Idiot's Guides: Statistics, 3E

Idiot's Guides: Statistics, 3E

by Robert A. Donnelly Jr. Ph.D., Fatma Abdel-Raouf Ph.D.

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Overview

Statistics is a class that is required in many college majors, and it’s an increasingly popular Advanced Placement (AP) high school course. In addition to math and technical students, many business and liberal arts students are required to take it as a fundamental component of their majors. A knowledge of statistical interpretation is vital for many careers. 

Idiot’s Guides®: Statistics explains the fundamental tenets in language anyone can understand.

Content includes:
- Calculating descriptive statistics.
- Measures of central tendency: mean, median, and mode.
- Probability.
- Variance analysis.
- Inferential statistics.
- Hypothesis testing.
- Organizing data into statistical charts and tables.

Product Details

ISBN-13: 9781465451668
Publisher: DK
Publication date: 07/12/2016
Series: Idiot's Guides Series
Edition description: 3rd ed.
Pages: 336
Sales rank: 731,929
Product dimensions: 7.70(w) x 9.10(h) x 0.80(d)

About the Author

Robert A. Donnelly Jr, PhD, was an associate professor of management at Goldey-Beacom College, a private business institution in Wilmington, Delaware. He earned a PhD in operations research from the University of Delaware and specialized in statistics, operations management, management information systems, database management, and management of services. In 2000 he received the Faculty Service Award in recognition of his efforts in the development of a college-wide Academic Honor Code. He made several business presentations over the years to the American Management Association and was involved in a variety of management consulting activities, including projects for Alpha Owens Corning Corporation and the DuPont Company.

Fatma Abdel-Raouf, PhD, is a professor of economics and finance at Goldey-Beacom College (GBC). She has more than 20 years of teaching experience at the graduate and undergraduate levels. Prior to joining GBC in 2002, Dr. Abdel-Raouf taught at Cleveland State University, Myers University, University of Phoenix, Langston University, State University of New York at Albany, and Cairo University. She also directed the graduate programs at the University of Phoenix, where she started a new Master of Management program. In addition, Dr. Abdel-Raouf is a member of the editorial board of the Scientific Journals International, and a referee for the Eastern Economic Journal and the Southwestern Economic Review. Dr. Abdel-Raouf has been awarded the Excellence in Teaching awards from Goldey-Beacom College and Langston University, and was recognized in Who's Who Among American Teachers and Educators in 2007.

