Statistics for Business and Economics, 2ed
ISBN: 9788126570942
508 pages
eBook also available for institutional users
Description
Statistical analysis is inevitable for decision making in business, economics, and other fields of scientific enquiry. Strategies for optimum utilization of resources need to be backed by appropriate analysis. Also, insightful statistical analysis is becoming increasingly important in today's world of information load. This book is an attempt to present the understanding of the statistical tools in an easy, interesting, and useful manner and to equip the readers with knowledge of what, why, and how to use the wide-ranging statistical tools. The book not only focuses on the conceptual understanding of the statistical methods, but also provides sufficient exposure through case studies along with solved examples.
Preface
About the Author
Acknowledgments
Chapter 1: Introduction to Statistics
Introduction
Statistics: Definition
Types of Data
Statistical Software for Analysis: Microsoft Excel and IBM SPSS
Primary Data and Secondary Data 10
Applications of Statistics in Business and Economics
Presenting Data in Business
The Numeric Data
Continuous Frequency Distribution
Class Interval
Graphic Presentation of Data
Graphic Presentation of Categorical Data
Cross-Tabulation
Summary
Key Terms
Multiple-Choice Questions
Assignments
Case Study 1
Case Study 2
Chapter 2: Descriptive Statistical Analysis
Introduction
Measures of Central Tendency
Measures of Dispersion
Measure of Skewness
Symmetrical Distribution
Kurtosis
Descriptive Statistics Using Excel
Summary
Key Terms
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 3: Probability Theory and Distributions
Probability Theory
Fundamental Concepts of Probability
Definitions of Probability
Laws of Probability
Bayes Theorem
Random Variable
Probability Distribution
Theoretical Probability Distribution
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 4: Sampling Theory and Sampling Distribution
Introduction to Sampling Theory
Probabilistic Sampling Techniques
Sampling Error and Non-Sampling Error
Central Limit Theorem
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 5: Hypothesis Testing—Large Sample Tests
Introduction to Hypothesis Testing
Null Hypothesis (H0)
Hypothesis Testing for Large Samples
Test for Single Proportion
Test for Difference of Proportions
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Case Study 2
Chapter 6: Hypothesis Testing—Small Sample Tests
Introduction
t-Test
Applications of t-Test
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 7: Analysis of Variance
Introduction to Analysis of Variance
Two-Way Factorial ANOVA Design with SPSS
Multivariate Analysis of Variance
Summary
Multiple-Choice Questions
Assignments
Chapter 8: Chi-Square Test and Its Applications
Introduction
Applications of the c2 Test
Testing the Goodness of Fit
Multiple-Choice Questions
Assignments
Chapter 9: Nonparametric Test
Introduction
Testing the Normality of Data
Sign Test
Wilcoxon–Mann–Whitney Test
Wilcoxon Signed Rank Test
The Kruskal–Wallis (H-Test)
Summary
Multiple-Choice Questions
Assignments
Chapter 10: Correlation Analysis
Introduction
Types of Correlation
Simple Correlation
Partial Correlation
Multiple Correlation
Chapter 11: Regression Analysis
Introduction to Regression Analysis
The Simple Regression Model
Multiple Regression Analysis
Stepwise Regression Analysis
Multicollinearity
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 12: Logistic Regression Analysis
Introduction
Assumptions of Binary Logistic Regression
Multinomial Logistic Regression
Logistic Regression vs. Discriminant Analysis
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 13: Business Forecasting
Introduction
Qualitative Forecasting Methods
Quantitative Forecasting Methods
Forecast Accuracy
Smoothing Techniques
Analysis of Seasonal Variations
References
Summary
Multiple-Choice Questions
Assignments
Chapter 14: Statistical Quality Control
Introduction
Few Basic Concepts
Control Charts
Control Charts for Attribute Data
Process Capability
Summary
Multiple-Choice Questions
Assignments
Case Study 1
Chapter 15: Decision Analysis
Introduction
Payoff Table
Decision Making Under Certainty
Decision Making Under Uncertainty
Decision Making Under Risk
Decision Making with Revised Probabilities
Decision Trees
Summary
Multiple-Choice Questions
Assignments
Chapter 16: Index Numbers
Introduction
Construction of Index Numbers
Popular Indexes in India
Summary
Multiple-Choice Questions
Assignments
Appendix: Statistical Tables
Index