(BQ) Part 1 book Essentials of statistics for business and economics has contents: Data and statistics; descriptive statistics - tabular and graphical presentations; descriptive statistics - numerical measures; introduction to probability; discrete probability distributions,...and other contents.
CUMULATIVE PROBABILITIES FOR THE STANDARD NORMAL DISTRIBUTION Entries in this table give the area under the curve to the left of the z value For example, for z = –.85, the cumulative probability is 1977 Cumulative probability z z 00 01 02 03 04 05 06 07 08 09 Ϫ3.0 0013 0013 0013 0012 0012 0011 0011 0011 0010 0010 Ϫ2.9 Ϫ2.8 Ϫ2.7 Ϫ2.6 Ϫ2.5 0019 0026 0035 0047 0062 0018 0025 0034 0045 0060 0018 0024 0033 0044 0059 0017 0023 0032 0043 0057 0016 0023 0031 0041 0055 0016 0022 0030 0040 0054 0015 0021 0029 0039 0052 0015 0021 0028 0038 0051 0014 0020 0027 0037 0049 0014 0019 0026 0036 0048 Ϫ2.4 Ϫ2.3 Ϫ2.2 Ϫ2.1 Ϫ2.0 0082 0107 0139 0179 0228 0080 0104 0136 0174 0222 0078 0102 0132 0170 0217 0075 0099 0129 0166 0212 0073 0096 0125 0162 0207 0071 0094 0122 0158 0202 0069 0091 0119 0154 0197 0068 0089 0116 0150 0192 0066 0087 0113 0146 0188 0064 0084 0110 0143 0183 Ϫ1.9 Ϫ1.8 Ϫ1.7 Ϫ1.6 Ϫ1.5 0287 0359 0446 0548 0668 0281 0351 0436 0537 0655 0274 0344 0427 0526 0643 0268 0336 0418 0516 0630 0262 0329 0409 0505 0618 0256 0322 0401 0495 0606 0250 0314 0392 0485 0594 0244 0307 0384 0475 0582 0239 0301 0375 0465 0571 0233 0294 0367 0455 0559 Ϫ1.4 Ϫ1.3 Ϫ1.2 Ϫ1.1 Ϫ1.0 0808 0968 1151 1357 1587 0793 0951 1131 1335 1562 0778 0934 1112 1314 1539 0764 0918 1093 1292 1515 0749 0901 1075 1271 1492 0735 0885 1056 1251 1469 0721 0869 1038 1230 1446 0708 0853 1020 1210 1423 0694 0838 1003 1190 1401 0681 0823 0985 1170 1379 Ϫ.9 Ϫ.8 Ϫ.7 Ϫ.6 Ϫ.5 1841 2119 2420 2743 3085 1814 2090 2389 2709 3050 1788 2061 2358 2676 3015 1762 2033 2327 2643 2981 1736 2005 2296 2611 2946 1711 1977 2266 2578 2912 1685 1949 2236 2546 2877 1660 1922 2206 2514 2843 1635 1894 2177 2483 2810 1611 1867 2148 2451 2776 Ϫ.4 Ϫ.3 Ϫ.2 Ϫ.1 Ϫ.0 3446 3821 4207 4602 5000 3409 3783 4168 4562 4960 3372 3745 4129 4522 4920 3336 3707 4090 4483 4880 3300 3669 4052 4443 4840 3264 3632 4013 4404 4801 3228 3594 3974 4364 4761 3192 3557 3936 4325 4721 3156 3520 3897 4286 4681 3121 3483 3859 4247 4641 CUMULATIVE PROBABILITIES FOR THE STANDARD NORMAL DISTRIBUTION Cumulative probability Entries in the table give the area under the curve to the left of the z value For example, for z = 1.25, the cumulative probability is 8944 z z 00 01 02 03 04 05 06 07 08 09 5000 5398 5793 6179 6554 5040 5438 5832 6217 6591 5080 5478 5871 6255 6628 5120 5517 5910 6293 6664 5160 5557 5948 6331 6700 5199 5596 5987 6368 6736 5239 5636 6026 6406 6772 5279 5675 6064 6443 6808 5319 5714 6103 6480 6844 5359 5753 6141 6517 6879 6915 7257 7580 7881 8159 6950 7291 7611 7910 8186 6985 7324 7642 7939 8212 7019 7357 7673 7967 8238 7054 7389 7704 7995 8264 7088 7422 7734 8023 8289 7123 7454 7764 8051 8315 7157 7486 7794 8078 8340 7190 7517 7823 8106 8365 7224 7549 7852 8133 8389 1.0 1.1 1.2 1.3 1.4 8413 8643 8849 9032 9192 8438 8665 8869 9049 9207 8461 8686 8888 9066 9222 8485 8708 8907 9082 9236 8508 8729 8925 9099 9251 8531 8749 8944 9115 9265 8554 8770 8962 9131 9279 8577 8790 8980 9147 9292 8599 8810 8997 9162 9306 8621 8830 9015 9177 9319 1.5 1.6 1.7 1.8 1.9 9332 9452 9554 9641 9713 9345 9463 9564 9649 9719 9357 9474 9573 9656 9726 9370 9484 9582 9664 9732 9382 9495 9591 9671 9738 9394 9505 9599 