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The 8th edition of Lind/Marchal/Wathen: “Basic Statistics for Business and Economics”, is a step-by-step approach that enhances student performance, accelerates preparedness and improves motivation for the student taking a business statistics course. The main objective of the text is to provide students majoring in all fields of business administration with an introductory survey of the many applications of descriptive and inferential statistics. The relevant approach taken in this text relates to the college students today as they will receive the information that is important to them in this class as well as their future careers. Understanding the concepts, seeing and doing plenty of examples and exercises, and comprehending the application of statistical methods in business and economics are the focus of this book.
Revision of Learning Objectives: The learning objectives have been revised to be more specific while the authors have added new ones, identified them in the margin, and keyed them directly to sections within the chapter.
- New Examples: The new examples include more variables and more observations. It presents a realistic business situation. It is also used later in the text.
- New Sections: New sections have been added in various chapters:
- Chapter 9 has been reorganized to make it more teachable and improve the flow of the topics.
- Chapter 13 has been reorganized and includes a test of hypothesis for the slope of the regression coefficient.
- Chapter 15 now includes a graphic test for normality and the chisquare test for normality.
- Excel 2010: New exercises and examples use Excel 2010 screenshots and the latest version of Minitab.
- There are new Excel 2010 software commands and updated Minitab commands at the ends of chapters.
- New Data and Exercises
- Exercises have been reviewed within and at the ends of the chapters. We have added many new or revised exercises throughout. You can still find and assign your favorites that have worked well, or you can introduce fresh examples.
- The exercises that contain data files are identified by an icon for easy identification.
- The Data Exercises at the end of each chapter have been revised.
- The baseball data has been updated to the most current completed season,2010. A new business application has been added that refers to the use and maintenance of the school bus fleet of the Buena School District.
- Chapter Learning Objectives: Each chapter begins with a set of learning objectives designed to provide focus for the chapter and motivate student learning. These objectives, located in the margins next to the topic, indicate what the student should be able to do after completing the chapter.
- Introduction to the Topic: Each chapter starts with a review of the important concepts of the previous chapter and provides a link to the material in the current chapter.
- Example/Solution: After important concepts are introduced, a solved example is given to provide a how-to illustration for students and to show a relevant business or economics-based application that helps answer the question, “What will I use this for?” All examples provide a realistic scenario or application and make the math size and scale reasonable for introductory students.
- Self-Reviews: Self-Reviews are interspersed throughout each chapter and closely patterned after the preceding Examples. They help students monitor their progress and provide immediate reinforcement for that particular technique.
- Statistics in Action: Statistics in Action articles are scattered throughout the text, usually about two per chapter. They provide unique and interesting applications and historical insights in the field of statistics.
- Chapter Exercises: The end-of-chapter exercises are the most challenging and integrate the chapter concepts. The answers and worked-out solutions for all odd-numbered exercises appear at the end of the text. For exercises with more than 20 observations, the data can be found on the text’s website. These files are formatted so that they can be opened in Excel and Minitab.
- Data Set Exercises: The last several exercises at the end of each chapter are based on three large data sets. These data sets are printed in Appendix A in the text and are also on the text’s website. These data sets present the students with real-world and more complex applications.
- Practice Test: The Practice Test that appears at the end of each chapteris intended to give students an idea of content that might appear on a test and how the test might be structured. The Practice Test includes both objective questions and problems covering the material studied in the chapter.
1. What is Statistics?
2. Describing Data: Frequency Tables, Frequency Distributions and Graphic Presentations
3. Describing Data: Numerical Measures
4. Describing Data: Displaying and Exploring Data
5. A Survey of Probability Concepts
6. Discrete Probability Distributions
7. Continuous Probability Distributions
8. Sampling Methods and the Central Limit Theorem
9. Estimation and Confidence Intervals
10. One-Sample Tests of Hypothesis
11.Two Samples Tests of Hypothesis
12. Analysis of Variance
13. Correlation and Linear Regression
14. Multiple Regression and Correlation Analysis
15. Nonparametric Methods: Goodness-of-Fit Tests
Appendices: Data Sets, Tables, Answers
Answers to Odd-Numbered Chapter Exercises and Chapter Tests