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Fundamentals of Business Statistics is intended to serve as a core textbook for undergraduate students of BBA, BCA, B Com and CA, ICWA and those who need to understand the basic concepts of business statistics and apply results directly to real-life business problems. The book also suits the requirement of students of AMIE, who need both theoretical and practical knowledge of business statistics. The second edition has been extensively revised with the objective of enhancing and strengthening the conceptual, as well as practical knowledge of readers about various techniques of business statistics. Its easy-to-understand approach will enable readers to develop the required skills and apply statistical techniques to decision-making problems. With a completely new look and feel, this book will facilitate the teaching of business statistics techniques as well as enhance the learning experience for students. New in This Edition • Completely revised and reorganized text to make explanations more cogent through relevant and interesting examples. • Large number of new business-oriented solved as well as practice problems representing the various business statistics techniques. • Explanations well illustrated with numerous interesting and varied business-oriented examples. • Pedagogical features like Conceptual Questions, Self Practice Problems with Hints and Answers. • Complete conformity to the latest trends of questions appearing in universities and professional examinations.
In this edition, efforts have been made to assist readers in converting data into useful information that can be used by decision-makers in making more thoughtful, information-based decisions.
This book presents a comprehensive and systematic introduction to transforming process-oriented data into information about the underlying business process, which is essential for all kinds of decision-making. To that end, the authors develop step-by-step models and analytical tools for obtaining high-quality data structured in such a way that complex analytical tools can be applied. The main emphasis is on process mining and data mining techniques and the combination of these methods for process-oriented data. After a general introduction to the business intelligence (BI) process and its constituent tasks in chapter 1, chapter 2 discusses different approaches to modeling in BI applications. Chapter 3 is an overview and provides details of data provisioning, including a section on big data. Chapter 4 tackles data description, visualization, and reporting. Chapter 5 introduces data mining techniques for cross-sectional data. Different techniques for the analysis of temporal data are then detailed in Chapter 6. Subsequently, chapter 7 explains techniques for the analysis of process data, followed by the introduction of analysis techniques for multiple BI perspectives in chapter 8. The book closes with a summary and discussion in chapter 9. Throughout the book, (mostly open source) tools are recommended, described and applied; a more detailed survey on tools can be found in the appendix, and a detailed code for the solutions together with instructions on how to install the software used can be found on the accompanying website. Also, all concepts presented are illustrated and selected examples and exercises are provided. The book is suitable for graduate students in computer science, and the dedicated website with examples and solutions makes the book ideal as a textbook for a first course in business intelligence in computer science or business information systems. Additionally, practitioners and industrial developers who are interested in the concepts behind business intelligence will benefit from the clear explanations and many examples.
An introductory stats textbook that emphasizes statistical concepts and applications. It shows how to apply statistical methods in practical business situations. It shows how stats contribute to improving the quality of products and services. It also includes instruction for data analysis based on Microsoft Excel and MINITAB.
Conventional statistical methods have a very serious flaw. They routinely miss differences among groups or associations among variables that are detected by more modern techniques, even under very small departures from normality. Hundreds of journal articles have described the reasons standard techniques can be unsatisfactory, but simple, intuitive explanations are generally unavailable. Situations arise where even highly nonsignificant results become significant when analyzed with more modern methods. Without assuming the reader has any prior training in statistics, Part I of this book describes basic statistical principles from a point of view that makes their shortcomings intuitive and easy to understand. The emphasis is on verbal and graphical descriptions of concepts. Part II describes modern methods that address the problems covered in Part I. Using data from actual studies, many examples are included to illustrate the practical problems with conventional procedures and how more modern methods can make a substantial difference in the conclusions reached in many areas of statistical research. The second edition of this book includes a number of advances and insights that have occurred since the first edition appeared. Included are new results relevant to medians, regression, measures of association, strategies for comparing dependent groups, methods for dealing with heteroscedasticity, and measures of effect size.
