Statistics for Business and Economics, 14th edition

For courses in Introductory Business Statistics. 

Real data. Real decisions. Real business.

Statistics for Business and Economics, 14th Edition introduces statistics in the context of contemporary business. Inference is emphasized, with extensive coverage of data collection and analysis as needed to evaluate the reported results of statistical studies and make good decisions. The authors highlight the discussion of ethical, data-driven decision making and apply concepts with real data. Technology is used to help students develop statistical thinking and understand the assessment of credibility and the value of the inferences made from data, by those who consume and by those who produce them.

Hallmark exercises, applications, and activities

• Data-based applications and examples introduce and illustrate new ideas, helping students understand definitions, generalizations, and theoretical concepts. All examples have three components: "Problem,” "Solution,” and "Look Back" (or "Look Ahead"). This step-by-step process provides students with a defined structure by which to approach problems and enhances their problem-solving skills. The "Look Back/Look Ahead" feature often gives helpful hints for solving the problem and/or provides a further reflection or insight into the concept or procedure that is covered. 
• REVISED - More than 1,200 exercises are included, with revisions and updates to 30%. Many new and updated exercises, based on contemporary business-related studies and real data, have been added. Most of these exercises foster critical-thinking skills.
  • REVISED – Data-informed development—The authors analyzed aggregated student usage and performance data from MyLab Statistics for the previous edition. The results helped improve the quality and quantity of exercises that matter most to instructors and students. 
  • All exercise sections are divided into at least four parts:
    • Learning the Mechanics: Designed as straightforward applications of new concepts, these exercises allow students to test their ability to comprehend a mathematical concept or a definition. 
    • Applying the Concepts—Basic: Based on applications taken from a wide variety of business journals, newspapers, and other sources, these short exercises help students to begin developing the skills necessary to diagnose and analyze real-world problems. 
    • Applying the Concepts—Intermediate: Based on more detailed real-world applications, these exercises require students to apply their knowledge of the technique presented in the section. 
    • Applying the Concepts—Advanced: These more difficult real-data exercises require students to utilize their critical thinking skills. 
  • Role of Calculus in Footnotes—Although the text is designed for students with a non- calculus background, footnotes explain the role of calculus in various derivations. Footnotes are also used to inform the student about some of the theory underlying certain methods of analysis. These footnotes allow flexibility in the mathematical and theoretical level at which the material is presented. 
• Now Work exercise suggestions follow each example. The Now Work exercise (marked with the NW icon in the exercise sets) is similar in style and concept to the text example, providing students with an opportunity to immediately test and confirm their understanding. 
• Applet Exercises are available on the student resource site and in MyLab Statistics. These point-and-click applets allow students to easily run simulations that visually demonstrate some of the more difficult statistical concepts (e.g. sampling distributions and confidence intervals). Each chapter contains several optional applet exercise sets denoted with an applet icon. 
• Applet Correlation Guide illustrating how applets align with text chapters can be accessed in the Tools for Success tab in MyLab Statistics, and also appears in the front of the book as a reference tool. 
• Profiles of Statisticians in History provide brief descriptions of famous statisticians, with their achievements presented in side boxes, allowing students to develop an appreciation for the statistician's efforts and the discipline of statistics as a whole. 
• UPDATED - Statistics in Action case studies begin each chapter and are based on an actual contemporary, controversial or high-profile issue in business. Relevant research questions and data from the study are presented and the proper analysis demonstrated in short Statistics in Action Revisited sections throughout the chapter. Three of the 14 cases are updated in the 14th Edition, and all cases are based on real data from a recent business study.
• Real-world Business Cases, with real data and assignments for the student, serve as capstones and review for the material that precedes them. Typically, these cases follow a group of two or three chapters and require the student to apply the methods presented in these chapters. 
• Hands-On Activities at the end of each chapter provide students with an opportunity to participate in hands-on classroom activities, ranging from real data collection to formal statistical analysis. These activities are designed to be performed by students individually or as a class.

