Business Statistics : Theory and Applications

The primary objective of this text is to help students think clearly and critically and apply the business statistics in decision making to solve problems.

The book introduces the need for quantitative analysis in business and the basic procedures in problem solving. Following an application-based theory approach, the book focuses on data collection, data presentation, summarizing and describing data, basic probability, and statistical inference.

A separate chapter is devoted to show how Microsoft Excel can be used to solve problems and to make statistical analyses.

It contains specimen Excel Worksheets illustrating how the problems of each chapter are solved using Excel functions and formulas.

A large number of real-world business problems from various professions - such as finance, medical, psychology, sociology, and education - are also included. The text will help students:Understand the meaning and use of statistical terms used in business statisticsUse graphical and descriptive statistics to identify the need for statistical inference techniquesPerform statistical analysesInterpret the results of statistical analysesApply statistical inference techniques in business situationsUse computer spreadsheet software to perform statistical analysis on dataChoose the appropriate statistical tool from the collection of standard analytic methodsThis textbook is primarily intended for undergraduate and postgraduate students of management and postgraduate students of commerce.