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## Book Description

The second edition of Business Statistics, continues to retain the clear, crisp pedagogy of the first edition. It now adds new features and an even stronger emphasis on practical, applied statistics that will enhance the text's ability in developing decision-making ability of the reader. In this edition, efforts have been made to assist readers in converting data into useful information that can be used by decision-makers in making more thoughtful, information-based decisions.

1. Cover
2. Title Page
3. Contents
4. Preface to the Second Edition
5. Preface
6. Chapter 1 - Statistics: an Overview
1. 1.1 - REASONS FOR LEARNING STATISTICS
2. 1.2 - GROWTH AND DEVELOPMENT OF STATISTICS
3. 1.3 - STATISTICAL THINKING AND ANALYSIS
4. 1.4 - STATISTICS DEFINED
5. 1.5 - TYPES OF STATISTICAL METHODS
6. 1.6 - IMPORTANCE AND SCOPE OF STATISTICS
7. 1.7 - LIMITATIONS OF STATISTICS
8. 1.8 - HOW TO LIE WITH STATISTICS
9. Conceptual Questions 1A
10. 1.9 - NEED FOR DATA
11. 1.10 - PRINCIPLES OF MEASUREMENT
12. 1.11 - SOURCES OF DATA
13. Conceptual Questions 1B
14. Chapter Concepts Quiz
7. Chapter 2 - Data Classification, Tabulation and Presentation
1. 2.1 - INTRODUCTION
2. 2.2 - CLASSIFICATION OF DATA
3. 2.3 - ORGANIZING DATA USING DATA ARRAY
4. Conceptual Questions 2A
5. Self-Practice Problems 2A
7. 2.4 - TABULATION OF DATA
8. Conceptual Questions 2B
9. Self-Practice Problems 2B
11. 2.5 - GRAPHICAL PRESENTATION OF DATA
12. 2.6 - TYPES OF DIAGRAMS
13. 2.7 - EXPLORATORY DATA ANALYSIS
14. Conceptual Questions 2C
15. Self-Practice Problems 2C
17. Formulae Used
18. Chapter Concepts Quiz
19. Review Self-Practice Problems
20. Case Studies
8. Chapter 3 - Measures of Central Tendency
1. 3.1 - INTRODUCTION
2. 3.2 - OBJECTIVES OF AVERAGING
3. 3.3 - REQUISITES OF A MEASURE OF CENTRAL TENDENCY
4. 3.4 - MEASURES OF CENTRAL TENDENCY
5. 3.5 - MATHEMATICAL AVERAGES
6. Conceptual Questions 3A
7. Self-Practice Problems 3A
9. 3.6 - GEOMETRIC MEAN
10. Conceptual Questions 3B
11. Self-Practice Problems 3B
13. 3.7 - HARMONIC MEAN
14. 3.8 - RELATIONSHIP BETWEEN A.M., G.M. AND H.M.
15. Self-Practice Problems 3C
17. 3.9 - AVERAGES OF POSITION
18. 3.10 - PARTITION VALUES—QUARTILES, DECILES AND PERCENTILES
19. Conceptual Questions 3C
20. Self-Practice Problems 3D
22. 3.11 - MODE
23. 3.12 - RELATIONSHIP BETWEEN MEAN, MEDIAN AND MODE
24. 3.13 - COMPARISON BETWEEN MEASURES OF CENTRAL TENDENCY
25. Conceptual Questions 3D
26. Self-Practice Problems 3E
28. Formulae Used
29. Chapter Concepts Quiz
30. Review Self-Practice Problems
32. Case Studies
9. Chapter 4 - Measures of Dispersion
1. 4.1 - INTRODUCTION
2. 4.2 - SIGNIFICANCE OF MEASURING DISPERSION (VARIATION)
3. 4.3 - CLASSIFICATION OF MEASURES OF DISPERSION
4. 4.4 - DISTANCE MEASURES
5. Conceptual Questions 4A
6. Self-Practice Problems 4A
