Statistics

For business statistics courses taught in Economics and Business Schools.

This classic text is known for its accuracy and statistical precision. This text enables students to conduct serious analysis of applied problems in contrast to merely running simple“canned” applications to help students become stronger analysts and future managers. It is also at a mathematically higher level than most business statistics texts.

This classic text is known for its accuracy and statistical precision. This text enables students to conduct serious analysis of applied problems in contrast to merely running simple “canned” applications to help students become stronger analysts and future managers.

Statistics can seem like a foreign language, what in-text resources help your students learn how to analyze, interpret and communicate their statistical results and recommendations? Would you be interested in a text that demonstrates the relevance of statistics to the real world?

• Provides numerous examples. Each statistical example and solution is presented in the context of a real world business problem. The authors use data from the real world, which can sometimes complicate calculations because the analysis isn't simple and neat, allowing students to see how real world analysis is conducted.
  • Real world business problems lend relevance to why students need to know statistics and allows students to apply their knowledge.

• Provides Detailed step-by-step examples, figures and graphs, and interpretation of data. In business there are many ways to misuse statistical data if one does not have some understanding of how the models work.  
  • Helps students model future problems and avoid the pitfalls of mistaken statistical conclusions.

How do you get students to understand the relevance of the statistical techniques to other business disciplines?

• Provides applications of statistics to functional areas such as marketing, finance, accounting, management, and economics. For example in chapters five and six the authors developed correlations between random variables and then extend this to portfolio problems.  The ideas developed in those sections are fundamental to the analysis of investment portfolios in finance.
  • Business students are interested in problems from the perspective of a manager or a business analyst.  Thus linkage between strong statistical methodology and their careers is critical.

What type of homework do you assign? Do you like to have a large pool of exercises ranging from easy to difficult to assign to your students?

• Extensive exercises. The new edition contains more than 1380 exercises, 355 of which are NEW for this edition. The exercises range from very easy to very difficult.
  • This exhaustive set of exercises provides the instructor with the flexibility to assign exercises for practice or homework.

How do you prefer your students do their assignments - manually or using software?

• Flexibility. Depending on your approach, students can first perform some hand calculations in order to appreciate the methodology and data, then progress to more realistic applied problems that will require the use of the computer io remove the large computational burden.
  • We provide a regular hard copy Solutions Manual with all exercises worked out in detail manually, plus Excel and/or Minitab solutions for basic and application exercises.  

• Software Integration. We provide data files for Excel and Minitab, and TreePlan (Ch. 21 on Statistical Decision Theory).  We have worked to make software generic in this textbook.  We do use minitab and excel, but the emphasis is on interpreting the statistical output, which is similar in all packages.  Students are now more computer literate and detailed explanations of specific software are best left to computer manuals.
  • Lets the instructor decide which statistical package to use.

OTHER POINTS OF DIFFERENTIATION 

What topics do you cover in your course?

• Comprehensive Coverage. Newbold/Carlson/Thorne provide strong coverage especially in descriptive statistics, probability models that apply to management decision making, portfolio analysis, and extended work in simple and multiple regression. 
  • An instructor can select from virtually any statistical topics to meet the needs of their course. 

Do your students ever feel overwhelmed with selecting the proper statistical procedure to apply to a specific scenario?

• Examples and exercises that clearly demonstrate specific statistical techniques needed for varying real world scenarios.  For example in Chapter 5 we present a discussion and some examples that help students understand the choice between a binomial and a probability model.  By emphasizing underlying methodology instead of detailed problem solving we work to develop an overall understanding that students can use when they face a new problem not covered in our examples and exercises. 
  • There are many procedures in statistical methodology and obtaining an understanding of appropriate approaches will avoid mistaken statistical conclusions.

• Covers Covariance and linear combinations of correlated random variables   {See Chapters 5 & 6}
• The depth and extent of regression applications is more comprehensive {See Chapters 13 & 14}
• Covers probability methods for management understanding and decision making  {Chapter 4}

1. Expanded application problems and the addition of simple computational problems as an additional layer for

developing analysis skills.

2.  Removed detailed computer instructions that detracted from the important problem analysis issues.  Our focus is on solving business and economic problems and not on how to use a computer.  Almost all students are computer literate and we emphasize how they can focus on problem solving using the increased capabilities of computers.

