Higher Education

Statistics for Management and Economics, 9th Edition

  • includes Online Content Printed Access Card
  • Gerald Keller Wilfrid Laurier University
  • ISBN-10: 0538477490  |  ISBN-13: 9780538477499
  • 1008 Pages
  • Previous Editions: 2009, 2005, 2003
  • © 2012 | Published
  • College Bookstore Wholesale Price = $235.50
  • Newer Edition Available
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This worldwide best-selling business statistics text emphasizes applications over calculation. STATISTICS FOR MANAGEMENT AND ECONOMICS, 9e, demonstrates how vital statistical methods are for today's managers and economists--and teaches students how to apply these tools to real business problems. Through the author's unique three-step "ICI" approach to problem solving, students learn to IDENTIFY the correct statistical technique by focusing on the problem objective and data type, then COMPUTE the statistics (doing them by hand, using Excel®, or using MINITAB), and ultimately INTERPRET results in the context of the problem. This approach enhances student comprehension and skills while offering you maximum flexibility. Incorporating various functional areas of business, data-driven examples, exercises, and cases demonstrate statistical applications used by marketing managers, financial analysts, accountants, economists, and others, giving students the hands-on practice they need, while sound pedagogical elements make the material accessible to undergrads. In addition, unique teaching and learning resources such as CourseMate save time while giving you more control and better student outcomes. The ninth edition also includes Excel® 2010 and MINITAB 15 content.

Additional Product Information

Features and Benefits

  • Emphasis on identification and interpretation provides students with practical skills they can apply to real problems they will face whether a course uses manual or computer calculations.
  • Students learn that statistics is a method of converting data into information. With a substantial number of data files and corresponding problems that ask students to interpret statistical results, students are provided ample opportunities to practice data analysis and decision making.
  • The optional use of the computer allows for larger and more realistic exercises and examples.
  • Using Excel 2010.