Strategic use of the latest technology and video resources

• NEW - Short video tutorials guide students through real-life applications of chapter topics to illustrate how these concepts translate to everyday life. 
• UPDATED - Technology is updated throughout. All screenshots from statistical software (Excel 2019 with XLSTAT, StatCrunch, Minitab 19, and the TI-84 graphing calculator) and corresponding instructions for use have been revised to reflect the latest versions of the software. Students are exposed early and often to screenshots of the output they will encounter. 
• REVISED - Using Technology Tutorials at the end of each chapter are statistical software tutorials with point-and-click instructions (with screenshots) for Excel 2019 with XLSTAT, StatCrunch, and Minitab 19. These tutorials are easily located and show students how to best use and maximize statistical software. In addition, output and keystroke instructions for the TI-84 Graphing Calculator are presented. 
• Data and Applets – All data sets and applets marked with an icon in the text can be found in MyLab Statistics or via the student resource site (www.pearsonhighered.com/mathstatsresources/). Included are data sets for text examples, exercises, Statistics in Action, and Real-World cases. All data sets are available in Microsoft Excel, Minitab, SPSS, and TXT formats.

Also available with MyLab Statistics

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Plus, get anytime, anywhere access with Pearson eText

Pearson eText is an easy-to-use digital textbook available within MyLab that lets students read, highlight, take notes, and review key vocabulary all in one place. 

For instructors not using MyLab, Pearson eText can also be adopted on its own as the main course material. Learn more about Pearson eText. 

Reach every student with MyLab with Pearson eText

Teach your course your way

• Flexible platform - Your course is unique. With MyLab, your courseware can be, too. Easily tailor your course to fit your needs, whether you want to create assignments, manage multiple sections, or set prerequisites. 
• Data & Analytics -  MyLab Statistics provides instructors with a comprehensive gradebook with enhanced reporting functionality makes it easier for instructors to manage courses efficiently.
  • Performance Analytics enable instructors to see and analyze student performance across multiple courses. Based on their current course progress, individuals' performance is identified above, at, or below expectations through a variety of graphs and visualizations.
  • NEW - Now included with Performance Analytics, Early Alerts use predictive analytics to identify struggling students — even if their assignment scores are not a cause for concern. In both Performance Analytics and Early Alerts, instructors can email students individually or by group to provide feedback. 
• Preparedness - Preparedness is one of the biggest challenges in many statistics courses. Pearson offers a variety of content and course options to support students with just-in-time remediation and key-concept review as needed. 

Empower learners

• Personalized Learning - Each student learns at a different pace. Personalized learning pinpoints the precise areas your students need to practice, giving every student the support they need — when and where they need it — to be successful. Personalized learning in MyLab Statistics gives instructors the flexibility to incorporate the approach that best suits the needs of their course and students.
  • UPDATED - Accessibility - Pearson works continuously to ensure our products are as accessible as possible to all students. Currently we work toward achieving WCAG 2.0 AA for our existing products (2.1 AA for future products) and Section 508 standards, as expressed in the Pearson Guidelines for Accessible Educational Web Media. 
  • Motivation - Students are motivated to succeed when they're engaged in the learning experience and understand the relevance and power of statistics. Through online homework, students receive immediate feedback and tutorial assistance that motivates them to do more, which means they retain more knowledge, improve their test scores, and perform better in future courses. Plus, we're always adding new solutions to further engage students. 

Deliver trusted content

Your high standards deserve quality content to match them. That's why we partner with respected authors who are also subject matter experts. Together we build interactive, course-specific content to more fully engage your students. 

New and updated features of this title

• Revisions and updates to 30% of the more than 1,200 exercises include many based on current business-related studies and real data.
• Updated Statistics in Action case studies begin each chapter and are based on an actual current issue in business; 3 of the 14 cases are updated in the 14th Edition.
• Technology is updated throughout:  All screenshots from statistical software and corresponding instructions for use reflect the latest versions of the software. 
• Data-informed development of exercises: The authors analyzed aggregated student usage and performance data for the previous edition to improve the quality and quantity of exercises. All exercise sections are divided into at least 4 parts:
  • Learning the Mechanics are straightforward applications of new concepts, allowing students to test their ability to comprehend a mathematical concept or a definition. Applying the Concepts: Basic are based on applications taken from a wide variety of business journals, newspapers, and other sources. 
  • Applying the Concepts: Intermediate exercises require students to apply their knowledge of the technique presented in the section. Applying the Concepts: Advanced are more difficult real-data exercises that require students to utilize critical-thinking skills.