By relating the concepts and applications of statistics to the functional areas of business - accounting, marketing, management, economics and finance – this second edition of Basic Business Statistics shows today’s Australian business student how relevant statistics are to them and their future careers.
The conversational writing style and streamlined design helps students with their comprehension of the concepts, and creates a thoroughly readable and succinct learning resource. It also emphasises the use of statistics to analyse and interpret data and assumes that computer software is an integral part of this analysis. The text features Excel and PhStat 2 and is supported by MathXL, which provides instructors with a rich and flexible set of course materials, along with course-management tools that make it easy to deliver all or a portion of your course online.
PART A: PRESENTING AND DESCRIBING INFORMATION
1. Introduction and data collection
2. Presenting data in tables and charts
3. Numerical descriptive measures
PART B: MEASURING UNCERTAINTY
4. Basic probability
5. Some importantly discrete probability distributions
6. The normal distributions and other continuous distributions
7. Sampling distributions
PART C: DRAWING CONCLUSIONS ABOUT POPULATIONS BASED ONLY ON SAMPLE INFORMATION
8. Confidence interval estimation
9. Fundamentals of hypothesis testing: One-sample tests
10. Two-sample tests and analysis of variance
11. Chi-square tests and two-sample parametric proportion tests
PART D: DETERMINING CAUSE AND MAKING RELIABLE FORECASTS
12. Simple linear regression
13. Introduction to multiple regression
14. Time-series forecasting and index numbers
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Australian approach. Through the use of detailed conceptual explanations and engaging local examples and cases, the text makes statistics comprehensible, relevant and enjoyable to students.
Streamlined text. Featuring 14 chapters, the text is an uncluttered yet comprehensive learning resource, ideal for a one semester unit.
Unique to Pearson, MathXL
provides instructors with a rich and flexible set of course materials, along with course-management tools that make it easy to deliver all or a portion of your course online. Students also benefit from self-guided diagnostic testing and remediation on key statistical concepts. While doing exercises and problems students can link directly to the relevant section of the online text. This context-sensitive help directs students to what they need to know to complete the question.
Learning objectives introduce students to the key concepts to be covered in each chapter, and are signposted in the margins where they are covered within the chapter.
Motivating chapter-opening scenarios show how statistics are used in everyday life. The scenarios introduce the concepts to be covered, showing the relevance of using particular statistical techniques. The problem is woven through each chapter showing the connection between statistics and their use in business, as well as keeping students motivated.
Real world, business examples are included throughout the chapter. These are designed to show the multiple applications of statistics, while helping students to learn the statistics techniques
Emphasis on data output and interpretation
The authors believe that the use of computer software is an integral part of learning statistics. Our focus emphasises analysing data by interpreting the output from Microsoft Excel while reducing emphasis on doing calculations. Therefore we have included more computer output and integrated this output into the fabric of the text. For example in the coverage of tables and charts in Chapter 2, the emphasis is on the interpretation of various charts, not on their construction. In the coverage of hypothesis testing in Chapters 9 through 12, extensive computer output is included so that the focus can be placed on the p-value approach. In our coverage of simple linear regression in Chapter 13, we assume that a software program will be used and our focus is on interpretation of the output, not on hand calculations.
Summaries are provided at the end of each chapter, to help student review the key content.
Key terms are signposted in the margins when they are first introduced, and are referenced to page numbers at the end of each chapter, helping student to revise key terms and concepts for the chapter.
End of section problems are divided into Learning the Basics and Applying the Concepts.
End of part problems challenge the student to make decisions about the appropriate technique to apply, to carry out that technique and to interpret the data meaningfully.
Ethical issues sections are integrated into many chapters raising ethical issues for consideration.
PH Stat2, a supplemental add-in program for Microsoft Excel, that enhances the statistical capabilities of Microsoft Excel, is included on the companion website. When combined with Microsoft Excel’s own Data Analysis Toolpak add-in, virtually all statistical methods taught in introductory statistics courses can be illustrated using Microsoft Excel.
Visual Explorations, a Microsoft Excel workbook included on the Companion Website allows students to interactively explore important statistical concepts. For example, in descriptive statistics, students can observe the effect of changes in the data on the mean, median, quartiles and standard deviation.
The Companion Website contains downloadable versions of all of the data sets referenced in the text. Visit www.pearson.com.au/highered/berenson2e to download these resources as well as latest version of PhStat, Visual Explorations, SPSS and Minitab files and exercises, and to read additional topics on statistics.
FUSION DOCUMENTARY DVD SERIES
Films that fuse theory and practice!
