Business students need the ability to think statistically about how to deal with uncertainty and its effect on decision-making in business and management. Traditional statistics courses and textbooks tend to focus on probability, mathematical detail, and heavy computation, and thus fail to meet the needs of future managers. Statistical Thinking in Business, Second Edition responds to the growing recognition that we must change the way business statistics is taught. It shows how statistics is important in all aspects of business and equips students with the skills they need to make sensible use of data and other information. The authors take an interactive, scenario-based approach and use almost no mathematical formulas, opting to use Excel for the technical work. This allows them to focus on using statistics to aid decision-making rather than how to perform routine calculations. New in the Second Edition: A completely revised chapter on forecasting Re-arrangement of the material on data presentation with the inclusion of histograms and cumulative line plots A more thorough discussion of the analysis of attribute data Coverage of variable selection and model building in multiple regression End of chapter summaries More end of chapter problems A variety of case studies throughout the book The second edition also comes with a wealth of ancillary materials provided on a CD-ROM packaged with the book. These include automatically-marked multiple-choice questions, answers to questions in the text, data sets, Excel experiments and demonstrations, an introduction to Excel, and the StiBstat Add-In for stem and leaf plots, box plots, distribution plots, control charts and summary statistics. Solutions to end-of-chapter exercises and powerpoint slides for lecturers are available directly from the publisher.

How statistical thinking and methodology can help you make crucial business decisions Straightforward and insightful, Statistical Thinking: Improving Business Performance, Second Edition, prepares you for business leadership by developing your capacity to apply statistical thinking to improve business processes. Unique and compelling, this book shows you how to derive actionable conclusions from data analysis, solve real problems, and improve real processes. Here, you'll discover how to implement statistical thinking and methodology in your work to improve business performance. Explores why statistical thinking is necessary and helpful Provides case studies that illustrate how to integrate several statistical tools into the decision-making process Facilitates and encourages an experiential learning environment to enable you to apply material to actual problems With an in-depth discussion of JMP® software, the new edition of this important book focuses on skills to improve business processes, including collecting data appropriate for a specified purpose, recognizing limitations in existing data, and understanding the limitations of statistical analyses.

Business students need the ability to think statistically about how to deal with uncertainty and its effect on decision-making in business and management. Traditional statistics courses and textbooks tend to focus on probability, mathematical detail, and heavy computation, and thus fail to meet the needs of future managers. Statistical Thinking in

During the past decade there has been an explosion in computation and information technology. With it have come vast amounts of data in a variety of fields such as medicine, biology, finance, and marketing. The challenge of understanding these data has led to the development of new tools in the field of statistics, and spawned new areas such as data mining, machine learning, and bioinformatics. Many of these tools have common underpinnings but are often expressed with different terminology. This book describes the important ideas in these areas in a common conceptual framework. While the approach is statistical, the emphasis is on concepts rather than mathematics. Many examples are given, with a liberal use of color graphics. It should be a valuable resource for statisticians and anyone interested in data mining in science or industry. The book’s coverage is broad, from supervised learning (prediction) to unsupervised learning. The many topics include neural networks, support vector machines, classification trees and boosting---the first comprehensive treatment of this topic in any book. This major new edition features many topics not covered in the original, including graphical models, random forests, ensemble methods, least angle regression & path algorithms for the lasso, non-negative matrix factorization, and spectral clustering. There is also a chapter on methods for “wide” data (p bigger than n), including multiple testing and false discovery rates. Trevor Hastie, Robert Tibshirani, and Jerome Friedman are professors of statistics at Stanford University. They are prominent researchers in this area: Hastie and Tibshirani developed generalized additive models and wrote a popular book of that title. Hastie co-developed much of the statistical modeling software and environment in R/S-PLUS and invented principal curves and surfaces. Tibshirani proposed the lasso and is co-author of the very successful An Introduction to the Bootstrap. Friedman is the co-inventor of many data-mining tools including CART, MARS, projection pursuit and gradient boosting.

Since the first athletic events found a fan base, sports and statistics have always maintained a tight and at times mythical relationship. As a way to relay the telling of a game's drama and attest to the prodigious powers of the heroes involved, those reporting on the games tallied up the numbers that they believe best described the action and bes

How statistical thinking and methodology can help you make crucial business decisions Straightforward and insightful, Statistical Thinking: Improving Business Performance, Second Edition, prepares you for business leadership by developing your capacity to apply statistical thinking to improve business processes. Unique and compelling, this book shows you how to derive actionable conclusions from data analysis, solve real problems, and improve real processes. Here, you'll discover how to implement statistical thinking and methodology in your work to improve business performance. Explores why statistical thinking is necessary and helpful Provides case studies that illustrate how to integrate several statistical tools into the decision-making process Facilitates and encourages an experiential learning environment to enable you to apply material to actual problems With an in-depth discussion of JMP® software, the new edition of this important book focuses on skills to improve business processes, including collecting data appropriate for a specified purpose, recognizing limitations in existing data, and understanding the limitations of statistical analyses.

Fundamentals of Business Statistics is intended to serve as a core textbook for undergraduate students of BBA, BCA, B Com and CA, ICWA and those who need to understand the basic concepts of business statistics and apply results directly to real-life business problems. The book also suits the requirement of students of AMIE, who need both theoretical and practical knowledge of business statistics. The second edition has been extensively revised with the objective of enhancing and strengthening the conceptual, as well as practical knowledge of readers about various techniques of business statistics. Its easy-to-understand approach will enable readers to develop the required skills and apply statistical techniques to decision-making problems. With a completely new look and feel, this book will facilitate the teaching of business statistics techniques as well as enhance the learning experience for students. New in This Edition • Completely revised and reorganized text to make explanations more cogent through relevant and interesting examples. • Large number of new business-oriented solved as well as practice problems representing the various business statistics techniques. • Explanations well illustrated with numerous interesting and varied business-oriented examples. • Pedagogical features like Conceptual Questions, Self Practice Problems with Hints and Answers. • Complete conformity to the latest trends of questions appearing in universities and professional examinations.