'Why do I need to know statistics?' Bowerman, Business Statistics in Practice, Third Canadian Edition provides students with understandable and practical explanations of business statistics concepts. Bowerman demonstrates the importance of how statistical analysis is used in business. It acquaints students, through real or realistic examples, on how to apply this knowledge and the use of concepts in support of business decision-making and overall business improvement. Bowerman also provides students with a wealth of opportunities to practice business statistics concepts with its wide range of exercises both within and at the end of each chapter.
Chapter 1: An Introduction to Business Statistics
Chapter 2: Descriptive Statistics
Chapter 3: Probability
Chapter 4: Discrete Random Variables
Chapter 5: Continuous Random Variables
Chapter 6: Sampling Distributions
Chapter 7: Hypothesis Testing
Chapter 8: Comparing Population Means and Variances Using t Tests and F Ratios
Chapter 9: Confidence Intervals
Chapter 10: Experimental Design and Analysis of Variance
Chapter 11: Correlation Coefficient and Simple Linear Regression
Chapter 12: Multiple Regression
Chapter 13: Nonparametric Methods
Chapter 14: Chi-Square Tests
Chapter 15: Decision Theory
Chapter 16: Time Series Forecasting
Appendix A Statistical Tables
Appendices available in Connect:
Appendix B Counting Rules
Appendix C (Part 1): The Normal Probability Plot;
(Part 2): Properties of the Mean and the Variance of a Random
Variable, and the Covariance;
(Part 3): Derivations of the Mean and Variance of x and p
Appendix D: Holt-Winters' Models
Appendix E (Part 1): Stratified Random Sampling;
(Part 2): Cluster Sampling and Ratio Estimation
Appendix F: Using Matrix Algebra to Perform Regression Calculations
Appendix G: The Regression Approach to Two-Way Analysis of Variance
Appendix H: Factor Analysis, Cluster Analysis, and Multidimensional Scaling
Appendix I: The Box-Jenkins Methodology
Appendix J: Individual Charts and c Charts
Appendix K: Model Building and Model Diagnostics
Appendix L: Process Improvement Using Control Charts
New to this Edition
NEW " Pedagogical Features -
'Theory to Practice' boxed feature - shows students how statistics is used in a practical way by different business units - i.e. marketing, sales, and finance.
'Roadblock' boxed feature - provides tips and tricks for students becoming accustomed to new material.
NEW " Reduced number of Chapters - from 17 to 16 Chapters in Third Canadian Edition with 2 new Appendices-Appendix K-Model Building and Model Diagnostics & Appendix L - Process Improvement Using Control Charts (Previously Chapter 17)
NEW " Reorganized Chapters - Chapter 7 & Chapter 8 are completely reorganized?z tests are in Chapter 7 and t tests are in Chapter 8.
NEW " Continuing examples - each time a continuing example is revisited, there is no need to flip back to previous pages or computer outputs, as all of the necessary data and information are included in the current discussion.
NEW - exercises and problems along with updated and refreshed examples, data sets and end-of-chapter material.
NEW " LearnSmart & SmartBook adaptive learning technology within Connect " McGraw-Hill's web-based assignment and assessment platform. Proven to increase grades, Connect eBook with LearnSmart and SmartBook is available to package with the Bowerman print text, or available to purchase as a digital standalone option saving students money.
Canadian content. - Relevant Canadian content, cases, exercises and data sets, helps to engage students and reinforce the importance of using statistical techniques in the Canadian business environment.
Business improvement emphasis. - Bowerman motivates students by showing how the use of statistical techniques in support of business decision-making helps to improve business processes. The concept of making business decision based on data is critical in understanding the role that statistics will take in their professional careers.
Depth and breadth of exercises.- One of the primary challenges students face in learning business statistics is their need to get enough "good" questions with which to practice the concepts. Bowerman offers a wealth of exercises that vary in approach and level. "Concepts" and "Methods and Applications" questions can be found at the end of each section, while Supplementary Exercises at the end of each chapter include problems and internet exercises.
Engaging Pedagogy " written with the students' needs in mind with clear and understandable explanations and use of real-world examples that business students can relate. Examples include - Chapter Introductions, continuous Examples and Business Improvement Conclusions that introduce and demonstrate new concepts, updated and colourful Figures and Tables, numerous exercises within the text and in Connect.
Excel coverage. - Recognizing the importance of spreadsheets and statistical software due to its usage in the real-world, the authors integrate Excel output throughout the text. Bowerman also offers a robust Excel add-on MegaStat that allows the student to focus on analysis rather than mastering the Excel software.