Acknowledging the visual learning styles of many of today’s students, these quality DVD clips illuminate key theories and concepts using real-life Australian case studies and interviews with today’s managers. This set of Fusion Business Statistics DVD clips were produced by Australian university educators for use by instructors. These DVD clips are purpose built for in-lecture delivery and may be customised for use with PowerPoint slides. The video clips include:
Topic 1. Business Stats – Bigpond Australia 7.42 min
Topic 2. Sampling Distribution: Business Statistics in Focus TNS 5.28 min
Topic 3. Data Collection and Organisation: Tyrells Winery 6.50 min
Topic 4. Forecasting – Taylor Fry 6.47min
Topic 5. Price Indexes and CPI – Australian Bureau of Statistics 6.18 min
Mark L. Berenson is a professor of Management and Information Systems at Montclair State University (Montclair, New Jersey) and also Professor Emeritus of Statistics and Computer Information Systems at Bernard M. Baruch College (City University of New York). Over the years, Mark has received several awards for teaching and for innovative contributions to statistics education. In 2005 he was the first recipient of the Catherine A. Becker Service for Educational Excellent Award at Montclair State University.
David M. Levine is Professor Emeritus of Statistics and Computer Information Systems at Bernard M. Baruch State University. He is nationally recognised as a leading innovator in statistics education and is the co-author of 14 books, including the best-selling Statistics for Managers Using Microsoft Excel.
Timothy C. Kriehbel is Professor of Decision Sciences and Management Information Systems at the Farmer School of Business at Miami University in Oxford, Ohio. In 1996 he received the prestigious Instructional Innovation Award from the Decision Sciences Institute. Tim’s research interests span across all areas of business and applied statistics.
Judith Watson teaches in the Australian School of Business at the University of New South Wales. She has extensive experience in lecturing and administering undergraduate and postgraduate Quantitative Methods courses. Her keen interest in student support led her to establish the Peer Assisted Support Scheme (PASS) in 1996 and she has co-ordinated this program for many years. She served as her faculty’s academic adviser from 2001-2004 and was a recipient of the inaugural Australian School of Business Outstanding Teaching Innovations Award in 2008.
Dr Nicola Jayne is a Lecturer within the School of Commerce and Management at the Lismore campus of Southern Cross University. She has been teaching in the quantitative (mathematics and statistics) area since being appointed to the University in 1993 after several years teaching at Massey University in New Zealand. Nicola has lectured and tutored in Business and Financial Mathematics, Discrete Mathematics and Statistics units, both undergraduate and postgraduate, as well as various Pure Mathematics units.
Her academic qualifications include a Bachelor of Science (majors in Mathematics and Statistics), a Bachelor of Science with Honours and a Doctor of Philosophy both in Mathematics all from Massey University. While at Massey University Nicola was awarded the G.H. Bennett Prize in Mathematics, she was a Massey Scholar and a UGC Postgraduate Scholar.
In her teaching Nicola attempts to establish a clear link between statistics and its uses in the real world by using real-life problems and data with a strong emphasis on interpretation and communication of results.
Professor Lindsay W. Turner (PhD UNSW) is Professor of Econometrics in the School of Applied Economics at Victoria University, Melbourne, Australia and Professorial Research Fellow of Central University of Finance and Economics, Beijing, China.
He is an applied econometrician specialising in forecasting and has published over one hundred journal articles and 12 books in the field of economic forecasting, applied international trade and tourism economics. His research is widely disseminated at research conference presentations and plenary presentations throughout the world. In the past fifteen years his focus has been on international tourism, the forecasting of international tourist arrivals and related issues of cultural divergence and impact.
Starting in 2001 Professor Turner has undertaken an extensive modelling development to generate detailed tourist arrivals forecasts for the entire Asia Pacific region, including North America each year. These tourist arrivals forecasts are published by the Pacific Asia Travel Association based in Bangkok, Thailand.
From 1980 to 2008 he has taught the statistics first year subject at Victoria University in the School of Business and Law, and co-ordinated the subject Business Statistics from 1980 to 1999. He has also been extensively involved in curriculum design for statistics subjects at all year levels, including postgraduate Masters and DBA subjects.
Dr Martin O’Brien is a Senior Lecturer and Head of Postgraduate Studies in the School of Economics at the University of Wollongong. Martin earned his Bachelor of Commerce (first-class honours) and PhD in Economics at The University of Newcastle.
His PhD and subsequent published research is in the general area of labour economics, and specifically the exploration of older workers’ labour force participation in Australia in the context of an ageing society. Martin has taught a wide range of quantitative subjects at University level including business statistics, quantitative analysis for decision making, econometrics, business research methods, as well as quality management. He also has a keen interest in the development of new teaching technologies and the analysis of alternative teaching methods.