Essentials of Statistics for Business and Economics, 6th Edition

  • includes Online Content Printed Access Card
  • David R. Anderson University of Cincinnati
  • Dennis J. Sweeney University of Cincinnati
  • Thomas A. Williams Rochester Institute of Technology
  • ISBN-10: 0538754575  |  ISBN-13: 9780538754576
  • 720 Pages
  • Previous Editions: 2009, 2006, 2003
  • © 2011 | Published
  • Newer Edition Available
  • Instructor Companion Site
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    About

    Overview

    Trust the latest version of this market-leading essentials text to introduce sound statistical methodology in a proven applications setting. ESSENTIALS OF STATISTICS FOR BUSINESS AND ECONOMICS includes all of the strengths of the best-selling parent text, with a streamlined focus on the core topics and a concise presentation that is easy for students to follow. This reader-friendly introduction to business statistics offers a wealth of real-world examples, proven methods, and application exercises that clearly demonstrate how statistics can inform decisions and suggest solutions to contemporary business problems. The authors' signature problem-scenario approach and numerous exercises in every chapter show students how to apply statistical methods in practical business situations. In addition, the Sixth Edition includes new case problems, methods, applications, and self-test exercises to help students' master key formulas and apply their knowledge. 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. Optional updated chapter appendices highlight Excel® 2007 and Minitab® 15 popular commercial software, giving you the choice of integrating or omitting computer coverage in your course. This edition's concise approach and comprehensive support package, now including CengageNOW course management system, provides everything you need for an effective statistics course that prepares students for the essentials of statistics success in business today.


    Additional Product Information

    Features/Benefits

    • Optional updated chapter appendices highlight Excel® 2007 and Minitab® 15 popular commercial software, giving you the choice of integrating or omitting computer coverage in your course. This edition's concise approach and comprehensive support package, now including CengageNOW course management system, provides everything you need for an effective statistics course that prepares students for the essentials of statistics success in business today.
    • A unique problem-scenario approach helps students understand statistical concepts through discussion and development of each technique in an application setting, and then apply the techniques within exercises designed to generate a solution or recommendation and illustrate the value of statistics in making decisions and solving problems in real business environments.
    • Methods, Application, and Self-Test Exercises allow students to use formulas, make computations, apply chapter material to address real-world problems, and evaluate their understanding of key concepts by checking solutions to selected exercises in a special appendix.
    • Exceptional exercises and examples throughout the text include abundant, real-world data from sources such as The Wall Street Journal, USA Today, and Barron's to help student's master statistical methodology and apply real data to solve common business problems, while extensive margin notes and comments highlight key points for simple, time-effective student review.
    • A Cumulative Standard Normal Distribution Table makes it easy to prepare your students to use computer software in statistics by introducing normal distribution probabilities and helping first-time users to calculate normal probability and p-values for hypothesis testing.
    • Optional support materials include the innovative, integrated CengageNOW online course management system (which combines the best technology to help you plan your course, manage and automatically grade assignments, prepare and teach lessons, create tests, and provide personalized study plans for each student) and a Solutions Manual written by the text's authors to provide step-by-step solutions for exercises, including detailed explanations of the role of cumulative normal distribution and p-values.

    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. Comparisons Involving Means, Experimental Design, and Analysis of Variance.
    11. Comparisons Involving Proportions and a Test of Independence.
    12. Simple Linear Regression.
    13. Multiple Regression.
    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

    • New online primers provide an introduction to Microsoft® Excel® 2007 and Excel 2010 and its tools for statistical analysis, including the Excel Ribbon, basic workbook operations, Excel functions for statistical analysis, and installing Excel's data analysis add-in and the vendor-supplied add-in.
    • Appendix 1 includes instructions for accessing the Premium Online Content Web site to download StatTools®, an optional commercial Excel add-in that students are likely to encounter in the workplace and that extends the range of statistical options for Excel users; most chapters include an appendix outlining statistical procedures using StatTools.
    • New sections in Chapter 1 provide a brief overview of the relatively new field of data mining (including the concept of a data warehouse and how statistics and computer science converge to make data mining operational and valuable) and a discussion of ethical issues involved in presenting and interpreting statistical information.
    • Chapter 2 includes additional material on box plots to support quick and easy comparisons of two or more data sets (with examples based on typical starting salaries for graduates majoring in various business fields), as well as an Excel Appendix 2.2 showing how the Chart Tools, PivotTable Report, and PivotChart Report functions can enhance the capabilities for displaying tabular and graphical descriptive statistics.
    • New and updated material in several chapters clarifies and expands upon key concepts, including sampled populations (finite and infinite) and frames, matching sampled and target populations, and developing null and alternative hypotheses in light of the situational context and the sample's purpose (including supporting research findings and challenging assumptions).
    • The Sixth Edition features several new case problems and chapter-opening Statistics in Practice applications covering topics such as descriptive statistics, hypothesis testing, and regression (with larger data sets to inform managerial reports), as well as real-life examples drawn from global firms in a variety of industries.
    • To better demonstrate the many uses of statistics in business and economics, nearly half (140) of the text's 300 examples and exercises are new to the current edition and incorporate the most current data, recent studies, and reliable sources of statistical information, including the Wall Street Journal, USA Today, Barron's, and others.

