The Practice of Statistics for Business and Economics

Fifth Edition

Publication Date: February 14, 2020

Hardcover ISBN: 9781319324810

Pages: 880

Encourages real engagement with and analysis of data.

With The Practice of Statistics for Business and Economics, instructors can help students develop a working knowledge of data production and interpretation in a business and economics context, giving them the practical tools they need to make data-informed, real-world business decisions

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ISBN: 9781319324810
The Practice of Statistics for Business and Economics

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CHAPTER 1 Examining Distributions

CHAPTER 2 Examining Relationships

CHAPTER 3 Producing Data

CHAPTER 4 Probability: The Study of Randomness

CHAPTER 5 Random Variables and Probability Distributions

CHAPTER 6 Sampling Distributions

CHAPTER 7 Introduction to Inference

CHAPTER 8 Inference for Means

CHAPTER 9 One-Way Analysis of Variance

CHAPTER 10 Inference for Proportions

CHAPTER 11 Inference for Categorical Data

CHAPTER 12 Inference for Regression

CHAPTER 13 Multiple Regression

CHAPTER 14 Time Series Forecasting

The Core book includes Chapters 1 – 14 . Chapters 15 – 18 are
individual optional Companion Chapters and can be found on the
Student Site, listed on the main catalog page.

CHAPTER 15 Statistics for Quality: Control and Capability

CHAPTER 16 Two-Way Analysis of Variance

CHAPTER 17 Nonparametric Tests

CHAPTER 18 Logistic Regression

Examines the nature of modern statistical practice at a level suitable for beginners. Focus not only on the analysis of data and the traditional topics of probability and inference but also on the sources and production of data.
Uses real examples and exercises for business and economics to illustrate and enforce key ideas.
Students learn the technique of leastsquares regression and how to interpret the regression slope. But they also learn the conceptual ties between regression and correlation, the importance of looking for influential observations.
Developed with an awareness of current developments both in statistical science and in teaching statistics. Brief optional ‘Beyond the Basics’ sections give quick overviews of topics such as density estimation, the bootstrap, big data, relative risk, regression trees, and meta-analysis.

Achieve is Macmillan Learning’s complete online learning system. It houses instructor resources to support teaching and a range of interactive resources and the full eBook to help students succeed in their course. Access to Achieve for instructors is available on this page. Student access to Achieve could be through their institution if the institution has signed a license or as a separate student purchase. The instructor must set up a course for students to benefit from this product.

‘Learning Objectives’ start the beginning of each section in every chapter, and are designed to give an overview of what the students are expected to be able to do when they complete their study of the section.Students are not only expected to learn basic concepts; they are expected to acquire the skills needed to apply these concepts in realistic situations.
An increased emphasis on software has been provided with updates to software displays. Carefully selected instances of output can be switched to match whatever software the student is using when working in our Achieve eBook. In addition, video links are supplied at various places in each chapter so students can see how specific analyses are performed using Excel, JMP, Minitab, and R.
Over 60% of the exercises and examples are new or have been revised. The business or economics relevance of the exercises are clearer than ever for students.

Layth C. Alwan

Layth C. Alwan is a Professor of Business Statistics and Operations Management, Sheldon B. Lubar School of Business, University of Wisconsin–Milwaukee. He received a B.A. in mathematics, B.S. in statistics, M.B.A., and PhD in business statistics/operations management, all from the University of Chicago, and an M.S. in computer science from DePaul University. Professor Alwan is an author of many research articles related to statistical process control and business forecasting. He has consulted for many leading companies on statistical issues related to quality, forecasting, and operations/supply chain management applications. On the teaching front, he is focused on engaging and motivating business students on how statistical thinking and data analysis methods have practical importance in business. He is the recipient of several teaching awards, including Business School Teacher of the Year and Executive M.B.A. Outstanding Teacher of the Year.

Bruce A. Craig

Bruce A. Craig is Professor of Statistics and Director of the Statistical Consulting Service at Purdue University. He received his B.S. in mathematics and economics from Washington University in St. Louis and his PhD in statistics from the University of Wisconsin–Madison. He is an active member of the American Statistical Association and was chair of its section on Statistical Consulting in 2009. He also is an active member of the Eastern North American Region of the International Biometrics Society and aws elected by the voting membership to the Regional Committee from 2003 to 2006. Professor Craig has served on the editorial board of several statistical journals and has been a member of several data and safety monitoring boards, including Purdues IRB. Professor Craigs research interests focus on the development of novel statistical methodology to address research questions in the life sciences. Areas of current interest are protein structure determination, diagnostic testing, and animal abundance estimation. In 2005, he was named Purdue University Faculty Scholar.

George P. McCabe

George P. McCabe is the Associate Dean for Academic Affairs in the College of Science and a Professor of Statistics at Purdue University. In 1966, he received a B.S. degree in mathematics from Providence College, and in 1970 a Ph.D. in mathematical statistics from Columbia University.  His entire professional career has been spent at Purdue with sabbaticals at Princeton, the Commonwealth Scientific and Industrial Research Organization in Melbourne (Australia); the University of Berne (Switzerland); the National Institute of Standards and Technology (Boulder, Colorado); and the National University of Ireland in Galway. Professor McCabe is an elected fellow of the American Association for the Advancement of Science and of the American Statistical Association; he was 1998 Chair of its section on Statistical Consulting. From 2008 to 2010, he served on the Institute of Medicine Committee on Nutrition Standards for the National School Lunch and Breakfast Programs.  He has served on the editorial boards of several statistics journals, has consulted with many major corporations, and has testified as an expert witness on the use of statistics.
 
Professor McCabe’s research has focused on applications of statistics.  Much of his recent work has been on problems of nutrition, including nutrient requirements, calcium metabolism, and bone health. He is author or coauthor of more than 160 publications in many different journals.

Achieve for The Practice of Statistics for Business and Economics 5e is an online learning system backed by extensive development and research. Proven to increase student engagement and boost performance. Achieve offers:

Access to the ebook to download, read and virtually annotate for a completely flexible experience.
Course and book-specific resources including adaptive quizzing to personalise the experience for students.
A grade book, assignable assessments with targeted feedback, insights and reporting, instructor resources - all with seamless integration options.
Integrated with iClicker so that instructors and students can benefit in class and remotely from an industry leading student response system.
‘In-Class Learning Activities’ based on case studies from the textbook, in-class learning activities include guided tasks and problem-solving activities designed to promote critical thinking and collaboration. In these activities, students may formulate questions, analyze data, derive conclusions, and reflect on their learning.
‘R Markdown files’ show students how to solve selected data-driven PSBE exercises using R.
‘Video Technology Manuals’ available for TI-83/84 calculators, Minitab, Excel, JMP, SPSS, R, RStudio, Rcmdr, and CrunchIt!® provide brief instructions for using specific statistical software. Icons in the e-book link to specific video technology manuals at relevant locations within the text.
StatTutor Tutorials, Videos, Statistical Applets, Data Tools and more

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Achieve is our online learning system backed by extensive development and research, proven to increase student engagement and boost performance. Achieve offers:

Access to the ebook to download, read and virtually annotate for a completely flexible experience.
Course and book-specific resources. Most Achieve courses come our LearningCurve, our adaptive quizzing engine with personalized question sets and clear feedback based on each student’s correct and incorrect answers.
A grade book, assignable assessments with targeted feedback, insights and reporting, instructor resources - all with seamless integration options.

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