Running Themes of the Book
Throughout, the text:
· Has students look at their data before rushing to inference
· Emphasizes that where that where the data come from matters
· Asks students to state conclusions in the context of specific problems
· Focuses on the essential major concepts and most-used tools of the discipline
Real Data
Using real messy business data whenever possible, the book provides a context for tackling modern business problems, emphasizing the application of statistical concepts to business, the connections between probability and inference, and the relationship between data and decisions.
Applications
Students are continually shown the immediate relevance of what they're learning. New topics include business issues such as the value of brand loyalty, supermarket shopping habits, returns on common stocks, salary distributions, stocks and bonds, forecasting earnings, and mutual fund performance.
Unequalled Exercises and Examples
The authors’ extensive research gives the examples and exercises an unprecedented richness and real-world flavor. Exercises include such topics as research and development spending, predicting the effect of company effluents on water quality, correlations between customer characteristics and restaurant spending, and growth in grocery store size. Some of the book’s exercises (indicated with an icon) are on the Web site and CD as Applet Exercises, giving students the opportunity to manipulate data.
Pedagogy with a Real World Focus
- Case studies. Introduced in every chapter, the cases dramatize key concepts such as uncovering fraud by digital analysis and comparing the characteristics of healthy companies versus failed companies. Selected examples in the chapter refer back to the cases, and chapter-ending pedagogy includes case study exercises.
- "Beyond the Basics" sections. These sections introduce newer statistical methods that are becoming standard tools of business decision making, such as data mining and relative risk analysis.
- "Apply Your Knowledge " exercises. These exercises—found within sections throughout the text—reinforce students' learning and their grasp of statistical concepts before they finish a section. Additional exercises appear at the ends of sections and chapters.
Excel Output Throughout
In addition to Excel, the text also incorporates output from JMP, Minitab, SPSS, and the TI-83 calculator. Data sets for the book are available for all these on the book’s accompanying CD, as well as on the companion Web site.