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Applied Statistics in Business and Economics, 7th edition, provides
real meaning to the use of statistics in the real world by using
real business situations and real data while appealing to students
who want to know the why rather than just the how. The text
emphasizes thinking about data, choosing appropriate analytic
tools, using computers effectively, and recognizing the limitations
of statistics. It motivates student learning through applied
current exercises and cases that provide real-world relevance and
includes analytics in action, careers, and applications of big
data, Artificial Intelligence, and machine learning (including
ethical issues). The Doane and Seward authors work as a team,
integrating the digital and eBook assets seamlessly. In recognition
of a growing interest in analytics training beyond Excel, the
textbook now provides an optional introduction to R with
illustrations of topics in each chapter. Support for R is further
enhanced with Learning Stats modules, tables of R functions, and
R-compatible Excel data sets.
The Third Edition of Essential Statistics in Business and Economics
was written to meet four distinct objectives. Objective 1:
Communicate the Meaning of Variation in a Business Context
Variation exists everywhere in the world around us and successful
businesses know how to measure variation. This text shows how
businesses know how to tell when variation should be responded to
and when it should be left alone. Objective 2: Use Realistic
Business Applications The text offers examples, case studies, and
problems from current research or real applications whenever
possible. Hypothetical data are used when it seems the best way to
illustrate a concept. Objective 3: Incorporate Current Statistical
Practices and Offer Practical Advice With the increased reliance on
computers and data analytics, statistics practitioners have changed
the way they use statistical tools. The text shows the current
practices and explains why they are used the way they are, and
tells you when each technique should not be used. Objective 4:
Provide More In-Depth Explanation of the Why and Let the Software
Take Care of the How Today's technology makes it easier to
summarize and communicate with data than ever before. The text
demonstrates easily mastered techniques with commonly available
software. The authors emphasize the idea of risks in decision
making and that risks should be quantified and considered in
business decisions.
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