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Robert Stine - Statistics for Business: Decision Making and Analysis

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Robert Stine Statistics for Business: Decision Making and Analysis
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Statistics for Business Decision Making and Analysis Third Edition Robert - photo 1
Statistics for Business

Decision Making and Analysis

Third Edition

Robert Stine

Wharton School of the University of Pennsylvania

Dean Foster

Emeritus, Wharton School of the University of Pennsylvania

330 Hudson Street NY NY 10013 Director Portfolio Management Math - photo 2

330 Hudson Street, NY NY 10013

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For permission to use copyrighted material, grateful acknowledgment has been made to the copyright holders listed on p. , which is hereby made part of the copyright page.

Many of the designations by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, the designations have been printed in initial caps or all caps.

Microsoft and Windows are registered trademarks of the Microsoft Corporation in the U.S.A. and other countries. Screen shots and icons reprinted with permission from the Microsoft Corporation. This book is not sponsored or endorsed by or affiliated with the Microsoft Corporation.

MICROSOFT AND/OR ITS RESPECTIVE SUPPLIERS MAKE NO REPRESENTATIONS ABOUT THE SUITABILITY OF THE INFORMATION CONTAINED IN THE DOCUMENTS AND RELATED GRAPHICS PUBLISHED AS PART OF THE SERVICES FOR ANY PURPOSE. ALL SUCH DOCUMENTS AND RELATED GRAPHICS ARE PROVIDED AS IS WITHOUT WARRANTY OF ANY KIND. MICROSOFT AND/OR ITS RESPECTIVE SUPPLIERS HEREBY DISCLAIM ALL WARRANTIES AND CONDITIONS WITH REGARD TO THIS INFORMATION, INCLUDING ALL WARRANTIES AND CONDITIONS OF MERCHANTABILITY, WHETHER EXPRESS, IMPLIED OR STATUTORY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. IN NO EVENT SHALL MICROSOFT AND/OR ITS RESPECTIVE SUPPLIERS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES WHATSOEVER RESULTING FROM LOSS OF USE, DATA OR PROFITS, WHETHER IN AN ACTION OF CONTRACT, NEGLIGENCE OR OTHER TORTIOUS ACTION, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF INFORMATION AVAILABLE FROM THE SERVICES. THE DOCUMENTS AND RELATED GRAPHICS CONTAINED HEREIN COULD INCLUDE TECHNICAL INACCURACIES OR TYPOGRAPHICAL ERRORS. CHANGES ARE PERIODICALLY ADDED TO THE INFORMATION HEREIN. MICROSOFT AND/OR ITS RESPECTIVE SUPPLIERS MAY MAKE IMPROVEMENTS AND/OR CHANGES IN THE PRODUCT(S) AND/OR THE PROGRAM(S) DESCRIBED HEREIN AT ANY TIME. PARTIAL SCREEN SHOTS MAY BE VIEWED IN FULL WITHIN THE SOFTWARE VERSION SPECIFIED.

The student edition of this title has been catalogued at the Library of Congress as follows:

Library of Congress Cataloging-in-Publication Data

Names: Stine, Robert A., author. | Foster, Dean P., author.

Title: Statistics for business : decision making and analysis / ROBERT STINE, Wharton School of the University of Pennsylvania, DEAN FOSTER, Wharton School of the University of Pennsylvania.

Description: Third Edition. | Boston : Pearson, 2016. | Revised edition of the authors Statistics for business, 2013. | Includes index.

Identifiers: LCCN 2016016748| ISBN 9780134497167 (hardcover) | ISBN 0134497163 (hardcover)

Subjects: LCSH: Commercial statistics. | Statistics.

Classification: LCC HF1017.S74 2016 | DDC 519.502/465--dc23

LC record available at https://lccn.loc.gov/2016016748

Copyright 2018, 2014, 2011 Pearson Education, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. For information regarding permissions, request forms and the appropriate contacts within the Pearson Education Global Rights & Permissions department, please visit http://www.pearsoned.com/permissions/ .

Student Edition ISBN-13 978-0-13-449716-7 ISBN-10 0-13-449716-3 About the - photo 3

Student Edition:

ISBN-13: 978-0-13-449716-7

ISBN-10: 0-13-449716-3

About the Authors

Robert Stine holds a PhD from Princeton University He has taught at the - photo 4

Robert Stine holds a Ph.D. from Princeton University. He has taught at the Wharton School since 1983, during which time he has regularly taught business statistics. During his tenure, Bob has received a variety of teaching awards, including regularly winning the MBA Core Teaching Award, which is presented to faculty for outstanding teaching of the required curriculum at Wharton. He also received the David W. Hauck Award for Outstanding Teaching, awarded to the most highly rated faculty member teaching in the Wharton undergraduate program. Bob actively consults for industry. His clients include the pharmaceutical firms Merck and Pfizer, and he regularly works with the Federal Reserve Bank of Philadelphia on models for retail credit risk. This collaboration has produced three well-received conferences held at Wharton. His areas of research include computer software, time series analysis and forecasting, and general problems related to model identification and selection. Bob has published numerous articles in research journals, including the Journal of the American Statistical Association, Journal of the Royal Statistical Society, Biometrika, and The Annals of Statistics.

Dean Foster holds a PhD from the University of Maryland He has taught at the - photo 5

Dean Foster holds a Ph.D. from the University of Maryland. He has taught at the Wharton School since 1992 and previously taught at the University of Chicago. Dean has taught courses in introductory business statistics, probability and Markov chains, statistical computing, and advanced statistics for managers. Deans research areas are statistical inference for stochastic processes, game theory, machine learning, and variable selection. He is published in a wide variety of journals, including The Annals of Statistics, Operations Research, Games and Economic Behaviour, Journal of Theoretical Population Biology, and Econometrica. Currently Senior Principal Scientist at Amazon; Dean Foster is working on big data there, and his goal is to predict the sales of each and every product that Amazon sells.

Bob Stine and Dean Foster (along with Richard Waterman) have co-authored two casebooks: Basic Business Statistics (Springer-Verlag) and Business Analysis Using Regression (Springer-Verlag). These casebooks offer a collection of data analysis examples that motivate and illustrate key ideas of statistics, ranging from standard error to regression diagnostics and time series analysis. They also have collaborated on a number of research articles.

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