Statistics for Business and Economics: Global Edition

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The topics presented include, but are not limited to: statistical signs and symbols, descriptive statistics, empirical distributions, ratios and index figures, correlation analysis, regression analysis, inferential statistics, probability calculation, probability distributions, theoretical distributions, statistical estimation methods, confidence intervals, statistical testing methods, the Peren-Clement index, and the usual statistical tables. This compendium contains and explains essential statistical formulas within an economic context. A broad range of aids and supportive examples will help readers to understand the formulas and their practical applications. This statistical formulary is presented in a practice-oriented, clear, and understandable manner, as it is needed for meaningful and relevant application in global business, as well as in the academic setting and economic practice. For example, an economist may have access to data on total years of education, hours spent working per week, and household income for households in a certain city. Since publication of first edition in 1993, this text has been adopted by universities around the world

Statistics for Business and Economics, Global Edition - Pearson

Introduction to Statistics is our premier online video course that teaches you all of the topics covered in introductory statistics. Get started with our course today. These are models that allow economists to quantify the relationship between one or more predictor variables and a response variable.They can also quantify exactly how much additional education and additional working hours affects household income. Reason 4: Forecast Trends in the Economy Just from looking at this bar chart, the economist will be able to tell that the unemployment rate is decreasing over time, which is a sign that the economy is strong and more citizens are becoming employed. Reason 3: Quantify Relationship Between Variables Using Regression Models

Statistics for Business and Economics, Global Edition - Pearson Statistics for Business and Economics, Global Edition - Pearson

Using this forecast, the economist can predict (with a certain level of confidence) how the economy is likely to perform in the coming months and years. Additional Resources Reason 1: Statistics allows economists to understand the state of the economy using descriptive statistics. The definitive introduction to statistics by Anderson, Sweeney, Williams has now been expertly adapted for business and economics students across the United Kingdom, Europe, Middle East and Africa. Note: These types of descriptive statistics are used at every level of economics. For example, economists at the national level, state level, city level, county level, etc. all use descriptive statistics to gain a better understanding of the state of the economy in their area. Reason 2: Spot Trends Using Data Visualization For example, suppose an economist creates the following line chart that shows the overall unemployment rate in a certain city by year:Appendices A: Summation Notation B: Basic Counting Rules C: Calculation Formulas for Analysis of Variance Extend your professional development and meet your students where they are with free weekly Digital Learning NOW webinars. Attend live, watch on-demand, or listen at your leisure to expand your teaching strategies. Earn digital professional development badges for attending a live session.