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Statistics for Management and Economics, Abbreviated Edition (with Essential Textbook Resources Printed Access Card) PDF

810 Pages·2011·19.62 MB·English
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IFC-Abbreviated.qxd 11/22/10 7:03 PM Page 2 nshipMore Analyze Relatioamong Two or Variables Multiple regressionChapter 17 Not covered Not covered y c n e Analyze Relationshipbetween Two Variables Scatter diagramSection 3.3 CovarianceSection 4.4 Coefficient of correlation Section 4.4 Coefficient of determinationSection 4.4 Least squares lineSection 4.4 Simple linear regression andcorrelationChapter 16 Chi-squared test of a contingtableSection 15.2 e UES Compare Two orMore Populations One-way analysis of varianceSection 14.1 LSD multiple comparisonmethodSection 14.2 Tukey’s multiple comparisonmethodSection 14.2 Two-way analysis of varianceSection 14.4 Two-factor analysis of variancSection 14.5 Chi-squared test of acontingency tableSection 15.2 Q I N O STATISTICALTECH Compare Two Populations Equal-variances -test and estimatortof the difference between twomeans: independent samplesSection 13.1 Unequal-variances -test andtestimator of the difference betweentwo means: independent samplesSection 13.1 -test and estimator of meantdifference Section 13.3 -test and estimator of ratio of twoFvariancesSection 13.4 -test and estimator of thezdifference between two proportionsSection 13.5 Chi-squared test of a contingencytableSection 15.2 T E es A GUID Problem Objectiv Describe aPopulation HistogramSection 3.1 OgiveSection 3.1 Stem-and-leafSection 3.1 Line chartSection 3.2 Mean, median, and modeSection 4.1 Range, variance, andstandard deviation Section 4.2ion 4.2 Percentiles and quartilesSection 4.3 Box plotSection 4.3 -testandestimatorofameantSection 12.1 Chi-squared test andestimator of a varianceSection 12.2 Frequency distributionSection 2.2 Bar chartSection 2.2 Pie chartSection 2.2 -test and estimator zof a proportionSection 12.3 Chi-squared goodness-of-fit testSection 15.1 MedianSection 4.1 Percentiles and quartilesSection 4.3 Box plotSection 4.3 lavretnI lanimoN lanidrO SEPYT ATAD Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. IFC-Abbreviated.qxd 11/22/10 7:03 PM Page 3 AMERICAN NATIONAL ELECTION SURVEY AND GENERAL SOCIAL SURVEY EXERCISES Chapter ANES Page GSS Page 2 2.34–2.37 31 3 3.62–3.67 82 3.25–3.28 64 3.68–3.71 82 4 4.37–4.38 117 4.39 117 4.58–4.60 126 4.61–4.62 126 4.86 144 4.84–4.85 144 12 12.51–12.53 413 12.46–12.50 413 12.116–12.123 435 12.103–12.115 434 13 13.42–13.44 472 13.38–13.41 472 13.73 488 13.70–13.72 488 13.123–13.125 512 13.113–13.122 511 A13.27–A13.30 524 A13.18–A13.126 523 14 14.27–14.32 543 14.21–14.26 542 14.47–14.50 553 14.43–14.46 552 14.66–14.67 563 A14.23–A14.25 594 A14.19–A14.22 594 15 15.17 604 15.18–15.21 604 15.43–15.46 615 15.39–15.42 614 A15.25–A15.28 631 A15.17–A15.24 630 16 16.45–16.49 665 16.50–16.53 666 16.73–16.76 671 16.77–16.80 671 A16.27–A16.28 689 A16.17–A16.26 689 17 17.21–17.22 713 17.16–17.20 712 A17.27–A17.28 734 A17.17–A17.26 733 APPLICATION SECTIONS Section4.5 (Optional)ApplicationinProfessionalSportsManagement:DeterminantsoftheNumber ofWinsinaBaseballSeason(illustratinganapplicationoftheleastsquaresmethodand correlation) 144 Section 4.6 (Optional) Application in Finance: Market Model (illustrating using a least squares lines and coefficient of determination to estimate a stock’s market-related risk and its firm-specific risk) 147 Section 7.3 (Optional) Application in Finance: Portfolio Diversification and Asset Allocation (illustrating the laws of expected value and variance and covariance) 237 Section 12.4 (Optional) Application in Marketing: Market Segmentation (using inference about a proportion to estimate the size of a market segment) 435 Section 14.6 (Optional) Application in Operations Management: Finding and Reducing Variation (using analysis of variance to actively experiment to find sources of variation) 578 APPLICATION SUBSECTION Section 6.4 (Optional) Application in Medicine and Medical Insurance: Medical Screening (using Bayes’s Law to calculate probabilities after a screening test) 199 Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. This page intentionally left blank Abb_FM.qxd 11/23/10 12:33 AM Page i Statistics FOR MANAGEMENT AND ECONOMICS ABBREVIATED 9e Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially a ffect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit w ww.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. 