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Business Statistics - Abridged

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This text emphasises applications over theory. It illustrates the importance of statistical methods and tools for today's managers and analysts, and how to apply them to business problems using real-world data. Using a proven three-step Identify-Compute-Interpret (ICI) approach to problem-solving, the text teaches students how to (1) Identify the correct statistical technique by focusing on the problem objective and data type; (2) Compute the statistics doing them by hand and using Excel; and (3) Interpret results in the context of the problem. This unique approach enhances students' comprehension and practical skills. Students find relevance in a wide variety of exercises and cases. Examples draw on the statistical applications used by marketing managers, financial analysts, accountants, economists, and from throughout the business world. Many students struggle with statistics. This textbook provides a robust learning pedagogy to make statistics accessible. Students find the material easy to understand and easy to apply in the business environment.
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Table of Contents

1. What is statistics? App 1 A Instructions for the CD-ROM App 1 B Introduction to Microsoft Excel Part 1: Descriptive measures and probability 2. Graphical descriptive methods 3. Art and science of graphical presentations 4. Numerical descriptive measures Appendix 4.A Summation notation 5. Probability 6. Data collection and sampling 7. Random variables and discrete probability distributions 8. Continuous probability distributions Part 2: Statistical inference 9. Statistical inference: An introduction 10. Sampling distributions 11. Estimation: Describing a single population 12. Hypothesis testing: Describing a single population 13. Additional Tests for nominal data: Chi-squared tests Appendix 13.A Excel instructions 14. Simple linear regression and correlation 15. Multiple regression Part 3: Applications 16. Time series analysis and forecasting 17. Index numbers Appendix A: Summary solutions for selected exercises Appendix B: Solutions to self-correcting exercises Appendix C: Tables Index

About the Author

Selva is Professor in Econometrics and Applied Statistics in the Griffith Business School and Director of BIntBus Program at Griffith University. He is also a Visiting Professor at the Madras School of Economics, Anna University, Chennai, India. Selva has also taught previously at the University of Jaffna (Sri Lanka), Murdoch University (Australia) and The University of Western Australia (Australia) and University of Queensland (Australia). He has held positions such as the Deputy Dean (Staffing), Faculty of International Business, and Deputy Director of the Statistics and Research Design (STARDS) Unit at Griffith University. Selva was educated at the University of Jaffna, University of Bucurest (Romania), The University of Western Australia and Murdoch University (Australia). He is the recipient of several individual and group Excellence in Teaching Awards and has received numerous of competitive teaching and research grants. Selva has published six research monographs and has published widely in international refereed journals such as Journal of Econometrics, Review of Economics and Statistics, Journal of Business and Economic Statistics, Review of Economics Studies and Marketing Science, and several book chapters. Currently Selva coordinates the OUA Business Statistics units, which are administered by Griffith Uni. 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. Saroja is Professor in Econometrics in the Department of Accounting, Finance and Economics, Griffith University, a Visiting Professor at the Madras School of Economics, Anna University, Chennai, India, and Research Higher Degrees Convenor, Economics and Business Statistics, at Griffith University. She has also held positions such as Deputy Dean (Research) in the Faculty of Commerce and Administration, the Director of the Statistics and Research Design (STARDS) Unit and the Head of the Economics and Business Statistics Discipline at Griffith University. She has also taught previously at the University of Jaffna (Sri Lanka), Murdoch University (Australia) and The University of Western Australia. Saroja was educated at the University of Jaffna, Murdoch University and The University of Western Australia, and has published several research monographs and research papers in international refereed journals such as the Review of Economics and Statistics, Transportation Research and Economics Letters, and book chapters. Saroja was the recipient of 2005 Excellence in Teaching Award for innovation across the institution for teaching statistics to postgraduate students.

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