8. 4.5 - AVERAGE DEVIATION MEASURES
9. Conceptual Questions 4B
10. Self-Practice Problems 4B
12. Formulae Used
13. Chapter Concepts Quiz
14. Review Self-Practice Problems
16. Case Studies
10. Chapter 5 - Skewness, Moments and Kurtosis
1. 5.1 - INTRODUCTION
2. 5.2 - MEASURES OF SKEWNESS
3. Conceptual Questions 5A
4. Self-Practice Problems 5A
6. 5.3 - MOMENTS
7. 5.4 - KURTOSIS
8. Conceptual Questions 5B
9. Self Practice Problems 5B
11. Formulae Used
12. Review Self-Practice Problems
11. Chapter 6 - Fundamentals of Probability
1. 6.1 - INTRODUCTION
2. 6.2 - CONCEPTS OF PROBABILITY
3. 6.3 - DEFINITION OF PROBABILITY
4. 6.4 - COUNTING RULES FOR DETERMINING THE NUMBER OF OUTCOMES
5. Conceptual Questions 6A
6. Self-Practice Problems 6A
8. 6.5 - RULES OF PROBABILITY AND ALGEBRA OF EVENTS
9. 6.6 - PROBABILITY TREE DIAGRAM
10. Self-Practice Problems 6B
12. 6.7 - THE BAYES' THEOREM
13. Self-Practice Problems 6C
15. Formulae Used
16. Chapter Concepts Quiz
17. Review Self-Practice Problems
19. Case Studies
12. Chapter 7 - Probability Distributions
1. 7.1 - INTRODUCTION
2. 7.2 - PROBABILITY DISTRIBUTION FUNCTION (PDF)
3. 7.3 - CUMULATIVE PROBABILITY DISTRIBUTION FUNCTION (CDF)
4. 7.4 - EXPECTED VALUE AND VARIANCE OF A RANDOM VARIABLE
5. Conceptual Questions 7A
6. Self-Practice Problems 7A
8. 7.5 - DISCRETE PROBABILITY DISTRIBUTIONS
9. Conceptual Questions 7B
10. Self-Practice Problems 7B
12. Conceptual Questions 7C
13. Self-Practice Problems 7C
15. 7.6 - CONTINUOUS PROBABILITY DISTRIBUTIONS
16. Conceptual Questions 7D
17. Self-Practice Problems 7D
19. Formulae Used
20. Chapter Concepts Quiz
21. Review Self-Practice Problems
13. Chapter 8 - Sampling and Sampling Distributions
1. 8.1 - INTRODUCTION
2. 8.2 - REASONS OF SAMPLE SURVEY
3. 8.3 - TYPES OF BIAS DURING SAMPLE SURVEY
4. 8.4 - POPULATION PARAMETERS AND SAMPLE STATISTICS
5. 8.5 - PRINCIPLES OF SAMPLING
6. 8.6 - SAMPLING METHODS
7. 8.7 - SAMPLING DISTRIBUTIONS
8. Conceptual Questions 8A
9. 8.8 - SAMPLING DISTRIBUTION OF SAMPLE MEAN
10. Self-Practice Problems 8A
12. 8.9 - SAMPLING DISTRIBUTION OF SAMPLE PROPORTIONS
13. Self-Practice Problems 8B
15. Formulae Used
16. Chapter Concepts Quiz
17. Review Self-Practice Problems
14. Chapter 9 - Estimation and Confidence Intervals
1. 9.1 - INTRODUCTION
2. 9.2 - POINT ESTIMATION
3. 9.3 - CONFIDENCE INTERVAL ESTIMATION
4. 9.4 - INTERVAL ESTIMATION OF POPULATION MEAN (σ KNOWN)
5. 9.4.1 - Interval Estimation for Difference of Two Means
6. 9.5 - INTERVAL ESTIMATION OF POPULATION MEAN (σ UNKNOWN)
7. Self-Practice Problems 9A
9. 9.6 - INTERVAL ESTIMATION FOR POPULATION PROPORTION
10. Self-Practice Problems 9B
12. 9.7 - ESTIMATING SAMPLE SIZE
13. Conceptual Questions 9A
14. Self-Practice Problems 9C
16. Formulae Used
17. Chapter Concepts Quiz
18. Review Self-Practice Problems
15. Chapter 10 - Hypothesis Testing
1. 10.1 - INTRODUCTION
