Get Applied Business Statistics: Methods and Excel-Based PDF

By Trevor Wegner

ISBN-10: 0702177741

ISBN-13: 9780702177743

An introductory data textual content for administration scholars who need to know tips to research information generated from any sector of business—be it advertising, finance, human assets, creation, or logistics—this booklet highlights the position of records as a call aid instrument in administration selection making. all through, emphasis is put on the significance of information and information caliber; the diversity of attainable functions, proven by means of a variety of labored examples; transparent causes of ways each one procedure works; and the legitimate administration interpretation of the statistical findings. Assuming just a easy point of mathematical skill, this reference publications scholars via each one statistical technique.

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Additional resources for Applied Business Statistics: Methods and Excel-Based Applications

Sample text

Bar Chart To construct a bar chart, draw a horizontal axis (x-axis) to represent the categories and a vertical axis (y-axis) scaled to show either the frequency counts or the percentages of each category. Then construct vertical bars for each category to the height of its frequency count (or percentage) on the y-axis. Note that the sum of the heights across the bars must equal the sample size (or 100%). The bars must be of equal width to avoid distorting a category’s importance. However, neither the order of the categories on the x-axis, nor the widths of the bars matter.

A count of the data values assigned to each interval produces the summary table, called the numeric frequency distribution. e. e. cover the data range) the sum of the frequency counts must equal the sample size, n, or that the percentage frequencies sum to 100%. The frequency counts can be converted to percentages by dividing each frequency count by the sample size. The resultant summary table is called a percentage frequency distribution. It shows the proportion (or percentage) of data values within each interval.

Management Questions 1 Which grocery store is most preferred by shoppers? 2 What percentage of shoppers prefer this store? 3 What percentage of shoppers prefer to shop at Spar grocery stores? Solution 1 For the categorical variable ‘store preference’ there are three categories of grocery stores that shoppers use: 1 = Checkers; 2 = Pick n Pay; 3 = Spar. To construct the percentage frequency table, first count the number of shoppers that prefer each store – there are 10 ones (Checkers), 17 twos (Pick n Pay) and 3 threes (Spar).

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Applied Business Statistics: Methods and Excel-Based Applications by Trevor Wegner

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