9678 9744 9406 9515 9608 9686 9750 9418 9525 9616 9693 9756 9429 9535 9625 9699 9761 9441 9545 9633 9706 9767 2.0 2.1 2.2 2.3 2.4 9772 9821 9861 9893 9918 9778 9826 9864 9896 9920 9783 9830 9868 9898 9922 9788 9834 9871 9901 9925 9793 9838 9875 9904 9927 9798 9842 9878 9906 9929 9803 9846 9881 9909 9931 9808 9850 9884 9911 9932 9812 9854 9887 9913 9934 9817 9857 9890 9913 9936 2.5 2.6 2.7 2.8 2.9 9938 9953 9965 9974 9981 9940 9955 9966 9975 9982 9941 9956 9967 9976 9982 9943 9957 9968 9977 9983 9945 9959 9969 9977 9984 9946 9960 9970 9978 9984 9948 9961 9971 9979 9985 9949 9962 9972 9979 9985 9951 9963 9973 9980 9986 9952 9964 9974 9981 9986 3.0 9986 9987 9987 9988 9988 9989 9989 9989 9990 9990 ESSENTIALS OF STATISTICS FOR BUSINESS AND ECONOMICS ∞e David R Anderson University of Cincinnati Dennis J Sweeney University of Cincinnati Thomas A Williams Rochester Institute of Technology Dedicated to Marcia, Cherri, and Robbie Essentials of Statistics for Business and Economics, Fifth Edition David R Anderson, Dennis J Sweeney, Thomas A Williams VP/Editorial Director: Jack W Calhoun Manager, Editorial Media: John Barans Art Director: Stacy Jenkins Shirley Editor-in-Chief: Alex von Rosenberg Technology Project Manager: John Rich Internal Designers: Michael Stratton/cmiller design Senior Acquisitions Editor: Charles McCormick, Jr Senior Manufacturing Coordinator: Diane Gibbons Cover Designer: Paul Neff Developmental Editor: Maggie Kubale Production House: ICC Macmillan Inc Cover Images: © Brand X Images/Getty Images Senior Marketing Manager: Larry Qualls Printer: RR Donnelley, Inc Willard, OH Photography Manager: John Hill ALL RIGHTS RESERVED No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means— graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution or information storage and retrieval systems, or in any other manner— without the written permission of the publisher Library of Congress Control Number: 2007926821 Marketing Communications Manager: Libby Shipp Content Project Manager: Patrick Cosgrove COPYRIGHT © 2009, 2006 Thomson South-Western, a part of The Thomson Corporation Thomson, the Star logo, and South-Western are trademarks used herein under license Printed in the United States of America 09 08 07 06 Student Edition: ISBN 13: 978-0-324-65321-2 ISBN 10: 0-324-65321-2 Student Edition with CD: ISBN 13: 978-0-324-56860-8 ISBN 10: 0-324-56860-6 For permission to use material from this text or product, submit a request online at http://www.thomsonrights.com For more information about our products, contact us at: Thomson Learning Academic Resource Center 1-800-423-0563 Thomson Higher Education 5191 Natorp Boulevard Mason, OH 45040 USA Brief Contents Preface xii About the Authors xvi Chapter Data and Statistics Chapter Descriptive Statistics: Tabular and Graphical Presentations 26 Chapter Descriptive Statistics: Numerical Measures 80 Chapter Introduction to Probability 140 Chapter Discrete Probability Distributions 185 Chapter Continuous Probability Distributions 224 Chapter Sampling and Sampling Distributions 256 Chapter Interval Estimation 293 Chapter Hypothesis Tests 332 Chapter 10 Comparisons Involving Means, Experimental Design, and Analysis of Variance 377 Chapter 11 Comparisons Involving Proportions and a Test of Independence 430 Chapter 12 Simple Linear Regression 464 Chapter 13 Multiple Regression 532 Appendix A References and Bibliography 580 Appendix B Tables 581 