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Basic Statistics in Business & Economics provides students
majoring in management, marketing, finance, accounting, economics,
and other fields of business administration with an introductory
survey of descriptive and inferential statistics. Many examples and
exercises that focus on business applications are used to
illustrate the application of statistics, but also relate to the
current world of the college student. A previous course in
statistics is not necessary, and the mathematical requirement is
first-year algebra. Students are given every step needed to be
successful in a basic statistics course. This step-by-step approach
enhances performance, accelerates preparedness, and significantly
improves motivation. 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. Today, the practice of data analytics is widely applied
to big data. The practice of data analytics requires skills and
knowledge in several areas. Computer skills are needed to process
large volumes of information. Analytical skills are needed to
evaluate, summarize, organize, and analyze the information.
Critical thinking skills are needed to interpret and communicate
the results of processing the information. This text supports the
development of basic data analytical skills with the end of each
chapter sections called Data Analytics providing the instructor and
student with opportunities to apply statistical knowledge and
statistical software to explore several business environments.
Interpretation of the analytical results is an integral part of
these exercises. A variety of statistical software is available to
complement the 10th edition. Microsoft Excel includes an add-in
with many statistical analyses. MegaStat is an add-in available for
Microsoft Excel. Minitab and JMP are stand-alone statistical
software packages available to download for either PC or Mac. In
the text, Microsoft Excel, Minitab, and MegaStat are used to
illustrate statistical software analyses. The text also includes
references or links to Excel tutorials in Connect. These provide
users with clear demonstrations using statistical software to
create graphical and descriptive statistics and statistical
analyses to test hypotheses. Digital resources within McGraw Hill
Connect (R) help students apply what they've learned and achieve
higher outcomes in the course. Connect is the only integrated
learning system that empowers students by continuously adapting to
deliver precisely what they need when they need it and how they
need it so that class time is more engaging and effective.
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