow.

    Thomas A. Williams

    Dr. Thomas A. Williams is Professor of Management Science in the College of Business at Rochester Institute of Technology where he was the first chairman of the Decision Sciences Department. He teaches courses in management science and statistics, as well as graduate courses in regression and decision analysis. Before joining the College of Business at RIT, Professor Williams served for seven years as a faculty member in the College of Business Administration at the University of Cincinnati, where he developed the undergraduate program in Information Systems and then served as its coordinator. The co-author of 11 leading textbooks in the areas of management science, statistics, production and operations management, and mathematics, Professor Williams has been a consultant for numerous Fortune 500 companies and has worked on projects ranging from the use of data analysis to the development of large-scale regression models. He earned his B.S. degree at Clarkson University and completed his graduate work at Rensselaer Polytechnic Institute, where he received his M.S. and Ph.D. degrees.