Appendix C Summation Notation 608 Appendix D Self-Test Solutions and Answers to Even-Numbered Exercises 610 Appendix E Using Excel Functions 640 Appendix F Computing p-Values Using Minitab and Excel 645 Index 649 Contents Preface xii About the Authors xvi Chapter Data and Statistics Statistics in Practice: BusinessWeek 1.1 Applications in Business and Economics Accounting Finance Marketing Production Economics 1.2 Data Elements, Variables, and Observations Scales of Measurement Qualitative and Quantitative Data Cross-Sectional and Time Series Data 1.3 Data Sources 10 Existing Sources 10 Statistical Studies 11 Data Acquisition Errors 12 1.4 Descriptive Statistics 13 1.5 Statistical Inference 15 1.6 Computers and Statistical Analysis 17 Summary 17 Glossary 18 Supplementary Exercises 19 Chapter Descriptive Statistics: Tabular and Graphical Presentations 26 Statistics in Practice: Colgate-Palmolive Company 27 2.1 Summarizing Qualitative Data 28 Frequency Distribution 28 Relative Frequency and Percent Frequency Distributions 29 Bar Graphs and Pie Charts 29 2.2 Summarizing Quantitative Data 34 Frequency Distribution 34 Relative Frequency and Percent Frequency Distributions 35 Dot Plot 36 Histogram 36 Cumulative Distributions 37 Ogive 39 v Contents 2.3 Exploratory Data Analysis: The Stem-and-Leaf Display 43 2.4 Crosstabulations and Scatter Diagrams 48 Crosstabulation 48 Simpson’s Paradox 51 Scatter Diagram and Trendline 52 Summary 57 Glossary 59 Key Formulas 60 Supplementary Exercises 60 Case Problem 1: Pelican Stores 66 Case Problem 2: Motion Picture Industry 67 Appendix 2.1 Using Minitab for Tabular and Graphical Presentations 68 Appendix 2.2 Using Excel for Tabular and Graphical Presentations 70 Chapter Descriptive Statistics: Numerical Measures 80 Statistics in Practice: Small Fry Design 81 3.1 Measures of Location 82 Mean 82 Median 83 Mode 84 Percentiles 85 Quartiles 86 3.2 Measures of Variability 90 Range 91 Interquartile Range 91 Variance 91 Standard Deviation 94 Coefficient of Variation 94 3.3 Measures of Distribution Shape, Relative Location, and Detecting Outliers 97 Distribution Shape 97 z-Scores 98 Chebyshev’s Theorem 99 Empirical Rule 100 Detecting Outliers 101 3.4 Exploratory Data Analysis 104 Five-Number Summary 104 Box Plot 105 3.5 Measures of Association Between Two Variables 109 Covariance 109 Interpretation of the Covariance 111 Correlation Coefficient 113 Interpretation of the Correlation Coefficient 114 3.6 The Weighted Mean and Working with Grouped Data 118 Weighted Mean 118 Grouped Data 119 Summary 123 Glossary 124 Key Formulas 125 Supplementary Exercises 127 Case Problem 1: Pelican Stores 130 vi Contents Case Problem 2: Motion Picture Industry 132 Case Problem 3: Business Schools of Asia-Pacific 132 Appendix 3.1 Descriptive Statistics Using Minitab 134 Appendix 3.2 Descriptive Statistics Using Excel 136 Chapter Introduction to Probability 140 Statistics in Practice: Rohm and Hass Company 141 4.1 Experiments, Counting Rules, and Assigning Probabilities 142 Counting Rules, Combinations, and Permutations 143 Assigning Probabilities 147 Probabilities for the KP&L Project 149 4.2 Events and Their Probabilities 152 4.3 Some Basic Relationships of Probability 156 Complement of an Event 156 Addition Law 157 4.4 Conditional Probability 162 Independent Events 166 Multiplication Law 166 4.5 Bayes’ Theorem 170 Tabular Approach 174 Summary 176 Glossary 176 Key Formulas 177 Supplementary