3.  Expanded set of applications to financial portfolio analysis both in examples and student exercises.  (Chapter 6)

4.  Expanded emphasis on the use of graphical procedures for presenting results.

Highlights include:

• Full range of drill and application exercises
• Emphasis on the use of computer computation for problem analysis through the examples and through an extensive set of student exercises, many of which use real data sets supplied on the data disk
• Extensive use of examples to reinforce and demonstrate carefully developed concepts
• Emphasis on developing process models as a basis for selecting appropriate statistical procedures
• Extensive development of simple and multiple regression
• Clear development of descriptive statistics and descriptive graphical procedures as a basis for initial data analysis
• Chapter 3 provides initial descriptive procedures for relationships between variables.
• Chapters 5 and 6  (especially 5.7 and 6.6) provide extensive discussion of joint random variables, linear combinations of random variables, and stock portfolio analysis.  Coverage for finance students is beyond that of competing texts. 
• Chapter 7   Intuitive development of the Central Limit Theorem using Monte Carlo Simulation
• Chapters 8 through 11 provides a summary development of estimation and hypothesis testing through clear statements and applied examples.  In addition depth of understanding is developed through clear and rigorous discussion.
• Chapters 12 through 14 provide both a clear introductory approach to simple and multiple regression through clear summary discussion and graphical presentations.  Depth of understanding is also included using discussion and appropriate mathematical analysis.  Extended application examples are developed using computer and graphical approaches.  In addition this book provides an extensive set of regression extensions not found in competing books including dummy variables, non-linear models, model building, time series and more. 

Introduction to Business Statistics (Two Semester)  (Business Statistics)

• 
  Statistics for Business and Economics, 7/E
  Newbold, Carlson & Thorne
  ©2010 | Prentice Hall | Cloth; 1008 pp | Instock
  ISBN-10: 0136085369 | ISBN-13: 9780136085362
  Brief Description | Buy from myPearsonStore

  

  For business statistics courses taught in Economics and Business Schools
  
  

  A classic text for accuracy and statistical precision.

   

  Statistics for Business and Economics enables students to conduct serious analysis of applied problems rather than running simple “canned” applications. This text is also at a mathematically higher level than most business statistics texts and provides students with the knowledge they need to become stronger analysts for future managerial positions.

  
  

  The seventh edition of this book has been revised and updated to provide students with improved problem contexts for learning how statistical methods can improve their analysis and understanding of business and economics.

Companion Website - Newbold, 6/E
Newbold
©2007 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0131880977 | ISBN-13: 9780131880979

Companion Website - Newbold, 6/E
Newbold
©2007 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0131880977 | ISBN-13: 9780131880979

Instructor's Resource Center, 6/E
Newbold & Yandell
©2007 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 013224991X | ISBN-13: 9780132249911
  View Downloadable Files

Instructor's Solutions Manual, 6/E
Huchendorf
©2007 | Prentice Hall | Paper; 534 pp | Instock
ISBN-10: 0131880926 | ISBN-13: 9780131880924
  View Downloadable Files

Test Item File, 6/E
Huchendorf
©2007 | Prentice Hall | Paper; 620 pp | Instock
ISBN-10: 0131880918 | ISBN-13: 9780131880917
  View Downloadable Files

TestGen, 6/E
Newbold
©2007 | Prentice Hall | Software | Estimated Availability : 05/01/2006
ISBN-10: 0131880942 | ISBN-13: 9780131880948
  View Downloadable Files

Companion Website - Newbold, 6/E
Newbold
©2007 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0131880977 | ISBN-13: 9780131880979

Key Formula Guide, 6/E
Newbold
©2007 | Prentice Hall | Paper; 6 pp | Estimated Availability : 05/15/2006
ISBN-10: 0131881000 | ISBN-13: 9780131881006

PHStat2 Version 2.6
Stephan
©2007 | Prentice Hall | CD-ROM Only | Estimated Availability : 04/01/2007
ISBN-10: 0131747029 | ISBN-13: 9780131747029

Companion Website - Newbold, 6/E
Newbold
©2007 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0131880977 | ISBN-13: 9780131880979

Give your students a choice! PearsonChoices products are designed to give your students more value and flexibility by letting them choose from a variety of text and media formats to best match their learning style and their budget.

Pearson Higher Education offers special pricing when you choose to package your text with other student resources. If you're interested in creating a cost-saving package for your students, see the Packages Tab.

• 
  Statistics for Business and Economics, CourseSmart eTextbook, 6/E
  Newbold, Carlson & Thorne
  ©2007 | Prentice Hall | Electronic Book; 1016 pp | Estimated Availability : 06/15/2008
  ISBN-10: 0132076691 | ISBN-13: 9780132076692
  URL:  http://www.coursesmart.com
  Brief Description

  

  CourseSmart Textbooks Online is an exciting new choice for students looking to save money. As an alternative to purchasing the print textbook, students can subscribe to the same content online and save up to 50% off the suggested list price of the print text. With a CourseSmart etextbook, students can search the text, make notes online, print out reading assignments that incorporate lecture notes, and bookmark important passages for later review. For more information, or to subscribe to the CourseSmart eTextbook, visit www.coursesmart.com.

   

This package contains:
•   Newbold, Carlson & Thorne, Statistics for Business and Economics, 6/E (2007)
•   Stephan, Student CDROM, 6/E (2007)

Pearson Higher Education offers special pricing when you choose to package your text with other student resources. If you're interested in creating a cost-saving package for your students contact your Pearson Higher Education representative.