STATISTICS "FOR

BUSINESS AND

ECONOMICS ~

SECOND EDITION

SWEENEY WILLIAMS

ANDERSON

FREEMAN

~...

t

SHOESMITH

SOUTH-WESTERN

(ENGAGE Learning'

Australia· Brazil· Japan· Korea· Mexico· Singapore. Spain. United Kingdom. United States

Brief contents

Preface and Acknowledgements xvii

About the Authors xx

Walk-through Tour xxii

Accompanying Website xxiv

Supplements xxv

Data and Statistics

I

2 Descriptive Statistics: Tabular and Graphical Presentations

3 Descriptive Statistics: Numerical Measures

4 Introduction to Probability

21

67

117

5 Discrete Probability Distributions 153

6 Continuous Probability Distributions

187

7 Sampling and Sampling Distributions 219

8 Interval Estimation

9 Hypothesis Tests

251

283

10 Statistical Inference about Means and Proportions with Two

Populations

335

I I Inferences about Population Variances

373

12 Tests of Goodness of Fit and Independence 399

13 Analysis of Variance and Experimental Design 429

14 Simple linear Regression 489

15 Multiple Regression 555

16 Regression Analysis: Model Building 613

17 Index Numbers 659

18 Forecasting 683

ix

,

BRIEF CONTENTS

19 Non-parametric Methods

727

20 Statistical Methods for Quality Control

21 Decision Analysis

799

22 Sample Surveys (on CD)

Appendix A References and Bibliography 835

Appendix B Tables 837

Appendix C Summation Notation 867

Appendix D Answers to Even-numbered Exercises 870

Glossary 9 I I

Index 920

767

Contents

Preface and Acknowledgments xvii

About the Authors xx

Walk-through Tour xxii

Accompanying Website xxiv

Supplements xxv

J Descriptive Statistics:

Measures 67

Statistics in practice: TV audience measureme~1 69

3.2

1.2

Data sources 8

1.4

Descriptive statistics I2

1.5

Statistical inference 14

1.6

3.3

Data 5

1.3

Computers and statistical analysis 15

Exercises 1-13 I 6

Summary 20

Key terms 20

~~

Measures of variability 76

Exercises 9-1 6 8 I

Statistics in practice: The Economist 3

Applications in business and economics 3

Measures of location 68

Exercises 1-8 75

Data and Statistics

1.1

({7J"

Learning objectives 68

3.1

Learning objectives 2

Num.l~rical

Measures of distributional shape, relative location,

and detecting outliers 82

Exercises 17-24 86

3.4

Exploratory data analysis 88

Exercises 25-31 89

3.5

Measures of association between two variables 91

Exercises 32-35 97

3.6

The weighted mean and working with grouped

data 99

Exercises 36-39 102

2 Descriptive Statistics: Tabular and

Graphical Presentations 21

Summary 104

Key tenms I04

Key formulae 105

Case problem: Company. profiles 106

Learning objectives 22

Software Section for Chapter 3 I08

Statistics in practice: YouGov and Brandlndex 23'

Descriptive statistics using MINITAB 108

Descriptive statistics using EXCEL I I I

Descriptive statistics using PASW I 14

2.1

Summarizing qualitative data 22

Exercises 1-7 26

2.2

Summarizing quantitative data 28

Exercises 8-19 38

2.3

Cross-tabulations and scatter diagrams 40

Exercises 20-25 46

Summary 49

Keytenms 50

Key formulae 50

4 Introduction to Probability

Learning objectives I I 8

Statistics in practice: Combating junk e-mail I 19

4.1

Tabular and graphical presentations using MINITAB 52

Tabular and graphical presentations using EXCEL 54

Tabular and graphical presentations using PASW 64

Experiments, counting rules and assigning

probabilities I 19

Exercises I-I I 127

Case problem: In The Mode Fashion Stores 50

Software Section for Chapter 2 52

117

4.2

Events and their probabilities 129

4.3

Some basic relationships of probability 132

Exercises I2-17 I 30

Exercises 18-20 136

xi

CONTENTS

4.4

Conditional probability 137

6.2

Exercises 21-26 142

4.5

Bayes' theorem 143

Normal probability...