2. 10.2 - HYPOTHESIS AND HYPOTHESIS TASTING
3. 10.3 - THE RATIONALE FOR HYPOTHESIS TESTING
4. 10.4 - GENERAL PROCEDURE FOR HYPOTHESIS TESTING
5. 10.5 - DIRECTION OF THE HYPOTHESIS TEST
6. 10.6 - ERRORS IN HYPOTHESIS TESTING
7. Conceptual Questions 10A
8. 10.7 - HYPOTHESIS TESTING FOR POPULATION PARAMETERS WITH LARGE SAMPLES
9. Self-Practice Problems 10A
11. 10.8 - HYPOTHESIS TESTING FOR SINGLE POPULATION PROPORTION
12. 10.9 - HYPOTHESIS TESTING FOR A BINOMIAL PROPORTION
13. Self-Practice Problems 10B
15. 10.10 - HYPOTHESIS TESTING FOR POPULATION MEAN WITH SMALL SAMPLES
16. Self-Practice Problems 10C
18. 10.11 - HYPOTHESIS TESTING BASED ON F-DISTRIBUTION
19. Self-Practice Problems 10D
21. Formulae Used
22. Chapter Concepts Quiz
23. Review Self-Practice Problems
16. Chapter 11 - Chi-Square and Other Non-Parametric Tests
1. 11.1 - INTRODUCTION
2. 11.2 - ADVANTAGES AND LIMITATIONS OF NON-PARAMETRIC METHODS
3. 11.3 - THE CHI-SQUARE DISTRIBUTION
4. 11.4 - THE CHI-SQUARE TEST-STATISTIC
5. 11.5 - APPLICATIONS OF χ2 TEST
6. Self-Practice Problems 11A
8. Self-Practice Problems 11B
10. Conceptual Questions 11A
11. 11.6 - THE SIGN TEST FOR PAIRED DATA
12. 11.7 - RUNS TEST FOR RANDOMNESS
13. 11.8 - MANN-WHITNEY U-TEST
14. 11.9 - WILCOXON MATCHED PAIRS TEST
15. 11.10 - KRUSKAL-WALLIS TEST
16. Self-Practice Problems 11C
18. Formulae Used
19. Chapter Concepts Quiz
20. Review Self-Practice Problems 11C
17. Chapter 12 - Analysis of Variance
18. Chapter 13 - Correlation Analysis
1. 13.1 - INTRODUCTION
2. 13.2 - SIGNIFICANCE OF MEASURING CORRELATION
3. 13.3 - CORRELATION AND CAUSATION
4. 13.4 - TYPES OF CORRELATIONS
5. 13.5 - METHODS OF CORRELATION ANALYSIS
6. Self-Practice Problems 13A
8. Self-Practice Problems 13B
10. 13.6 - HYPOTHESIS TESTING FOR CORRELATION COEFFICIENT
11. Conceptual Questions 13A
12. Self-Practice Problems 13C
14. Formulae Used
15. Chapter Concepts Quiz
16. Review Self-Practice Problems
19. Chapter 14 - Regression Analysis
1. 14.1 - INTRODUCTION
2. 14.2 - ADVANTAGES OF REGRESSION ANALYSIS
3. 14.3 - TYPES OF REGRESSION MODELS
4. 14.4 - ESTIMATION: THE METHOD OF LEAST SQUARES
5. 14.5 - ASSUMPTIONS FOR A SIMPLE LINEAR REGRESSION MODEL
6. 14.6 - PARAMETERS OF SIMPLE LINEAR REGRESSION MODEL
7. 14.7 - METHODS TO DETERMINE REGRESSION COEFFICIENTS,
8. Self-Practice Problems 14A
10. 14.8 - STANDARD ERROR OF ESTIMATE AND PREDICTION INTERVALS
11. Conceptual Questions 14A
12. Formulae Used
13. Chapter Concepts Quiz
14. Review Self-Practice Problems
16. Case Studies
20. Chapter 15 - Partial and Multiple Correlation and Regression Analysis
1. 15.1 - INTRODUCTION
2. 15.2 - ASSUMPTIONS IN MULTIPLE LINEAR REGRESSION
3. 15.3 - ESTIMATING PARAMETERS OF MULTIPLE REGRESSION MODEL
4. Self-Practice Problems 15A
6. 15.4 - STANDARD ERROR OF ESTIMATE FOR MULTIPLE REGRESSION
7. 15.5 - COEFFICIENT OF MULTIPLE DETERMINATION
