Cover: The Practice of Statistics for Business and Economics, 5th Edition by Layth C. Alwan; Bruce A. Craig; George P. McCabe

The Practice of Statistics for Business and Economics

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Fifth  Edition©2020  Layth C. Alwan; Bruce A. Craig; George P. McCabe

ISBN:9781319272654

ISBN:9781319401276

ISBN:9781319272661

ISBN:9781319109004

ISBN:9781319411107

ISBN:9781319411121

About

What is Statistics? And why does it matter?
Statistics is the science of collecting, organizing, and interpreting numerical facts, which we call data. 

We are bombarded by data in our everyday lives. The
news mentions movie box-office sales, the latest poll of the president’s popularity, and the average high temperature for today’s date. Advertisements claim that data show the superiority of the advertiser’s product. All sides in public debates about economics, education, and social policy argue from data. A knowledge of statistics helps separate sense from nonsense in this flood of data.

The goal is to learn from data, and in this book you’ll see data from a variety of different areas. Soon enough you’ll be asking yourself “what does the data tell me?”

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Table of Contents

Students can download the following resources from the Student Site: Module datasets: The folders containing the GIS datasets used in each module can be downloaded as compressed zip files and unzipped to access the data. Each module in this book requires you to download a folder for use within ArcGIS Pro.

CHAPTER 1 Examining Distributions
CHAPTER 2 Examining Relationships
CHAPTER 3 Producing Data
CHAPTER 4 Probability: The Study of Randomness
CHAPTER 5 Random Variables and Probability Distributions
CHAPTER 6 Sampling Distributions
CHAPTER 7 Introduction to Inference
CHAPTER 8 Inference for Means
CHAPTER 9 One-Way Analysis of Variance
CHAPTER 10 Inference for Proportions
CHAPTER 11 Inference for Categorical Data
CHAPTER 12 Inference for Regression
CHAPTER 13 Multiple Regression
CHAPTER 14 Time Series Forecasting

The Core book includes Chapters 1 – 14 . Chapters 15 – 18 are individual optional Companion Chapters and can be found on the Student Site.

CHAPTER 15 Statistics for Quality: Control and Capability
CHAPTER 16 Two-Way Analysis of Variance
CHAPTER 17 Nonparametric Tests
CHAPTER 18 Logistic Regression

Layth C. Alwan

Layth C. Alwan is a Professor of Business Statistics and Operations Management, Sheldon B. Lubar School of Business, University of Wisconsin–Milwaukee. He received a B.A. in mathematics, B.S. in statistics, M.B.A., and PhD in business statistics/operations management, all from the University of Chicago, and an M.S. in computer science from DePaul University. Professor Alwan is an author of many research articles related to statistical process control and business forecasting. He has consulted for many leading companies on statistical issues related to quality, forecasting, and operations/supply chain management applications. On the teaching front, he is focused on engaging and motivating business students on how statistical thinking and data analysis methods have practical importance in business. He is the recipient of several teaching awards, including Business School Teacher of the Year and Executive M.B.A. Outstanding Teacher of the Year.

Bruce A. Craig

Bruce A. Craig is Professor of Statistics and Director of the Statistical Consulting Service at Purdue University. He received his B.S. in mathematics and economics from Washington University in St. Louis and his PhD in statistics from the University of Wisconsin–Madison. He is an active member of the American Statistical Association and was chair of its section on Statistical Consulting in 2009. He also is an active member of the Eastern North American Region of the International Biometrics Society and aws elected by the voting membership to the Regional Committee from 2003 to 2006. Professor Craig has served on the editorial board of several statistical journals and has been a member of several data and safety monitoring boards, including Purdues IRB. Professor Craigs research interests focus on the development of novel statistical methodology to address research questions in the life sciences. Areas of current interest are protein structure determination, diagnostic testing, and animal abundance estimation. In 2005, he was named Purdue University Faculty Scholar.

George P. McCabe

George P. McCabe is the Associate Dean for Academic Affairs in the College of Science and a Professor of Statistics at Purdue University. In 1966, he received a B.S. degree in mathematics from Providence College, and in 1970 a Ph.D. in mathematical statistics from Columbia University.  His entire professional career has been spent at Purdue with sabbaticals at Princeton, the Commonwealth Scientific and Industrial Research Organization in Melbourne (Australia); the University of Berne (Switzerland); the National Institute of Standards and Technology (Boulder, Colorado); and the National University of Ireland in Galway. Professor McCabe is an elected fellow of the American Association for the Advancement of Science and of the American Statistical Association; he was 1998 Chair of its section on Statistical Consulting. From 2008 to 2010, he served on the Institute of Medicine Committee on Nutrition Standards for the National School Lunch and Breakfast Programs.  He has served on the editorial boards of several statistics journals, has consulted with many major corporations, and has testified as an expert witness on the use of statistics.
 
Professor McCabe’s research has focused on applications of statistics.  Much of his recent work has been on problems of nutrition, including nutrient requirements, calcium metabolism, and bone health. He is author or coauthor of more than 160 publications in many different journals.