Business Statistics: For Contemporary Decision Making / Edition 7

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Black's latest outstanding pedagogy of Business Statistics includes the use of extra problems called "Demonstration Problems" to provide additional insight and explanation to working problems, and presents concepts, topics, formulas, and application in a manner that is palatable to a vast audience and minimizes the use of "scary" formulas. 

Every chapter opens up with a vignette called a "Decision Dilemma" about real companies, data, and business issues. Solutions to these dilemmas are presented as a feature called "Decision Dilemma Solved."  In this edition all cases and "Decision Dilemmas" are updated and revised and 1/3 have been replaced for currency. There is also a significant number of additional problems and an extremely competitive collection of databases (containing real data) on: international stock markets, consumer food, international labor, financial, energy, agribusiness, 12-year gasoline, manufacturing, and hospital. 

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Product Details

  • ISBN-13: 9780470931462
  • Publisher: Wiley
  • Publication date: 10/25/2011
  • Edition description: Older Edition
  • Edition number: 7
  • Pages: 880
  • Sales rank: 512,508
  • Product dimensions: 8.80 (w) x 11.10 (h) x 1.40 (d)

Meet the Author

Ken Black is currently Professor of Decision Sciences in the School of Business and Public Administration at the University of Houston-Clear Lake. Born in Cambridge, Massachusetts and raised in Missouri, he earned a Bachelor's degree in mathematics from Graceland College, a Master's degree in math education from the University of Texas at El Paso, a Ph.D. in business administration in management science, and a Ph.D. in educational research from the University of North Texas.

Since joining the faculty in 1979, Professor Black has taught all levels of statistics courses, forecasting, management science, market research, and production/operations management. He published fifteen journal articles and over twenty professional papers, as well as two textbooks: Business Statistics: An Introductory Course and Business Statistics: Contemporary Decision Making. Black has consulted for many different companies, including Aetna, City of Houston, NYLCare, At&T, Johnson Space Center, Southwest Information resource, Connect Corporation, and Eagle Engineering.

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Table of Contents


1. Introduction to Statistics 02

2. Charts and Graphs 18

3. Descriptive Statistics 52

4. Probability 98


5. Discrete Distributions 142

6. Continuous Distributions 184

7. Sampling and Sampling Distributions 222


8. Statistical Inference: Estimation for Single Populations 256

9. Statistical Inference: Hypothesis Testing for Single Populations 294

10. Statistical Inferences about Two Populations 348

11. Analysis of Variance and Design of Experiments 408


12. Simple Regression Analysis and Correlation 470

13. Multiple Regression Analysis 522

14. Building Multiple Regression Models 552

15. Time-Series Forecasting and Index Numbers 602


16. Analysis of Categorical Data 658

17. Nonparametric Statistics 684

18. Statistical Quality Control 734


A. Tables 779

B. Answers to Selected Odd-Numbered Quantitative Problems 819



The following materials are available at

19. Decision Analysis C19-2

Supplement 1. Summation Notation S1-1

Supplement 2. Derivation of Simple Regression Formulas for Slope and y Intercept S2-1

Supplement 3. Advanced Exponential Smoothing S3-1

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