David R. Anderson, Dennis J. Sweeney, Thomas A. Williams's Statistics for Business and Economics (11th Edition) PDF

By David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

ISBN-10: 0324783256

ISBN-13: 9780324783254

This industry top textual content bargains confirmed, complete, applications-oriented method. Written through authors who're very hot within the box, the textual content presents sound methodological improvement. The dialogue and improvement of every method is gifted in an software surroundings, with the statistical effects offering insights to judgements and ideas to difficulties. statistics for enterprise and Economics, 9e bargains confirmed accuracy that has led teachers to undertake it easily for its more advantageous examples and routines on my own.

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Extra info for Statistics for Business and Economics (11th Edition)

Sample text

Suppose further that Norris’s management decides to continue the study by manufacturing and testing repeated samples of 200 lightbulbs with the new filament until a sample mean of 80 hours or more is obtained. If the study is repeated enough times, a sample may eventually be obtained—by chance alone—that would provide the desired result and enable Norris to make such a claim. In this case, consumers would be misled into thinking the new product is better than it actually is. Clearly, this type of behavior is unethical and represents a gross misuse of statistics in practice.

The scale of measurement for a variable is nominal when the data are labels or names used to identify an attribute of an element. The scale is ordinal if the data demonstrate the properties of nominal data and the order or rank of the data is meaningful. The scale is interval if the data demonstrate the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure. Finally, the scale of measurement is ratio if the data show all the properties of interval data and the ratio of two values is meaningful.

Cross-Sectional and Time Series Data For purposes of statistical analysis, distinguishing between cross-sectional data and time series data is important. Cross-sectional data are data collected at the same or approximately the same point in time. 1 are cross-sectional because they describe the five variables for the 25 mutual funds at the same point in time. Time series data are data collected over several time periods. S. average price per gallon of conventional regular gasoline between 2006 and 2009.

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Statistics for Business and Economics (11th Edition) by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

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