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Statistics can't be over simplified, but it can be clarified and made fun to learn. Abranovic was inspired by his own students' positive reactions to create a textbook that succeeds by encouraging self-study, presenting new concepts in bitesize chunks, and moving the learner enjoyably toward active statistical analysis. Statistical Thinking and Data Analysis Methods for Managers includes data sets on diskettes and employs up-to-date Exploratory Data Analysis (EDA) tools, such as stem-and-leaf diagrams and box plots, without Sacrificing traditional methods and intellectual rigor. Designed for introductory courses and adaptable to graduate study, the text diminishes the need for spending classroom time on computational formulas. With its strong approach and use of global examples throughout, it will appeal to those who want heavy problem use and international applications.
All business activities are subject to variability. As a consequence, managers and business students need the ability to think statistically about how to deal with the resulting uncertainty and its effect on decision-making in management and commerce. To give them that ability, there is a growing recognition that we must change the way business statistics is taught. Traditional texts tend to focus on probability, mathematical detail, and heavy computation, and thus fail to meet the real needs of future business managers. Statistical Thinking for Managers takes a very different, very practical, approach that presents even sophisticated statistics concepts with a minimum of mathematics. It focuses on statistical thinking and discusses a range of topics that specifically apply to managers in business. Its scenario-based, interactive format and integrated use of Excel facilitate and reinforce the learning experience. Through this innovative treatment, readers will gain the ability to: " Appreciate basic statistical ideas " Use a scientific approach to problem solving " Understand the nature of variability " Use meaningful information to make informed decisions " Think in terms of processes and systems and develop strategies for process improvement Designed as an introductory text in business statistics, Statistical Thinking for Managers challenges the way students look at business problems and issues. It shows them the importance of statistics in all aspects of business and equips them with the skills they need to make informed and effective decisions.
Many texts are excellent sources of knowledge about individual statistical tools, but the art of data analysis is about choosing and using multiple tools. Instead of presenting isolated techniques, this text emphasizes problem solving strategies that address the many issues arising when developing multivariable models using real data and not standard textbook examples. It includes imputation methods for dealing with missing data effectively, methods for dealing with nonlinear relationships and for making the estimation of transformations a formal part of the modeling process, methods for dealing with "too many variables to analyze and not enough observations," and powerful model validation techniques based on the bootstrap. This text realistically deals with model uncertainty and its effects on inference to achieve "safe data mining".
Introducing the concepts and methods of modern statistics with an emphasis on computer assisted data analysis, the book focuses on interpretation of results rather than their computation. Review of probability, collecting data, summarizing and exploring data, sampling distributions of statistics, basic concepts of inference, linear regression and correlation, analysis of single factor and multifactor Experiments.
How statistical thinking and methodology can help you make crucial business decisions Straightforward and insightful, Statistical Thinking: Improving Business Performance, Second Edition, prepares you for business leadership by developing your capacity to apply statistical thinking to improve business processes. Unique and compelling, this book shows you how to derive actionable conclusions from data analysis, solve real problems, and improve real processes. Here, you'll discover how to implement statistical thinking and methodology in your work to improve business performance. Explores why statistical thinking is necessary and helpful Provides case studies that illustrate how to integrate several statistical tools into the decision-making process Facilitates and encourages an experiential learning environment to enable you to apply material to actual problems With an in-depth discussion of JMP® software, the new edition of this important book focuses on skills to improve business processes, including collecting data appropriate for a specified purpose, recognizing limitations in existing data, and understanding the limitations of statistical analyses.
New edition (since 1983) of a textbook for business majors.
Apply statistics in business to achieve performance improvement Statistical Thinking: Improving Business Performance, 3rd Edition helps managers understand the role of statistics in implementing business improvements. It guides professionals who are learning statistics in order to improve performance in business and industry. It also helps graduate and undergraduate students understand the strategic value of data and statistics in arriving at real business solutions. Instruction in the book is based on principles of effective learning, established by educational and behavioral research. The authors cover both practical examples and underlying theory, both the big picture and necessary details. Readers gain a conceptual understanding and the ability to perform actionable analyses. They are introduced to data skills to improve business processes, including collecting the appropriate data, identifying existing data limitations, and analyzing data graphically. The authors also provide an in-depth look at JMP software, including its purpose, capabilities, and techniques for use. Updates to this edition include: A new chapter on data, assessing data pedigree (quality), and acquisition tools Discussion of the relationship between statistical thinking and data science Explanation of the proper role and interpretation of p-values (understanding of the dangers of “p-hacking”) Differentiation between practical and statistical significance Introduction of the emerging discipline of statistical engineering Explanation of the proper role of subject matter theory in order to identify causal relationships A holistic framework for variation that includes outliers, in addition to systematic and random variation Revised chapters based on significant teaching experience Content enhancements based on student input This book helps readers understand the role of statistics in business before they embark on learning statistical techniques.
A friendly and accessible approach to applying statistics in the real world With an emphasis on critical thinking, The Art of Data Analysis: How to Answer Almost Any Question Using Basic Statistics presents fun and unique examples, guides readers through the entire data collection and analysis process, and introduces basic statistical concepts along the way. Leaving proofs and complicated mathematics behind, the author portrays the more engaging side of statistics and emphasizes its role as a problem-solving tool. In addition, light-hearted case studies illustrate the application of statistics to real data analyses, highlighting the strengths and weaknesses of commonly used techniques. Written for the growing academic and industrial population that uses statistics in everyday life, The Art of Data Analysis: How to Answer Almost Any Question Using Basic Statistics highlights important issues that often arise when collecting and sifting through data. Featured concepts include: • Descriptive statistics • Analysis of variance • Probability and sample distributions • Confidence intervals • Hypothesis tests • Regression • Statistical correlation • Data collection • Statistical analysis with graphs Fun and inviting from beginning to end, The Art of Data Analysis is an ideal book for students as well as managers and researchers in industry, medicine, or government who face statistical questions and are in need of an intuitive understanding of basic statistical reasoning.
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.
Provides worked-out solutions to odd-numbered exercises.