Statistics for Business
eBook - ePub

Statistics for Business

Derek L. Waller

Condividi libro
  1. 646 pagine
  2. English
  3. ePUB (disponibile sull'app)
  4. Disponibile su iOS e Android
eBook - ePub

Statistics for Business

Derek L. Waller

Dettagli del libro
Anteprima del libro
Indice dei contenuti
Citazioni

Informazioni sul libro

Statistics for Business explains the fundamentals of statistical analysis in a lucid, pragmatic way. A thorough knowledge of statistics is essential for decision making in all corners of business and management. By collecting, organizing and analyzing statistical data you can express what you know, benchmark your current situation, and estimate future outcomes.

Based entirely on Microsoft Excel, this book covers a spectrum of statistic fundamentals from basic principles, to probability, sampling, hypothesis testing, forecasting, statistical process control and six-sigma management. This second edition is packed with features to aid understanding and help ensure that every aspect of your knowledge of statistics is applicable to practice, including:



  • Icebreakers introducing each chapter that relate statistics to the real world, drawn from management and hospitality situations


  • Detailed worked examples in each chapter


  • Over 140 case-exercises complete with objective, situation, requirements, and answers


  • A complete glossary of key terminology and formulas, mathematical relationships, and Excel relationships and functions


  • A brand new companion website containing slides, worked-out-solutions to the case-exercises, and a test bank [coming soon]

With a clear and accessible style this book makes statistics easier to understand. It is ideal for business, management, tourism and hospitality students who want to learn how to apply statistics to the real world.

Domande frequenti

Come faccio ad annullare l'abbonamento?
È semplicissimo: basta accedere alla sezione Account nelle Impostazioni e cliccare su "Annulla abbonamento". Dopo la cancellazione, l'abbonamento rimarrà attivo per il periodo rimanente già pagato. Per maggiori informazioni, clicca qui
È possibile scaricare libri? Se sì, come?
Al momento è possibile scaricare tramite l'app tutti i nostri libri ePub mobile-friendly. Anche la maggior parte dei nostri PDF è scaricabile e stiamo lavorando per rendere disponibile quanto prima il download di tutti gli altri file. Per maggiori informazioni, clicca qui
Che differenza c'è tra i piani?
Entrambi i piani ti danno accesso illimitato alla libreria e a tutte le funzionalità di Perlego. Le uniche differenze sono il prezzo e il periodo di abbonamento: con il piano annuale risparmierai circa il 30% rispetto a 12 rate con quello mensile.
Cos'è Perlego?
Perlego è un servizio di abbonamento a testi accademici, che ti permette di accedere a un'intera libreria online a un prezzo inferiore rispetto a quello che pagheresti per acquistare un singolo libro al mese. Con oltre 1 milione di testi suddivisi in più di 1.000 categorie, troverai sicuramente ciò che fa per te! Per maggiori informazioni, clicca qui.
Perlego supporta la sintesi vocale?
Cerca l'icona Sintesi vocale nel prossimo libro che leggerai per verificare se è possibile riprodurre l'audio. Questo strumento permette di leggere il testo a voce alta, evidenziandolo man mano che la lettura procede. Puoi aumentare o diminuire la velocità della sintesi vocale, oppure sospendere la riproduzione. Per maggiori informazioni, clicca qui.
Statistics for Business è disponibile online in formato PDF/ePub?
Sì, puoi accedere a Statistics for Business di Derek L. Waller in formato PDF e/o ePub, così come ad altri libri molto apprezzati nelle sezioni relative a Economics e Statistics for Business & Economics. Scopri oltre 1 milione di libri disponibili nel nostro catalogo.

Informazioni

Editore
Routledge
Anno
2016
ISBN
9781134505005

1
Characterizing and defining statistical data

ICEBREAKER: International cost of living

How do you compare the international cost of living? One way is to measure how much it costs to eat out. However, here the question comes up, what type of meal? The UK-based magazine The Economist has devised a simple innovative approach by comparing the price of a McDonald’s Big Mac hamburger in various countries worldwide. It uses this as a basis since most of us at some point have eaten a McDonald’s hamburger, wherever that may have been. This is a study and analysis that The Economist has been performing since 1986. Statistical data, in local currencies, for January 2012 is given in Table 1.0 for 44 different countries.
Using the $US currency exchange rate at this period and considering, for example, the BRIC countries, we note that the cost of living in Brazil is 35 percent higher than in the USA. However, it is 39 percent, 61 percent and 42 percent lower in Russia, India, and China respectively. If you are a globetrotter and a hamburger is your staple diet, you will learn that the worldwide average price of the hamburger is $US 3.59; half of the hamburgers cost more than $US 3.36; the price range of the hamburgers is $US 5.17; the most expensive hamburger is in Norway at $US 6.79; and the cheapest “hamburger” is in India at $US 1.62, though in India a hamburger is made from chicken and not beef!
It is these characteristics and properties of statistical data that are covered in this chapter.
Figure 1.0 The ubiquitous hamburger.
Figure 1.0 The ubiquitous hamburger.
Source: author.
Table 1.0 Big Mac index: The Economist, January 14, 2012
Table 1.0 Big Mac index: The Economist, January 14, 2012
Chapter subjects
  • Types of dataQuantitative dataQualitative dataMix qualitative/quantitative data
  • Central tendencyArithmetic meanMedianModeMidrangeWeighted averagesQuestionnaires and weighted averagesGeometric meanPolitics and central tendency
  • DispersionData spreadRangeVarianceStandard deviationCalculation of variance and standard deviationDeviation about the mean Coefficient of variationQuartilesPercentiles
In God we trust; everyone else bring data
Mike Bloomberg, Mayor of New York, 2001–131
To characterize and describe people we use terms like tall, slim, small, blond, blue-eyed, intelligent, and the like. In this way we develop an image of the person in question. Similarly in business it is important to characterize and describe statistical data so that we can understand situations using perhaps average, range, median, standard deviation, mode, etc. Statistical data are a collection of information from which conclusions or logical decisions can be drawn. From the data benchmark values can be determined, which then provide a reference point such as the world average price of a hamburger as given in the icebreaker.

Types of data

A collection of data is a dataset where the concept of “set” arises from referring to a set of objects: a set of stamps, a set of coins, or a set of drawings. A dataset is also called a data array. Data may be quantitative, qualitative, or a combination qualitative/quantitative. A dataset may describe a population where all data values are included: the population of China, the hotel staff population, or the elephant population in Africa. If the dataset is not a population it is a sample of a population: the back office staff would be a sample of the hotel population, a blood sample, or a water sample from the Rhine river. Population values are often considered parameters whereas sample values are taken as variables.

Quantitative data

Quantitative data may be integer values, or wh...

Indice dei contenuti