book

Business Statistics

by Bajpai

April 2024

Intermediate to advanced

824 pages

36h 45m

English

Pearson India

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Introduction
Roadmap to Learning StatisticsStatistical Analysis Using MS Excel, SPSS, and Minitab®
Scales of Measurement
Ordinal ScaleInterval ScaleRatio ScaleFour Levels of Data Measurement
Descriptive Statistics and Inferential StatisticsParameter and Statistic
Introduction to SPSS
Key TermsDiscussion Questions
Frequency Distribution
Relative FrequencyCumulative Frequency
Bar ChartUsing MS Excel for Bar Chart ConstructionUsing Minitab for Bar Chart ConstructionUsing SPSS for Constructing a Bar Chart
Using MS Excel for Pie Chart ConstructionUsing Minitab for Pie Chart ConstructionUsing SPSS for Constructing a Pie Chart
Using MS Excel for Histogram ConstructionUsing Minitab for Histogram Construction
Using MS Excel for Constructing Frequency PolygonUsing Minitab for the Construction of Frequency PolygonUsing SPSS for Frequency Polygon Construction
Using MS Excel for Ogive ConstructionUsing Minitab for Ogive Construction
Pareto ChartUsing Minitab for the Construction of Pareto ChartsUsing SPSS for the Construction of Pareto Charts
Using Minitab for Stem-and-Leaf Plot ConstructionUsing SPSS for Stem-and-Leaf Plot Construction
Using MS Excel for Constructing Scatter PlotsUsing Minitab for Scatter Plot ConstructionUsing SPSS for Scatter Plot Construction
Key TermsDiscussion QuestionsNumerical Problems
Central TendencyMeasures of Central TendencyPrerequisites for an Ideal Measure of Central Tendency
Arithmetic MeanCalculation of Simple Arithmetic Mean
MeritsDemeritsWeighted Arithmetic MeanComputation of Weighted Mean
Geometric MeanComputation of Geometric Mean for Individual SeriesGeometric Mean for Discrete and Continuous Series
Average Rate of Growth
Merits
Harmonic MeanComputation of Harmonic Mean for Individual SeriesComputation of Harmonic Mean for Discrete Frequency Distribution and ContinuousFrequency Distribution
Weighted Harmonic MeanImportance of Harmonic Mean
Merits and Demerits of Harmonic MeanMerits
Positional AveragesMedianCalculation of MedianComputation of Median for the Individual SeriesComputation of Median for a Discrete Frequency DistributionDetermination of Median for a Continuous Frequency Distribution
Merits and Demerits of MedianMeritsDemerits
Computation of Mode for the Individual SeriesComputation of Mode for Discrete Frequency Distribution
Using MS Excel for Mode ComputationMerits and Demerits of Mode
DemeritsAn Empirical Relation between Mean, Median, and Mode
QuartilesFirst and Third Quartiles for Individual SeriesFirst and Third Quartiles for Discrete SeriesFirst and Third Quartiles for Continuous Series
Using Minitab for Quartiles ComputationUsing SPSS for Quartiles Computation
MeritsDemeritsDeciles
Discussion QuestionsNumerical Problems
Measures of Dispersion
Methods of Measuring DispersionRangeRange for Individual SeriesRange for Discrete Frequency DistributionRange for Continuous Frequency Distribution
Using Minitab for Range Computation
Merits and Demerits of RangeMeritsDemerits
Using MS Excel, Minitab, and SPSS for Interquartile RangeMerits and Demerits of Quartile Deviation
DemeritsMean Absolute Deviation (or Average Absolute Deviation)Mean Absolute Deviation for Individual SeriesMean Absolute Deviation for Discrete and Continuous Frequency Distributions
Merits and Demerits of Mean DeviationMeritsDemeritsStandard Deviation, Variance, and Coefficient of VariationStandard Deviation
Coefficient of VariationStandard Deviation and Variance for an Individual SeriesStandard Deviation and Variance for Discrete and Continuous FrequencyDistributions
Using Minitab for Computing Standard DeviationUsing SPSS for Computing Standard DeviationMathematical Properties of Standard Deviation
MeritsDemerits
Chebyshev’s TheoremMeasures of ShapeSkewnessCoefficient of Skewness
The Five-Number Summary
Using Minitab for Box-and-Whisker Plot ConstructionUsing SPSS for Box-and-Whisker Plot Construction