Exercises 178 Case Problem: Hamilton County Judges 182 Chapter Discrete Probability Distributions 185 Statistics in Practice: Citibank 186 5.1 Random Variables 186 Discrete Random Variables 187 Continuous Random Variables 188 5.2 Discrete Probability Distributions 189 5.3 Expected Value and Variance 195 Expected Value 195 Variance 195 5.4 Binomial Probability Distribution 199 A Binomial Experiment 200 Martin Clothing Store Problem 201 Using Tables of Binomial Probabilities 205 Expected Value and Variance for the Binomial Distribution 206 5.5 Poisson Probability Distribution 210 An Example Involving Time Intervals 210 An Example Involving Length or Distance Intervals 212 5.6 Hypergeometric Probability Distribution 213 Summary 216 Glossary 217 Key Formulas 218 Supplementary Exercises 219 Appendix 5.1 Discrete Probability Distributions with Minitab 221 Appendix 5.2 Discrete Probability Distributions with Excel 222 vii Contents Chapter Continuous Probability Distributions 224 Statistics in Practice: Procter & Gamble 225 6.1 Uniform Probability Distribution 226 Area as a Measure of Probability 227 6.2 Normal Probability Distribution 230 Normal Curve 230 Standard Normal Probability Distribution 232 Computing Probabilities for Any Normal Probability Distribution 237 Grear Tire Company Problem 238 6.3 Normal Approximation of Binomial Probabilities 242 6.4 Exponential Probability Distribution 245 Computing Probabilities for the Exponential Distribution 246 Relationship Between the Poisson and Exponential Distributions 247 Summary 249 Glossary 249 Key Formulas 250 Supplementary Exercises 250 Case Problem: Specialty Toys 253 Appendix 6.1 Continuous Probability Distributions with Minitab 254 Appendix 6.2 Continuous Probability Distributions with Excel 255 Chapter Sampling and Sampling Distributions 256 Statistics in Practice: Meadwestvaco Corporation 257 7.1 The Electronics Associates Sampling Problem 258 7.2 Selecting a Sample 259 Sampling from a Finite Population 259 Sampling from a Process 261 7.3 Point Estimation 263 Practical Advice 264 7.4 Introduction to Sampling _Distributions 266 7.5 Sampling Distribution _ of x 269 Expected Value of x 269 _ Standard Deviation of x 270 _ Form of the Sampling Distribution of x 271 _ Sampling Distribution of x for the EAI Problem_ 272 Practical Value of the Sampling Distribution of x 273 Relationship Between the Sample Size and the Sampling _ Distribution of x 274 _ 7.6 Sampling Distribution _ of p 278 Expected Value of p 279 _ Standard Deviation of p 279 _ Form of the Sampling Distribution of p 280 _ Practical Value of the Sampling Distribution of p 281 7.7 Other Sampling Methods 284 Stratified Random Sampling 284 Cluster Sampling 285 Systematic Sampling 285 Convenience Sampling 286 Judgment Sampling 286 ... 0 918 10 93 12 92 15 15 0749 09 01 1075 12 71 1492 0735 0885 10 56 12 51 1469 07 21 0869 10 38 12 30 14 46 0708 0853 10 20 12 10 14 23 0694 0838 10 03 11 90 14 01 06 81 0823 0985 11 70 13 79 Ϫ.9 Ϫ.8 Ϫ.7 Ϫ.6 Ϫ.5 18 41. .. 010 4 013 6 017 4 0222 0078 010 2 013 2 017 0 0 217 0075 0099 012 9 016 6 0 212 0073 0096 012 5 016 2 0207 00 71 0094 012 2 015 8 0202 0069 00 91 011 9 015 4 019 7 0068 0089 011 6 015 0 019 2 0066 0087 011 3 014 6 018 8... 0 314 0392 0485 0594 0244 0307 0384 0475 0582 0239 03 01 0375 0465 05 71 0233 0294 0367 0455 0559 1. 4 1. 3 1. 2 1. 1 1. 0 0808 0968 11 51 1357 15 87 0793 09 51 113 1 13 35 15 62 0778 0934 11 12 13 14 15 39