Practical Business Statistics, 5/e was written in response to instructors not wanting a formula driven, mathematically encyclopedic book. The use of computer applications means some topics no longer require coverage in detail. This allows future managers to know how to use and understand statistics. The text does this by using examples with real data that relate to the functional areas of business such as finance, accounting, and marketing. It de-emphasizes the theoretical, and presents the material in a well-written, easy style designed to motivate students. The emphasis is on understanding and applications as opposed to mathematical precision and formula detail.
For one- or two-semester introductory courses in business statistics. Eliminate the intimidation factor from learning statistics for business Robert Donnelly's Business Statistics was written in a conversational tone designed to reduce the level of anxiety that many business students experience when taking a statistics course. The 3rd Edition maintains the author's successful and straightforward approach that explains each concept and why it's important, directly to students. Through an abundance of comments in the margins that clarify specific topics, a variety of applications, and Your Turn practice opportunities in each chapter, students see business statistics in action -- both in the classroom and the world around them. Also available as a Pearson eText or packaged with MyLab Business Statistics Pearson eText is a simple-to-use, mobile-optimized, personalized reading experience that can be adopted on its own as the main course material. It lets students highlight, take notes, and review key vocabulary all in one place, even when offline. Seamlessly integrated videos and other rich media engage students and give them access to the help they need, when they need it. Educators can easily share their own notes with students so they see the connection between their eText and what they learn in class -- motivating them to keep reading, and keep learning. MyLab(tm) combines trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student. Optional: one sentence for discipline-specific benefit can go here. If you would like to purchase both the physical text and MyLab Business Statistics, search for: 0135229936 / 9780135229934 Business Statistics Plus MyLab Statistics with Pearson eText -- Access Card Package, 3/e Package consists of: 0134685261 / 9780134685267 Business Statistics 0134782925 / 9780134782928 MyLab Statistics with Pearson eText -- Standalone Access Card -- for Business Statistics Note: You are purchasing a standalone book; Pearson eText and MyLab do not come packaged with this content. Students, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information.
(Black & White version) Fundamentals of Business was created for Virginia Tech's MGT 1104 Foundations of Business through a collaboration between the Pamplin College of Business and Virginia Tech Libraries. This book is freely available at: http://hdl.handle.net/10919/70961 It is licensed with a Creative Commons-NonCommercial ShareAlike 3.0 license.
This is the story of a breakthrough in competency-based quantitative business education. Begun in 1991 as part of a college-wide effort to revolutionize business education instruction. The foundations of the new approach were the following four competencies: Teamwork, Communication, Creative Thinking and Adapting to Change. The introductory quantitative methods course occupies a critical position in a competency-based curriculum. An effective "quant methods" course must challenge students to enlist quantitative techniques to solve business problems and establish a lifelong link between data analysis and business decision making. Like many other business programs, we formerly gave responsibility for teaching business mathematics, descriptive statistics, and probability to departments outside the business college. As elsewhere, we were deeply concerned that business math and basic stat courses were generally ill-suited to our business curriculum needs. For example, out business curriculum made little use of material from the business calculus course required in our program. We also discovered that anxiety about these quantitative courses were so high that many students postponed taking them until right before graduation. By requiring a course whose material was seldom applied, the not so subtle and erroneous message was sent to students that fundamental math, stat, and probability is not useful in business. For competency-based education to be successful, quantitative learning must be effectively linked to the rest of the curriculum. First, only quantitative tools directly useful to solving fundamental business problems were to be included in the new course. To obtain this core of tools, we surveyed our business faculty to identify critical methods and concepts most needed by students in each major business areas. Next, we designed an entirely new course around this essential core of quantitative tools. Finally, a revolutionary textbook was developed that fosters quantitative learning through the four business competencies and emphasizes these core methods and concepts. After several years of classroom trials and student feedback, Fundamentals of Quantitative Business Methods is the end result of this process. This text, now in its third edition, helps students identify how each of the four competencies relates to mathematical and statistical reasoning and business modeling techniques. Some problems and cases may also be used to develop teamwork skills through cooperative learning. By working and studying in teams, students can better assess how well they understand the material and can help each other to learn critical problem-solving skills.