CorrelationKarl Pearson’s Coefficient of CorrelationUsing MS Excel for Computing Correlation CoefficientUsing Minitab for Computing Correlation CoefficientUsing SPSS for Computing Correlation Coefficient
Discussion QuestionsNumerical Problems
Concept of ProbabilityBasic ConceptsVenn Diagram, Unions, and Intersections
Event
Independent and Dependent EventsMutually Exclusive EventsCollective Exhaustive Events
Complementary EventsSample Space
Multi-Step Experiment
Counting Rules for Permutations
Classical Technique
Subjective Approach
Marginal Probability
Joint ProbabilityConditional ProbabilitySome Basic Probability RulesGeneral Rule of Addition
Independent Events
Key TermsDiscussion Questions
Formulas
Difference between Discrete and Continuous Random DistributionsDiscrete Probability Distribution
Mean or Expected Value
Variance of a Discrete DistributionBinomial Distribution
Mean and Variance of a Binomial Probability Distribution
Graphical Presentation of the Poisson Probability Distribution
Using MS Excel for Hyper geometric Distribution
Key Terms
Numerical Problems
Case Study
Uniform Probability Distribution
Normal Probability DistributionNormal CurveSome Important Characteristics of Normal Probability Distribution
Standard Normal Probability Distribution
Key Terms
Numerical ProblemsFormulas
SamplingWhy is Sampling Essential?
Simple Random Sampling
Using Minitab for Random Number Generation
Systematic (or Quasi-Random) Sampling
Quota SamplingConvenience SamplingJudgment SamplingSnowball Sampling
Sampling ErrorsNon-Sampling ErrorsFaulty Designing and Planning of SurveyResponse Errors
Errors in CoverageCompiling Error and Publication ErrorSampling Distribution
Sample Distribution of Sample Proportion
Key TermsDiscussion Questions
Case Studay
Types of Estimates
Using Minitab for Confidence Interval Construction
Using MS Excel and Minitab to construct z Confidence Intervals for the Mean
Using Minitab to Construct Confidence Interval Estimates for Population Proportion
Sample Size for Estimating Population Mean μ
Key TermsDiscussion Questions
Formulas
Introduction to Hypothesis Testing
Two-Tailed Test of Hypothesis
Using Minitab for Hypothesis testing with the z Statistic
Hypothesis Testing for a Single Population Mean Using Then t Statistic (Case of a Small Random Sample When n <30)
Key Terms
Numerical ProblemsFormulas
Hypothesis Testing for the Difference between Two Population Means Using the z Statistic
Using MS Excel for Hypothesis Testing About the Difference Between Two Populations Means Using the t StatisticUsing Minitab for Hypothesis Testing About the Difference Between Two Population Means Using the t Statistic
Using SPSS for Hypothesis Testing About the Difference Between Two Population Means Using the t StatisticStatistical Inference about the Difference between the Means of Two Related Populations (Matched Samples)Using MS Excel for Statistical Inference about the Difference Between the Means of Two Related Populations (Matched Samples)
Using Minitab for Statistical Inference about the Difference Between the Means of Two Related Populations (Matched Samples)Using SPSS for Statistical Inference about the Difference Between the Means of Two Related Populations (Matched Samples)Hypothesis Testing for the Difference in Two Population Proportions
Using Minitab for Hypothesis Testing About the Difference in Two Population ProportionsHypothesis Testing About Two Population Variances (F Distribution)F DistributionUsing MS Excel for Hypothesis Testing About Two Population Variances ( F Distribution)
Using Minitab for Hypothesis Testing About Two Population Variances ( F Distribution)
SummaryKey TermsDiscussion QuestionsNumerical ProblemsFormulasCase Study
Introduction to Experimental Designs
Completely Randomized Design (One-Way ANOVA)
The ANOVA Summary Table
Using Minitab for Hypothesis Testing with the F Statistic for the Difference in the Means of More Than Two Populations
Using Minitab for Hypothesis Testing with the F Statistic in a Randomized Block Design
