Mgmt 650 Business Data Analysis

Business Data Analysis

SCH-MGMT 650

STATISTICS FOR MANAGERS
USING Microsoft Excel
David M. Levine David F. Stephan
Timothy C. Krehbiel Mark L. Berenson

Custom Edition for

UMASS-Amherst
Professor Robert Nakosteen
Taken from:
Statistics for Managers: Using Microsoft Excel, Fifth Edition by David M. Levine, David F. Stephan, Timothy C. Krehbiel, and Mark L. Berenson

Cover photo taken by Lauren Labrecque.
Taken from:
Statistics for Managers: Using Microsoft Excel, Fifth Edition by David M. Levine, David F. Stephan, Timothy C. Krehbiel, and Mark L. Berenson
Copyright 2008, 2005, 2002, 1999, 1997 by Pearson Education, Inc.
Published by Prentice Hall
Upper Saddle River, New Jersey 07458
All rights reserved. No part
Z scores for detecting outliers are now included. The sample covariance is now included, as is the coefficient of correlation.
Chapter 4 now includes additional examples.
Chapter 5 covers the Poisson distribution prior to the hypergeometric distribution.
Chapter 6 has a simplified section on the normal probability plot. Coverage of sampling distributions has been moved to a new Chapter 7.
Chapter 7 now covers sampling distributions along with types of survey sampling methods and survey worthiness.
Chapter 8 has 28 new problems.
Chapter 9 uses a simple, six-step method to perform hypothesis tests using the critical value approach and a straightforward five-step method to perform hypothesis tests using the pvalue.
Chapter 10 (formerly Chapter 13) now includes computations for the regression coefficients and sum of squares in chapter examples.
Chapter 11 (formerly Chapter 14) now covers R2, and adjusted R2 prior to residual analysis.

Hallmark Features
We have continued many of the traditions of past editions and have highlighted some of those features below:
Using Statistics business scenarios Each chapter begins with a Using Statistics example that shows how statistics is used in accounting, finance, information systems,
Levine, Mark L. Berenson, and Timothy C. Krehbiel. Published by Prentice Hall.
Copyright 2008 by Pearson Education, Inc.

1.2: Statistics for Managers

3

How This Text Is Organized
Table 1.1 shows the chapters of Statistics for Managers Using Microsoft Excel organized according to the four activities for which decision makers use statistics.

TAB LE 1 .1
Organization of This Text

Presenting and Describing Information
Data Collection (Chapter 1)
Presenting Data in Tables and Charts (Chapter 2)
Numerical Descriptive Measures (Chapter 3)
Drawing Conclusions About Populations Using Sample Information
Basic Probability (Chapter 4), a prerequisite for the rest of the chapters of this group
Some Important Discrete Probability Distributions (Chapter 5)
The Normal Distribution and Other Continuous Distributions (Chapter 6) and Sampling and Sampling Distributions (Chapter 7), which lead to Confidence Interval Estimation
(Chapter 8) and Hypothesis Testing (Chapter 9)
Making Reliable Forecasts
Simple Linear Regression (Chapter 10)
Introduction to Multiple Regression (Chapter 11)

Methods presented in the Chapters 1 3 are all examples of descriptive statistics,