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Statistics Data Analysis and Decision Modeling / Edition 2
     

Statistics Data Analysis and Decision Modeling / Edition 2

by David L. Olsen, David L. Olson
 

ISBN-10: 0130675539

ISBN-13: 9780130675538

Pub. Date: 01/28/2003

Publisher: Prentice Hall

This book covers basic concepts of business statistics, data analysis, and management science in a spreadsheet environment. Practical applications are emphasized throughout the book for business decision-making; a comprehensive database is developed, with marketing, financial, and production data already formatted on Excel worksheets. This shows how real data is used

Overview

This book covers basic concepts of business statistics, data analysis, and management science in a spreadsheet environment. Practical applications are emphasized throughout the book for business decision-making; a comprehensive database is developed, with marketing, financial, and production data already formatted on Excel worksheets. This shows how real data is used and decisions are made. Using Excel as the basic software, and including such add-ins as PHStat2, Crystal Ball, and TreePlan, this book covers a wide variety of topics related to business statistics: statistical thinking in business; displaying and summarizing data; random variables; sampling; regression analysis; forecasting; statistical quality control; risk analysis and Monte-Carlo simulation; systems simulation modeling and analysis; selection models and decision analysis; optimization modeling; and solving and analyzing optimization models. For those employed in the fields of quality control, management science, operations management, statistical science, and those who need to interpret data to make informed business decisions.

Product Details

ISBN-13:
9780130675538
Publisher:
Prentice Hall
Publication date:
01/28/2003
Edition description:
Older Edition
Pages:
512

Table of Contents

(NOTE: Each chapter begins with an Introduction and includes Questions and Problems.)
1. Data and Business Decisions.
Statistical Thinking in Business. Data in the Business Environment. Sources and Types of Data. Populations and Samples. Decision Models. Using Microsoft Excel. Working with Data in Excel. Case: The Tracway Balanced Scorecard.

2. Displaying and Summarizing Data.
Displaying Data with Charts and Graphs. Contingency Tables and Cross-Tabulations. Descriptive Statistics. Measures of Dispersion. Calculations for Grouped Data. Coefficient of Variation. Measures of Shape. Excel's Descriptive Statistics Tool. Data Profiles and Proportions. Visual Display of Statistical Measures. Statistical Relationships. Case: Descriptive Statistical Analysis of Tracway Data.

3. Random Variables and Probability Distributions.
Basic Concepts. Random Variables. Probability Distributions. Expected Value and Variance of a Random Variable. Discrete Probability Distributions. Continuous Probability Distributions. Other Useful Distributions. Monte-Carlo Methods in Statistics. Sampling Distributions and Sampling Error. Case: Probability Modeling for Tracway Quality Measurements.

4. Sampling and Statistical Inference.
Statistical Sampling. Statistical Analysis of Sample Data. Estimation. Interval Estimates. Confidence Intervals for the Mean. Confidence Intervals for Proportions. Confidence Intervals and Sample Size. Additional Types of ConfidenceIntervals. Hypothesis Testing. One Sample Hypothesis Tests. Two-Sample Hypothesis Tests. ANOVA: Testing Differences of Several Means. Non Parametric Hypothesis Tests. Distribution Fitting: An Application of Hypothesis Testing. Case: Statistical Inference for Tracway.

5. Regression Analysis.
Simple Linear Regression. Measuring Variation About the Regression Line. Regression as Analysis of Variance. Assumptions of Regression Analysis. Application of Regression Analysis to Investment Risk. Multiple Linear Regression. Building Good Regression Models. Regression with Categorical Independent Variables. Regression Models with Nonlinear Terms. Case: Regression Analysis for Tracway.

6. Forecasting.
Qualitative and Judgmental Methods. Indicators and Indexes. Statistical Forecasting Models. Forecasting Models for Stationary Time Series. Forecasting Models with Linear Trends. Models for Time Series with Trend and Seasonal Components. CB Predictor. Regression Models. The Practice of Forecasting.

7. Statistical Quality Control.
The Role of Statistics and Data Analysis in Quality Control. Statistical Process Control. Analyzing Control Charts. Control Charts for Attributes. Statistical Issues in the Design of Control Charts. Process Capability Analysis. Case: Quality Control at Tracway. References.

8. Risk Analysis and Monte-Carlo Simulation.
Risk Analysis. Monte-Carlo Simulation with Crystal Ball. Additional Crystal Ball Modeling and Analysis Options. Applications of Monte-Carlo Simulation.

9. Systems Simulation Modeling and Analysis.
System Simulating Modeling Approaches. Simulating Inventory Systems Using Activity Scanning. Simulating Waiting Line Systems Using Process-Driven Models. Event-Driven Simulation Models. An Event-Driven Inventory Simulation Model. Entities and Attributes. Continuous Simulation Modeling. Case: Tracway Production/Inventory Planning. References.

10. Selection Models and Decision Analysis.
Decisions Involving a Single Alternative. Decisions Involving Non-Mutually Exclusive Alternatives. Decisions Involving Mutually Exclusive Alternatives. Decisions Involving Uncertainty. Case: A Tracway Decision Problem. References.

11. Optimization Modeling.
Constrained Optimization. Linear Optimization Models. Spreadsheet Implementation of Linear Programming Models. Integer Optimization Models. Nonlinear Optimization. Case: Distribution Center Location for Tracway.

12. Solving and Analyzing Optimization Models.
Using Spreadsheet Models for Optimization. Solving Linear Optimization Models. Solving Integer Optimization Models. Solving Nonlinear Optimization Models. Risk Analysis of Optimization Results. Combining Optimization and Simulation. Case: Distribution Center Location for Tracway.

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