8. 15.6 - MULTIPLE CORRELATION ANALYSIS
9. 15.7 - PARTIAL CORRELATION ANALYSIS
10. Conceptual Questions 15A
11. Self-Practice Problems 15B
13. Formulae Used
14. Chapter Concepts Quiz
15. Review Self-Practice Problems
21. Chapter 16 - Forecasting and Time Series Analysis
1. 16.1 - INTRODUCTION
2. 16.2 - TYPES OF FORECASTS
3. 16.3 - TIMING OF FORECASTS
4. 16.4 - FORECASTING METHODS
5. 16.5 - STEPS OF FORECASTING
6. 16.6 - TIME SERIES ANALYSIS
7. 16.7 - TIME SERIES DECOMPOSITION MODELS
8. Conceptual Questions 16A
9. 16.8 - QUANTITATIVE FORECASTING METHODS
10. Self-Practice Problems 16A
12. 16.9 - TREND PROJECTION METHODS
13. Self-Practice Problems 16B
15. 16.10 - MEASUREMENT OF SEASONAL EFFECTS
16. 16.11 - MEASUREMENT OF CYCLICAL VARIATIONS—RESIDUAL METHOD
17. 16.12 - MEASUREMENT OF IRREGULAR VARIATIONS
18. Conceptual Questions 16B
19. Self-Practice Problems 16C
21. Formulae Used
22. Chapter Concepts Quiz
23. Review Self-Practice Problems
22. Chapter 17 - Index Numbers
1. 17.1 - INTRODUCTION
2. 17.2 - INDEX NUMBER DEFINED
3. 17.3 - TYPES OF INDEX NUMBERS
4. 17.4 - CHARACTERISTICS AND USES OF INDEX NUMBERS
5. Conceptual Questions 17A
6. 17.5 - METHODS FOR CONSTRUCTION OF PRICE INDEXES
7. 17.6 - UNWEIGHTED PRICE INDEXES
8. Self-Practice Problems 17A
10. 17.7 - WEIGHTED PRICE INDEXES
11. 17.8 - QUANTITY OR VOLUME INDEXES
12. 17.9 - VALUE INDEX
13. Self-Practice Problems 17B
15. 17.10 - TESTS OF ADEQUACY OF INDEXES
16. 17.11 - CHAIN INDEXES
17. 17.12 - APPLICATIONS OF INDEX NUMBERS
18. Self-Practice Problems 17C
20. 17.13 - CONSUMER PRICE INDEXES
21. 17.14 - PROBLEMS OF INDEX NUMBERS CONSTRUCTION
22. Conceptual Questions 17B
23. Formulae Used
24. Chapter Concepts Quiz
25. Review Self-Practice Problems
23. Chapter 18 - Statistical Quality Control
1. 18.1 - INTRODUCTION
2. 18.2 - QUALITY AND QUALITY CONTROL
3. 18.3 - COST OF QUALITY CONTROL
4. 18.4 - STATISTICAL QUALITY CONTROL
5. 18.5 - TECHNIQUES OF STATISTICAL QUALITY CONTROL
6. 18.6 - IN-PROCESS QUALITY CONTROL TECHNIQUES
7. 18.7 - CONTROL CHARTS FOR VARIABLES
8. Conceptual Questions 18A
9. Self-Practice Problems 18A
11. 18.8 - CONTROL CHARTS FOR ATTRIBUTES
12. Self-Practice Problems 18B
14. 18.9 - SAMPLING PLAN FOR ATTRIBUTES AND VARIABLES
15. 18.10 - SPECIFYING AN ACCEPTANCE SAMPLING PLAN
16. 18.11 - DETERMINING ERROR AND OC CURVE
17. 18.12 - ADVANTAGES AND LIMITATIONS OF STATISTICAL QUALITY CONTROL
18. Conceptual Questions 18B
19. Formulae Used
20. Chapter Concepts Quiz
21. Review Self-Practice Problems
23. Case Studies
24. Chapter 19 - Statistical Decision Theory
1. 19.1 - INTRODUCTION
2. 19.2 - STEPS IN DECISION THEORY APPROACH
3. 19.3 - TYPES OF DECISION-MAKING ENVIRONMENTS
4. 19.4 - DECISION-MAKING UNDER UNCERTAINTY
5. Self-Practice Problems 19A
7. 19.5 - DECISION-MAKING UNDER RISK
8. 19.6 - POSTERIOR PROBABILITIES AND BAYESIAN ANALYSIS
9. Self-Practice Problems 19B,