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A Guide to Business Statistics

ISBN: 978-1-119-13835-8
224 pages
April 2018
A Guide to Business Statistics (1119138353) cover image

Description

Featuring an intuitive approach to statistics, this book uniquely fills a gap in the current literature by presenting a comprehensive introduction to the fundamental statistics concepts with in the fields of business and economics. The author maintains clear and insightful explanations of the core concepts and techniques in statistics without relying on mathematical rigor including equations and theorems.  Maintaining a concise exposition with minimal distractions, the book follows a comprehensive trajectory within each chapter by providing clear explanations to the key concepts. This approach is intentional so that readers to learn in a linear fashion to better understand the core concepts. The book features a brief summary of the key elements at the end of each chapter in order to reinforce the presented concepts and uses running examples throughout so that the same example is referenced to illustrate a variety of concepts. Mathematical formulae and notation is delegated to technical appendices at the end of each chapter, and a glossary of terms is also provided. Topical coverage includes: statistics, data, and statistical thinking; descriptive statistics; probability; probability distributions; sampling distributions; confidence intervals; hypotheses tests; design of experiments and analysis of variance; simple linear regression; model building; time series and forecasting; and nonparametric statistics.

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Table of Contents

Dedication

Preface

0.1. Addressing two challenges

0.2. How to use this book

0.3. Target audience

Chapter 1: Types of Data

1.1. Categorical data

1.2. Numerical data

1.3. Level of measurement

1.4. Cross-sectional, time-series and panel data

1.5. Summary

Chapter 2: Populations and Samples

2.1. What is the population of interest?

2.2. How to sample from a population?

2.3. Getting the data

2.4. Summary

Chapter 3: Descriptive Statistics

3.1. Measures of central tendency

3.2. Measures of variability

3.3. The shape

3.4. Summary

Technical Appendix

Chapter 4: Probability

4.1. Simple probabilities

4.2. Empirical probabilities

4.3. Conditional probabilities

4.4. Summary

Technical Appendix

Chapter 5: The Normal Distribution

5.1. The bell shape

5.2. The Empirical Rule

5.3. Standard normal distribution

5.4. Normal approximations

5.5. Summary

Technical Appendix

Chapter 6: Sampling Distributions

6.1. Defining a sampling distribution

6.2. The importance of sampling distributions

6.3. An example of a sampling distribution

6.4. Characteristics of a sampling distribution of a mean

6.5. Sampling distribution of a proportion

6.6. Summary

Technical Appendix

Chapter 7: Confidence Intervals

7.1. Confidence intervals for means

7.2. Confidence intervals for proportions

7.3. Sample size and the width of confidence intervals

7.4. Comparing two proportions from the same poll

7.5. Summary

Technical Appendix

Chapter 8: Hypothesis Tests of a Population Mean

8.1. Two-tail hypothesis test of a mean

8.2. One-tail hypothesis test of a mean

8.3. p-value approach to hypothesis tests

8.4. Summary

Technical Appendix

Chapter 9: Hypothesis Tests of Categorical Data

9.1. Two-tail hypothesis test of a proportion

9.2. One-tail hypothesis test of a proportion

9.3. Using p-values

9.4. Chi-square tests

9.5. Summary

Technical Appendix

Chapter 10: Hypothesis Tests Comparing Two Parameters

10.1. The approach in this chapter

10.2. Hypothesis tests of two means

10.3. Hypothesis tests of two variances

10.4. Hypothesis tests of two proportions

10.5. Summary

Technical Appendix

Chapter 11: Simple Linear Regression

11.1. The population regression model

11.2. A look at the data

11.3. Ordinary Least Squares (OLS)

11.4. The distribution of b0 and b1

11.5. Tests of significance

11.6. Goodness of fit

11.7. Checking for violations of the assumptions

11.8. Summary

Technical Appendix

Chapter 12: Multiple Regression

12.1. Population regression model

12.2. The data

12.3. Sample regression function

12.4. Interpreting the estimates

12.5. Prediction

12.6. Tests of significance

12.7. Goodness of fit

12.8. Multicollinearity

12.9. Summary

Technical Appendix

Chapter 13: More Topics in Regression

13.1. Hypothesis tests comparing two means with regression

13.2. Hypothesis tests comparing more than two means (ANOVA)

13.3. Interacting variables

13.4. Non-linearities

13.5. Time-series analysis

13.6. Summary

Index

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