5522660099__0000__ffmm__ppii--ppxxxxvvii..iinndddd iiii 22//11//1100 1111::3377::4433 PPMM Abb_FM.qxd 11/23/10 12:33 AM Page iii Statistics FOR MANAGEMENT AND ECONOMICS ABBREVIATED 9e G E R A L D K E L L E R Wilfred Laurier University Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Abb_FM.qxd 11/23/10 12:33 AM Page iv Statistics for Management and Economics © 2012, 2009South-Western, a part of Cengage Learning Abbreviated, Ninth Edition ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may Gerald Keller be reproduced, transmitted, stored or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, VP/Editorial Director: scanning, digitizing, taping, Web distribution, information networks, or information Jack W. Calhoun storage and retrieval systems, except as permitted under Section 107or 108of the Publisher: 1976United States Copyright Act, without the prior written permission of the Joe Sabatino publisher Senior Acquisitions Editor: Charles McCormick, Jr. For product information and technology assistance, contact us at Developmental Editor: Cengage Learning Customer & Sales Support,11--880000--335544--99770066 Elizabeth Lowry For permission to use material from this text or product, Editorial Assistant: submit all requests online at www.cengage.com/permissions Nora Heink Further permissions questions can be emailed to [email protected] Senior Marketing Communications Manager: ExamView® and ExamView Pro® are registered trademarks Libby Shipp of FSCreations, Inc. Windows is a registered trademark of the Marketing Manager: Microsoft Corporation used herein under license. Macintosh and Adam Marsh Power Macintosh are registered trademarks of Apple Computer, Inc. Content Project Manager: used herein under license. Jacquelyn K Featherly Media Editor: Library of Congress Control Number: 2010928228 Chris Valentine Abbreviated Student Edition ISBN 13: 978-1-111-52708-2 Manufacturing Buyer: Miranda Klapper Abbreviated Student Edition ISBN 10: 1-111-52708-3 Production House/Compositor: Package Abbreviated Student Edition ISBN 13: 978-1-111-52732-7 MPS Limited, a Macmillan Company Package Abbreviated Student Edition ISBN 10: 1-111-52732-6 Senior Rights Specialist: John Hill South-Western Cengage Learning Senior Art Director: 5191Natorp Boulevard Stacy Jenkins Shirley Mason, OH 45040 Internal Designer: USA KeDesign/cmiller design CCengage Learning products are represented in Canada by Cover Designer: Nelson Education, Ltd. Cmiller design Cover Images: For your course and learning solutions, visit www.cengage.com © iStock Photo Purchase any of our products at your local college store or at our preferred online store www.cengagebrain.com Printed in the United States of America 1 2 3 4 5 6 7 14 13 12 11 10 Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Abb_FM.qxd 11/23/10 12:33 AM Page vii B r i e f CO N T E N T S 1 What is Statistics? 1 2 Graphical Descriptive Techniques I 11 3 Graphical Descriptive Techniques II 43 4 Numerical Descriptive Techniques 97 5 Data Collection and Sampling 161 6 Probability 175 7 Random Variables and Discrete Probability Distributions 217 8 Continuous Probability Distributions 263 9 Sampling Distributions 307 10 Introduction to Estimation 335 11 Introduction to Hypothesis Testing 360 12 Inference about a Population 398 13 Inference about Comparing Two Populations 448 14 Analysis of Variance 525 15 Chi-Squared Tests 596 16 Simple Linear Regression and Correlation 633 17 Multiple Regression 692 A Appendix Data File Sample Statistics A-1 B Appendix Tables B-1 C Appendix Answers to Selected Even-Numbered Exercises C-1 Index I-1 vii Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Abb_FM.qxd 11/23/10 12:33 AM Page viii CO N T E N T S 1 What Is Statistics? 1 Introduction 1 1.1 Key Statistical Concepts 5 1.2 Statistical Applications in Business 6 1.3 Large Real Data Sets 6 1.4 Statistics and the Computer 7 2 Graphical Descriptive Techniques I 11 Introduction 12 2.1 Types of Data and Information 13 2.2 Describing a Set of Nominal Data 18 2.3 Describing the Relationship between Two Nominal Variables and Comparing Two or More Nominal Data Sets 32 3 Graphical Descriptive Techniques II 43 Introduction 44 3.1 Graphical Techniques to Describe a Set of Interval Data 44 3.2 Describing Time-Series Data 64 3.3 Describing the Relationship between Two Interval Variables 74 3.4 Art and Science of Graphical Presentations 82 4 Numerical Descriptive Techniques 97 Introduction 98 Sample Statistic or Population Parameter 98 4.1 Measures of Central Location 98 4.2 Measures of Variability 108 4.3 Measures of Relative Standing and Box Plots 117 4.4 Measures of Linear Relationship 126 4.5 (Optional) Applications in Professional Sports: Baseball 144 viii Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.

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This worldwide best-selling business statistics book teaches readers how to apply statistics to real-world business problems through the author's unique three-step approach to problem solving. Readers learn to IDENTIFY the right technique by focusing on the problem objective and data type. They then
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