    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 + CengageNOW Printed Access Card
    ISBN-10: 111197702X  | ISBN-13: 9781111977023


    Bundle: Text + Aplia 1-Semester Printed Access Card
    ISBN-10:  1133423280  | ISBN-13:  9781133423287


    ePack: Printed Text + Aplia™ 1-Semester Instant Access
    ISBN-10:  1305605470  | ISBN-13:  9781305605473


    ePack: Printed Text + CengageNOW Instant Access
    ISBN-10:  1305604539 | ISBN-13:  9781305604537


    Efficacy and Outcomes

    Reviews

    "Excellent problem sets and answers in back of book - vivid color (maintains student interest better) - thorough discussion and examples."- Gary Black, University of Southern Indiana
    — Gary Black
    "1. Statistics presented in plain language, easily followed. 2. Good examples that closely follow the text discussion. 3. Well constructed homework questions that coincide with the text. 4. Tables that are easy to read." - Joseph Williams, Hawamba Community College
    — Joseph Williams

    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.

    Aplia, 1 term (6 months) Instant Access  (ISBN-10: 084005047X | ISBN-13: 9780840050472)

    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 has been updated to reflect all changes in the text.


    CengageNOW Instant Access Code  (ISBN-10: 1111475253 | ISBN-13: 9781111475253)

    Bring a new level of ease in preparation and student understanding to your course with CengageNOW. This innovative, integrated online course management and student learning system combines the best of current technology to save you time in planning your course and student assignments, help you teach with the latest built-in course support materials, reinforce comprehension with customized student learning paths, efficiently test student knowledge, and automatically grade assignments and tests. Take full advantage of this time-saving, effective resource with Cengage Learning's specialized training and service program for CengageNOW. For more information, visit academic.cengage.com/cengagenow.


    Instructor's Resource CD-ROM  (ISBN-10: 1111526559 | ISBN-13: 9781111526559)

    Place all of the key resources you need at your fingertips with this all-in-one source for planning, teaching, grading, and assessing student understanding and progress. This CD-ROM includes the author-written Solutions Manual; Solutions to Case Problems; Microsoft® PowerPoint® Lecture Slides with graphics for stimulating lectures that clarify difficult concepts, provide guides for student note-taking and study, and include step-by-step graphics that correspond with the text help ensure student attention and understanding. In addition, an accurate test bank and ExamView® computerized testing software allow you to create, edit, store, and print exams. ExamView is an easy-to-use test-creation program for Microsoft Windows® or Macintosh®. It contains all of the questions from the printed test bank, making it easy for to customize tests to the specific needs of your class, edit or create questions, store customized exams, and create online tests. All of the supplements on the Instructor's Resource CD-ROM have been updated to reflect changes/additions to the text and are also available online, with the exception of ExamView.


    Solutions Manual  (ISBN-10: 1111526575 | ISBN-13: 9781111526573)

    Prepared by the text's author team to ensure unwavering excellence, this Solutions Manual includes solutions for all problems in the text. For your convenience, this edition shows the exercise solution steps using the cumulative normal distribution and offers more details in the explanations about how to compute p-values. The Solutions Manual has been updated to correspond to changes in the text.


    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.


    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.

    Essentials of Statistics for Business and Economics (Book Only)  (ISBN-10: 0538754583 | ISBN-13: 9780538754583)


    Aplia, 1 term (6 months) Instant Access  (ISBN-10: 084005047X | ISBN-13: 9780840050472)

    Aplia allows students with an easy way to stay on top of coursework with regularly scheduled assignments. Aplia has been used by more than 1,000,000 students at over 1,300 institutions.Aplia has been updated to reflect all changes in the text.


    CengageNOW with Instant Access  (ISBN-10: 1133581110 | ISBN-13: 9781133581116)

    Succeed in your business statistics course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade


    CengageNOW Instant Access Code  (ISBN-10: 1111475253 | ISBN-13: 9781111475253)

    CNOW is an easy-to-use online student learning system that combines the best of current technology that helps you study in less time and get the grade you want.


    Essential Textbook Resources, 2 terms (12 months) Instant Access  (ISBN-10: 1133581706 | ISBN-13: 9781133581703)


    Online Content, 1 term (6 months) Instant Access  (ISBN-10: 111174839X | ISBN-13: 9781111748395)


    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.


    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.