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Business Statistics: A Decision Making Approach, 11th edition

Published by Pearson (January 14, 2023) © 2024

  • David F. Groebner Boise State University
  • Patrick W. Shannon Boise State University
  • Phillip C. Fry Boise State University

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For 2-semester courses in Introductory Business Statistics.

Applies statistical analysis to real-world decision making

Business Statistics presents concepts and techniques in a systematic, ordered way. Clear, step-by-step explanations are supported by engaging examples that use statistical techniques in business decision situations; the use of real companies with actual applications and rich data sets promotes realistic decision making and conveys the relevance of statistics. Drawing from extensive experience as educators and consultants, the authors present content at a level that is accessible to students at all mathematical skill levels. The 11th Edition updates data and examples throughout, and more.

Hallmark features of this title

  • Step-by-step approach includes How to Do It lists that summarize major techniques and fundamental concepts; Textual Examples give step-by-step details, helping students to follow solution techniques.
  • Real-world business applications marked by icon cover areas from accounting and finance to supply chain management.
    • Chapter Cases enable students to apply statistical tools. Students must define a problem, choose the appropriate tool, apply it and write a summary report.
  • Chapter-opening Quick Prep Links suggest ways to prepare for topics discussed.
  • Excel Functions boxes provide the Excel function needed to complete a specific test or calculation. 
  • Problems and exercises are organized by Skill Development, Business Applications, and Computer Software Exercises.

New and updated features of this title

  • Updated real business examples put solution techniques in the context of real-world business applications.
  • Updated Excel screen captures illustrate how this software is used to aid statistical analysis.
    • For the 11th Edition, the XLSTAT Excel add-in is used in some examples of data analysis
  • New and updated business applications include areas from accounting to finance to supply-chain management.
  • Updated exercises and data files are found throughout.
  • Updated Chapter 18 introduces Business Analytics using Microsoft's Power BI tool.
  • A new author-prepared test bank is now available.

Features of MyLab Statistics for the 11th Edition

  • A refreshed video package includes over 200 new content and Microsoft Excel tutorial videos created by the authors. Videos help explain concepts and walk students through problem solving techniques using Excel for data analysis.  
  • Approx. 200 exercises with immediate feedback updated for new data and clarity; exercises regenerate algorithmically to provide unlimited practice. Most include learning aids such as guided solutions and sample problems, and offer helpful feedback on incorrect answers.
  • Integrated Review can be used to help students who enter without a full understanding of prerequisite skills and concepts. Integrated Review MyLab courses provide a full suite of supporting resources, plus additional assignments and study aids for students who will benefit from remediation. Assignments for the integrated review content are preassigned in MyLab.
  • Dynamic Study Modules continuously assess student performance and activity, then provide personalized content in real-time to reinforce concepts that target each student's strengths and weaknesses. 
  • Mindset videos and assignable, open-ended exercises foster a growth mindset. 
  • Personal Inventory Assessments promote self-reflection and metacognition, with topics such as a Stress Management Assessment and Time Management Assessment. 
  • 1. The Where, Why, and How of Data
  • 2. Graphs, Charts, and Tables: Describing Your Data
  • 3. Describing Data Using Numerical Measures
  • 1 - 3 SPECIAL REVIEW SECTION
  • 4. Introduction to Probability
  • 5. Discrete Probability Distributions
  • 6. Introduction to Continuous Probability Distributions
  • 7. Introduction to Sampling Distributions
  • 8. Estimating Single Population Parameters
  • 9. Introduction to Hypothesis Testing
  • 10. Estimation and Hypothesis Testing for Two Population Parameters
  • 11. Hypothesis Tests and Estimation for Population Variances
  • 12. Analysis of Variance
  • 8 - 12 SPECIAL REVIEW SECTION
  • 13. Goodness-of-Fit Tests and Contingency Analysis
  • 14. Introduction to Linear Regression and Correlation Analysis
  • 15. Multiple Regression Analysis and Model Building
  • 16. Analyzing and Forecasting Time-Series Data
  • 17. Introduction to Nonparametric Statistics
  • 18. Introducing Business Analytics
  • 19. Introduction to Decision Analysis (Online)
  • 20. Introduction to Quality and Statistical Process Control (Online)

APPENDICES

  • A. Random Numbers Table
  • B. Cumulative Binomial Distribution Table
  • C. Cumulative Poisson Probability Distribution
  • D. Standard Normal Distribution Table
  • E. Exponential Distribution Table
  • F. Values of t for Selected Probabilities
  • G. Values of χ2 for Selected Probabilities
  • H. F-Distribution
  • I. Distribution of the Studentized Range (q-values)
  • J. Critical Values of r in the Runs Test
  • K. Mann - Whitney U Test Probabilities (n < 9)
  • L. Mann - Whitney U Test Critical Values (9 ≤ n ≤ 20)
  • M. Critical Values of T in the Wilcoxon Matched-Pairs Signed-Ranks Test (n ≤ 25)
  • N. Critical Values dL and dU of the Durbin-Watson Statistic D
  • O. Lower and Upper Critical Values W of Wilcoxon Signed-Ranks Test
  • P. Control Chart Factors

About our authors

David F. Groebner, PhD is Professor Emeritus of Production Management in the College of Business and Economics at Boise State University. He has bachelor's and master's degrees in engineering and a PhD in business administration. After working as an engineer, he has taught statistics and related subjects for 27 years. In addition to writing textbooks and academic papers, he has worked extensively with both small and large organizations including Hewlett-Packard, Boise Cascade, Albertson's and Ore-Ida. He has also consulted for numerous government agencies, including Boise City and the U.S. Air Force.

Patrick W. Shannon, PhD is Professor and Dean Emeritus of Supply Chain Operations Management in the College of Business and Economics at Boise State University. He has taught graduate and undergraduate courses in business statistics, quality management and lean operations, and supply chain management. Dr. Shannon has lectured and consulted in the statistical analysis and lean/quality management areas for more than 30 years. Among his consulting clients are Boise Cascade Corporation, Hewlett-Packard, PowerBar, Inc., Potlatch Corporation, Woodgrain Millwork, Inc., J.R. Simplot Company, Zilog Corporation, and numerous other public- and private-sector organizations. Professor Shannon has co-authored several university-level textbooks and has published numerous articles in such journals as Business Horizons, Interfaces, Journal of Simulation, Journal of Production and Inventory Control, Quality Progress, Journal of Marketing Research, and Decision Sciences Journal of Innovative Education. He obtained BS and MS degrees from the University of Montana, and a PhD in statistics and quantitative methods from the University of Oregon.

Phillip C. Fry, PhD is a professor Emeritus of Supply Chain Management in the College of Business and Economics at Boise State. Phil received his BA and MBA degrees from the University of Arkansas and his MS and PhD degrees from Louisiana State University. His teaching and research interests are in the areas of business statistics, supply chain management, and quantitative business modeling. He has published in the European Journal of Operations Research, Production and Inventory Management Journal, Journal of Accounting and Finance, Journal of the Academy of Finance, and the Decision Sciences Journal of Innovative Education. In addition to his academic responsibilities, Phil has consulted with and provided training to small and large organizations, including Boise Cascade Corporation, Hewlett-Packard Corporation, the J.R. Simplot Company, United Water of Idaho, Woodgrain Millwork, Inc., Boise City, and Intermountain Gas Company.

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