Table of Contents

Part 1 The Basics 1

1 Let's Get Started 3

What Is Statistics and Why Do You Need It? 4

Types of Statistics 5

Descriptive Statistics-the Minor League 5

Inferential Statistics-the Major League 6

Population vs. Sample 7

Parameter vs. Statistic 8

Ethics and Statistics-It's a Dangerous World Out There 9

Practice Problems 12

2 Data, Data Everywhere and Not a Drop to Drink 13

The Importance of Data 14

The Sources of Data-Where Does All This Stuff Come From? 15

Direct Observation-I'll Be Watching You 16

Experiments-Who's in Control? 16

Surveys-Is That Your Final Answer? 16

Data and Types of Variables 17

Quantitative vs. Qualitative Variables 17

Discrete vs. Continuous Variables 17

Dependent vs. Independent Variables 18

Types of Measurement Scales-a Weighty Topic 18

Nominal Level of Measurement 18

Ordinal Level of Measurement 19

Interval Level of Measurement 19

Ratio Level of Measurement 19

Computers to the Rescue 20

The Role of Computers in Statistics 21

Installing the Data Analysis Add-In 21

Practice Problems 24

3 Displaying Descriptive Statistics 27

Frequency Distributions 28

The Frequency Distribution 29

(A Distant) Relative Frequency Distribution 30

The Cumulative Frequency Distribution 31

The Contingency Table 32

Charting Your Course: Graphs 33

Histogram 33

Letting Excel Do Our Dirty Work 34

Bar Chart 38

Pie Chan 41

Line Chart 45

The Stem and Leaf Display-Statistical Flower Power 46

Practice Problems 48

4 Calculating Descriptive Statistics: Measures of Central Tendency (Mean, Median, and Mode) 49

Measures of Central Tendency 50

Mean 50

Median 52

Mode 53

Weighted Mean 53

Measures of Central Tendency for Grouped Data: 55

How Does One Choose? 57

Using Excel to Calculate Central Tendency 57

Practice Problems 60

5 Calculating Descriptive Statistics: Measures of Dispersion 63

Measures of Dispersion for Ungrouped Data 64

Range 64

Variance 65

Using the Raw Score Method (When Grilling) 66

Variance of a Population 67

Standard Deviation 68

Measures of Dispersion for Grouped Data 69

Measures of Relative Position 70

Quartiles 70

Interquartile Range (IQR) 72

Excel to the Rescue 73

Practice Problems 74

Part 2 Probability Topics 77

6 Introduction to Probability 79

What is Probability? 80

Classical Probability 80

Empirical Probability 81

Subjective Probability 83

Relationship Between Events 83

Mutually Exclusive Events 83

Independent Events 84

Complementary Events 84

Union and intersection of Events 85

The Union of Events: A Marriage Made in Heaven 85

The Intersection of Events 85

Practice Problems 86

7 Probability and Counting Rules 89

Addition Rule of Probabilities 90

Conditional Probability 91

Multiplication Rule of Probabilities 93

Bayes' Theorem 94

Counting Principles 95

The Fundamental Counting Rule 95

Permutations 98

Combinations 99

Using Excel to Calculate Factorials, Permutations, and Combinations 100

Practice Problems 102

8 Probability Distributions 105

Basic Concepts of Probability Distributions 106

Random Variables 106

Probability Distributions 106

Rules for Discrete Probability Distributions 108

The Mean of Discrete Probability Distributions 109

The Variance and Standard Deviation of Discrete Probability Distributions 110

Practice Problems 111

9 The Binomial Probability Distribution 113

Characteristics of a Binomial Experiment 114

The Binomial Probability Distribution 115

Binomial Probability Tables 117

Using Excel to Calculate Binomial Probabilities 118

The Mean and Standard Deviation for the Binomial Distribution 120

Practice Problems 121

10 The Poisson Probability Distribution 123

Characteristics of a Poisson Process 124

The Poisson Probability Distribution 125

Poisson Probability Tables 127

Using Excel to Calculate Poisson Probabilities 130

Using the Poisson Distribution as an Approximation to the Binomial Distribution 132

Practice Problems 133

11 The Normal Probability Distribution 135

Characteristics of the Normal Probability Distribution 136

Calculating Probabilities for the Normal Distribution 138

Calculating Probability Using the Z-Score 139

Using the Standard Normal Table 141

The Area Under the Normal Distribution and the Empirical Rule 146

Calculating formal Probabilities Using Excel 147

Using the Normal Distribution as an Approximation to the Binomial Distribution 148

Practice Problems 151

Part 3 Inferential Statistics 153

12 Sampling 155

Why Sample? 156

Random Sampling 157

Simple Random Sampling 157

Systematic Sampling 160

Cluster Sampling 162

Stratified Sampling 162

Sampling Error and Sampling Bias 163

Sampling Error 163

Sampling Bias 164

Examples of Poor Sampling Techniques 164

Practice Problems 165

13 Sampling Distributions 167

What Is a Sampling Distribution? 168

Sampling Distribution of the Sample Means 168

Mean of the Sampling Distribution of the Sample Means 171

Standard Error of the Sampling Distribution of the Sample Means 173

The Central Limit Theorem 175

Putting the Central Limit Theorem to Work 177

Sampling Distribution of the Proportion 178

Calculating the Sample Proportion 179

Calculating the Standard Error of the Proportion 180

Practice Problems 181

14 Confidence Intervals 183

The Basics of Confidence Intervals 184

Point Estimate and Interval Estimate 184

The Principle of Confidence Intervals 185

The Probability of an Error (the Alpha Value) 185

Confidence Intervals for the Population Mean 186

When the Population Standard Deviation Is Known 186

Beware of Interpretation of the Confidence Interval! 188

The Effect of Changing Confidence Levels 190

The Effect of Changing the Sample Size 190

When the Population Standard Deviation Is Unknown 191

When the Population Standard Deviation Is Unknown and with Small Samples 192

Determining Sample She for the Population Mean 195

Using Excels Confidence Function 196

Confidence Intervals for the Population Proportion with Large Samples 198

Calculating the Confidence Interval for the Population Proportion 199

Determining Sample Size for the Proportion 200

Practice Problems 201

15 Hypothesis Testing with One Population 203

Hypothesis Testing: The Traditional Method 204

Procedures far Hypothesis Testing 204

1 The Null and Alternative Hypotheses 205

2 The Level of Significance 206

3 The Test Statistic 207

4 The Critical Value 207

5 State Your Decision 209

One-Tail vs. Two-Tail Tests 209

Two-Tail Hypothesis Testing 210

One-Tail Hypothesis Testing 211

Hypothesis Testing for the Population Mean 213

When Sigma Is Known 213

When Sigma Is Unknown and Using a Large Sample 214

When Sigma Is Unknown and Using a Small Sample 216

The Role of Alpha in Hypothesis Testing 219

The p-Value Method 220

The p-Value for a One-Tail Test 221

The p-Value for a Two-Tail Test 222

Using Excel for Hypothesis Testing 223

Using Excel's Norm.S.Dist Function 224

Using Excel's TDTST, T.DIST.RT, and T.DIST.2T Functions 225

Using Excels T.INV and T.INV.2T Functions 226

Hypothesis Testing for the Population Proportion with Large Samples 228

One-Tail Hypothesis Test for the Proportion 228

Two-Tail Hypothesis Test for the Proportion 230

Practice Problems 231

16 Hypothesis Testing with Two Populations 235

The Concept of Testing Two Populations 236

Sampling Distribution for the Difference in Means 236

Testing for the Differences Between Two Population Means with Independent Samples 238

When the Population Standard Deviations Are Known 238

Testing a Difference Other Than Zero 240

When the Population Standard Deviations Are Unknown 242

Unequal Population Variances When the Population Standard Deviations Are Unknown 242

Equal Population Variances When the Population Standard Deviations Are Unknown 245

To Pool or Not to Pool? 248

Testing for Differences Between Means with Dependent Samples 248

Letting Excel Do the Grunt Work 251

Testing for Differences Between Proportions with Independent Samples 256

Practice Problems 259

Appendixes

A Solutions to "Practice Problems" 263

B Statistical Tables 281

C Glossary 291

D Statistics Reference Glossary 299

E Excel Reference Glossary 303

Index 305

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