Formulas for Calculating SST (Total Sum of Squares) and Mean Squares ina Factorial Design (Two-Way Analysis of Variance)
ANOVA Summary Table for Two-Way ANOVA
Using Minitab for Hypothesis Testing with the F Statistic in a Randomized Block Design
Key TermsDiscussion Questions
Defining χ2-Test Statistic
X2 Goodness-of-fit test
χ2 Test of Homogeneity
Key TermsDiscussion Questions
Case Staudy
Introduction to Simple Linear RegressionDetermining the Equation of a Regression Line
Linearity of the Regression Model
Using SPSS for Calculating Statistical Significant Correlation Coefficient for Example
Discussion QuestionsNumerical Problems
The Multiple Regression Model
Determination of Coefficient of Multiple Determination (R2)
Standard Error of the Estimate
Linearity of the Regression Model
Independence of ErrorNormality of Error
Testing the Statistical Significance of the Overall Regression Model
Indicator (Dummy Variable Model)
Using SPSS for Creating Dummy Variable Column (Assigning 0 and 1 to the Dummy Variable)
Using Minitab for InteractionUsing SPSS for Interaction
Using Minitab for Square Root TransformationUsing SPSS for Square Root Transformation
Using Minitab for Log Transformation
All Possible Regressions
Using SPSS for Stepwise RegressionForward Selection
Using SPSS for Forward Selection Regression
Using Minitab for Backward Elimination RegressionUsing SPSS for Backward Elimination Regression
Key TermsDiscussion Questions
Types of Forecasting MethodsQualitative Methods of Forecasting
Secular Trend
Cyclical VariationsRandom or Erratic or Irregular Variations
The Additive ModelThe Multiplicative Model
Freehand MethodSmoothing Techniques
Using Minitab for Exponential Smoothing
Linear Regression Trend Model
Quadratic Trend Model
Unweighted Aggregate Price Index Numbers
Laspeyres’s Price Index NumberPaasche’s Price Index NumberDorbish–Bowley Price Index NumberMarshall–Edgeworth Price Index NumberWalsch Price Index NumberIrving Fisher’s Ideal Index Number
Discussion QuestionsFormulas
What is Quality?
Statistical Quality Control TechniquesIn-Process Quality Control Techniques
x ChartSteps for Constructing an x Chart
Using SPSS for the Construction of x Control Charts
Steps for Constructing an R chart
p ChartSteps for Constructing a p Chart
Using SPSS for p Control Chart Construction
Steps for Constructing a c Chart
Using SPSS for the Construction of c Control Charts
Single-Sample PlanDouble-Sample Plan
Determining Error and OC Curves (1/2)Producer’s and Consumer’s RiskUsing SPSS for Constructing OC Curve
Discussion QuestionsNumerical Problems
Non-Parametric Statistics (1/2)Introduction (1/2)Runs Test for Randomness of Data (1/2)
Non-Parametric Statistics (2/2)Introduction (2/2)Runs Test for Randomness of Data (2/2)Small-Sample Runs Test (1/2)Using Minitab for Small-Sample Runs Test (1/2)Using SPSS for Small-Sample Runs Tests (1/2)Large-Sample Runs Test (1/2)
Small-Sample Runs Test (2/2)Using Minitab for Small-Sample Runs Test (2/2)Using SPSS for Small-Sample Runs Tests (2/2)Large-Sample Runs Test (2/2)Mann–Whitney U TestSmall-Sample U Test
Using Minitab for Ranking
Wilcoxon Test for Large Samples (n > 15)
Friedman Test
Spearman’s Rank Correlation
Key TermsDiscussion Questions
Elements of Decision Analysis
Laplace (Equally Likely Decision) CriterionMaximin or Minimax Criterion
Hurwicz Criterion
Expected Monetary Value
Discussion QuestionsNumerical problems
Case Study

Overview

Business Statistics offers readers a foundation in core statistical concepts using a perfect blend of theory and practical application. This book presents business statistics as value added tools in the process of converting data into useful information.

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Business Statistics, 3rd Edition

Naval Bajpai

Business Statistics, Second Edition

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Business Statistics For Dummies, 2nd Edition

Alan Anderson

Business Statistics: An Applied Orientation

P. K. Vishwanathan

Publisher Resources

ISBN: 9781282652507