Table of Contents

1: What is Statistics?
1.1. Key Statistical Concepts.
1.2. Statistical Applications in Business.
1.3. Statistics and the Computer.
1.4. World Wide Web and Learning Center.
Appendix 1 Instructions for the CD-ROM.
2: Graphical Descriptive Techniques I.
2.1. Types of Data and Information.
2.2. Describing a Set of Nominal Data.
2.3. Describing the Relationship between Two Nominal Variables and Comparing Two or More
Nominal Data Sets.
3: Graphical Descriptive Techniques II.
3.1. Graphical Techniques to Describe a Set of Interval Data.
3.2. Describing Time-Series Data.
3.3. Describing the Relationship between Two Interval Variables.
3.4. Art and Science of Graphical Presentations.
4: Numerical Descriptive Techniques.
4.1. Measures of Central Location.
4.2. Measures of Variability.
4.3. Measures of Relative Standing and Box Plots.
4.4. Measures of Linear Relationship.
4.6. (Optional) APPLICATIONS IN FINANCE: Market Model.
4.7. Comparing Graphical and Numerical Techniques.
4.8. General Guidelines for Exploring Data.
Appendix 4 Review Of chapters 2 to 4.
5: Data Collection and Sampling.
5.1. Methods of Collecting Data.
5.2. Sampling
5.3. Sampling Plans.
5.4. Sampling and Nonsampling Errors.
6: Probability.
6.1. Assigning Probability to Events.
6.2. Joint, Marginal, and Conditional Probability.
6.3. Probability Rules and Trees.
6.4. Bayes’ Law.
6.5. Identifying the Correct Method.
7: Random Variables and Discrete Probability Distributions.
7.1. Random Variables and Probability Distributions.
7.2. Bivariate Distributions.
7.3. (Optional) APPLICATIONS IN FINANCE: Investment Portfolio Diversification
and Asset Allocation.
7.4. Binomial Distribution.
7.5. Poisson Distribution.
8: Continuous Probability Distributions.
8.1. Probability Density Functions.
8.2. Normal Distribution.
8.3. (Optional) Exponential Distribution.
8.4. Other Continuous Distributions.
9: Sampling Distributions.
9.1. Sampling Distribution of the Mean.
9.2. Sampling Distribution of a Proportion.
9.3. Sampling Distribution of the Difference between Two Means.
9.4. From Here to Inference.
10: Introduction to Estimation.
10.1. Concepts of Estimation.
10.2. Estimating the Population Mean when the Population Standard Deviation is
10.3. Selecting the Sample Size.
11: Introduction to Hypothesis Testing.
11.1. Concepts of Hypothesis Testing.
11.2. Testing the Population Mean when the Population Standard Deviation is
11.3. Calculating the Probability of a Type II Error.
11.4. The Road Ahead.
12: Inference about One Population.
12.1. Inference about a population Mean when the Standard Deviation is Unknown.
12.2. Inference about a Population Variance.
12.3. Inference about a Population Proportion.
12.4. (Optional) APPLICATIONS IN MARKETING: Market Segmentation.
13: Inference about Two Populations.
13.1. Inference about the Difference between Two Means: Independent samples.
13.2. Observational and Experimental Data.
13.3. Inference about the Difference between Two Means: Matched Pairs
13.4. Inference about the Ratio of Two Variances.
13.5. Inference about the Difference between Two Population Proportions.
Appendix 13 Review of Chapters 12 and 13.
14: Analysis of Variance.
14.1. One Way Analysis of Variance.
14.2. Multiple Comparisons.
14.3. Analysis of Variance Experimental Designs.
14.4. Randomized Blocks (Two Way) Analysis of Variance.
14.5. Two-Factor Analysis of Variance.
and Reducing Variation.
Appendix 14 Review of chapters 12 to 14.
15: Chi-Squared Tests.
15.1. Chi-Squared Goodness-of-Fit Test.
15.2. Chi-Squared Test of a Contingency Table.
15.3. Summary of Tests on Nominal Data.
15.4. (Optional) Chi-Squared Test for Normality.
Appendix 15 Review of Chapters 12 to 15.
16 Simple Linear Regression.
16.1. Model.
16.2. Estimating the Coefficients.
16.3. Error Variable: Required Conditions.
16.4. Assessing the Model.
16.5. Using the Regression Equation.
16.6. Regression Diagnostics − I.
Appendix 16 Review of Chapters 12 to 16.
17: Multiple Regression.
17.1. Model and Required Conditions.
17.2. Estimating the Coefficients and Assessing the Model.
17.3. Regression Diagnostics − II.
17.4. Regression Diagnostics- III (Time Series).
Appendix 17 Review of Chapters 12 to 17.
18: Model Building.
18.1. Polynomial Models.
18.2. Nominal Independent Variables.
Pay Equity.
18.4. Logistic Regression.
18.5. Stepwise Regression.
18.6. Model Building.
19: Nonparametric Statistical Techniques.
19.1. Wilcoxon Rank Sum Test.
19.2. Sign Test and Wilcoxon Signed Rank Sum Test.
19.3. Kruskal-Wallis Test.
19.4. Friedman Test.
19.5. Spearman Rank Correlation.
Appendix 19 Review of Chapters 12 to 19.
20. Time-Series Analysis and Forecasting.
20.1. Time Series Components.
20.2. Smoothing Techniques.
20.3. Trend and Seasonal Effects.
20.4. Introduction to Forecasting.
20.5. Forecasting Models.
21. Statistical Process Control.
21.1.Process Variation.
21.2. Control Charts.
21.3. Control Charts for Variables: and S Charts.
21.4. Control Charts for Attributes: p Chart.
22:Decision Analysis.
22.1.Decision Problem.
21.2 Acquiring, Using and Evaluating Additional Information.
23: Conclusion.
Appendix A Data File Sample Statistics.
Appendix B Tables.
1. Binomial Probabilities.
2. Poisson Probabilities.
3. Normal Probabilities.
4. Critical Values of t.
5. Critical Values of.
6. Critical Values of F.
7. Critical Values of the Studentized Range.
8. Critical Values for the Durbin-Watson Statistic.
9. Critical Values for the Wilcoxon Rank Sum Test.
10. Critical Values for the Wilcoxon Signed Rank Sum Test.
11. Critical Values for the Spearman Rank Correlation Coefficient.
12. Control Chart Constants.
Appendix C Answers to Selected Even-Numbered Exercises.

