New Title
“Economics” is in the title to reflect the significant number of economics-oriented examples and applications, and to emphasize that book can be used in the statistics course for economics.
New Co-author
We are delighted to welcome Bruce Craig to the author team. Bruce currently is professor of statistics and director of the Statistical Consulting Service at Purdue University. Bruce also is a co-author of Introduction to the Practice of Statistics, Sxth Edition.
Structural Changes
Three chapters have undergone significant changes to the order of their content:
Probability Theory (Chapter 5)
Quality Control (Chapter 12)
Time-series Forecasting (Chapter 13)
New Cases and Examples
The authors have incorporate new real-world applications throughout the text, including
--Worldwide data on the time needed to start a business (Case 1.2)
--Predicting a movie’s U.S. box revenue based on opening weekend results (Case 11.2)
--Unemployment rates in the U.S. and Canada (chapter 1)
--The business of the NFL (Chapter 5)
--Turnaround lab testing time from a hospital emergency room (Chapter 12)
New Exercises
Over 25% of the exercises are new and over 25% include revised numvers or updated data sets, making over half of the exercises different from the previous edition. The authors emphasize the business or economics relevance of the exercises more clearly than ever.
Increased Emphasis on Computing
This edition updates and more strongly emphasizes the pivotal role of software in business and economics statistics. For example, Chapter 3 now explains how to perform randomization for samples and experiments using spreadsheets rather than relying exclusively on tables of random numbers.
Data File Names
The names of data files now suggest their content rather than the example, exercise, or table where they are used. The names are given with a marginal icon for examples and with highlighted text for exercises.