What's New

  • Six large real datasets are the sources of 150 new exercises. Students will have the opportunity to convert real data into information. Instructors can use the datasets for hundreds of additional examples and exercises.
  • Many of the examples, exercises, and cases using real data in the eighth edition have been updated. These include the data on wins, payrolls, and attendance in baseball, basketball, football, and hockey, returns on stocks listed on the New York Stock Exchange, NASDAQ, and Toronto Stock Exchange, and global warming.
  • Chapter 2 in the eighth edition, which presented graphical techniques has been split into Chapters 2 and 3 for the ninth edition. Chapter 2 describes graphical techniques for nominal data and Chapter 3 presents graphical techniques for interval data. Some of the material in the eighth edition Chapter 3 has been incorporated into the new Chapter 3.
  • To make room for the new additional exercises we have removed Section 12.5 Applications in Accounting: Auditing and Section 18.4 Logistic Regression. Instructors who wish to have these can download them on the CourseMate site.
  • The Excel workbooks that compute confidence interval estimators and hypothesis tests have been replaced with subsections that teach students to do it on their own. This section is called "Do-It-Yourself Excel."
  • There are many new examples and exercises.

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

Bundle: Text + Aplia Printed Access Card + Aplia Edition Sticker

ISBN-10: 1133163874  | ISBN-13: 9781133163879

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This Bundle Includes:

  • Statistics for Management and Economics
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ePack: Printed Text + Aplia™ 1-Semester Instant Access

ISBN-10:  1305595106 | ISBN-13:  9781305595101

List Price = $326.95  | CengageBrain Price = $326.95  | College Bookstore Wholesale Price = $245.50

This Bundle Includes:

  • Statistics for Management and Economics
    List Price = $313.95  | CengageBrain Price = $313.95  | College Bookstore Wholesale Price = $235.50
  • Aplia™, 1 term Instant Access
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All supplements have been updated in coordination with the main title. Select the main title's "About" 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.

Instructor Supplements

Business Statistics CourseMate with eBook Instant Access Code  (ISBN-10: 1111746583 | ISBN-13: 9781111746582)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

List Price = $250.00  | CengageBrain Price = $250.00  | College Bookstore Wholesale Price = $250.00

Instructor’s Resource CD-ROM  (ISBN-10: 1111531919 | ISBN-13: 9781111531911)

The Instructor’s Resource CD-ROM contains Microsoft® PowerPoint® slides with figures from the book, the Test Bank in Word, ExamView software, and the Solutions Manual. All resources have been updated for the new edition.

CengageNOW and Essential Textbook Resources Instant Access Code  (ISBN-10: 1111354626 | ISBN-13: 9781111354626)

List Price = $140.00  | CengageBrain Price = $140.00  | College Bookstore Wholesale Price = $140.00

Student Supplements

Business Statistics CourseMate with eBook Instant Access Code  (ISBN-10: 1111746583 | ISBN-13: 9781111746582)

Cengage Learning's Business Statistics CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Access an integrated eBook, learning tools including flashcards, quizzes, and more, all designed specifically to work with STATISTICS FOR MANAGEMENT AND ECONOMICS, 9th Edition.

List Price = $250.00  | CengageBrain Price = $250.00  | College Bookstore Wholesale Price = $250.00

Student Solutions Manual  (ISBN-10: 1111531889 | ISBN-13: 9781111531881)

This manual contains worked-out solutions to selected problems in the text, showing students step-by-step how to complete exercises.

List Price = $59.95  | CengageBrain Price = $59.95  | College Bookstore Wholesale Price = $45.00

CengageNOW and Essential Textbook Resources Instant Access Code  (ISBN-10: 1111354626 | ISBN-13: 9781111354626)

Succeed in your 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.

List Price = $140.00  | CengageBrain Price = $140.00  | College Bookstore Wholesale Price = $140.00

Online Content Instant Access Code  (ISBN-10: 1111748411 | ISBN-13: 9781111748418)

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Meet the Author

Author Bio

Gerald Keller

Dr. Gerald Keller is Emeritus Professor of Business at Wilfrid Laurier University, where he taught statistics, management science, and operations management from 1974 to 2011. He also taught at the University of Toronto, the University of Miami, McMaster University, the University of Windsor, and the Beijing Institute of Science and Technology. In addition to consulting with banks on credit scoring and credit card fraud, Dr. Keller has conducted market surveys for the Canadian government on energy conservation. His books include BSTAT, 2e, APPLIED STATISTICS WITH MICROSOFT EXCEL, ESSENTIALS OF BUSINESS STATISTICS (co-authored), AUSTRALIAN BUSINESS STATISTICS (co-authored), and STATISTICS LABORATORY MANUAL EXPERIMENTS USING MINITAB. Dr. Keller also has been published in OMEGA, IIE TRANSACTIONS, DECISION SCIENCES, INFOR, ECONOMICS LETTERS, and ARCHIVES OF SURGERY.