# Practical Business Statistics Sixth Edition

## Presentation on theme: "Practical Business Statistics Sixth Edition"— Presentation transcript:

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

Why did I Write this Book?
For the students! To make statistical methods more accessible to them by using many real data examples Student motivation is everything (almost) My goal: to make statistics as simple as possible without sacrificing technical correctness

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

Now at University of Washington’s Foster School of Business and Statistics Department Ph.D. in Statistics from Stanford while studying both theory and data analysis Also: University of Wisconsin and Harvard Worked with John Tukey at Princeton (he created exploratory data analysis) Published extensively in statistics, biotechnology, and finance

Shoveling snow as a child Consultant in advertising, portfolios, biotechnology, elections, and manufacturing Serve on a corporate board Maintain a sole proprietorship Helps me understand why business people need probability and statistics!

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

General Themes Lots of examples!
Real business data from finance, accounting, advertising, ... Writing style: how to think about a topic, how it works, what it implies, how it is useful Traditional methods and new insights Extra material to help the student Chapter summaries, key words, glossary, extensive index, PowerPoint slides, Excel Guide

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

Histograms and Bar Charts
To help students distinguish the histogram from the simple bar chart, for the data here is the example from page 39 of the Histograms Chapter (Chapter 3) which also mentions the advantage of the histogram for larger data sets.

Histogram, Box Plot, and CDF
To compare and contrast these three basic exploratory charts, here is the example from page 83 of Chapter 4 on Landmark Summaries.

Probability Trees Probability is less mysterious to students when there is a visual framework, as shown here in the example from page 144 of Chapter 6.

Hypothesis Testing Hypothesis testing is more intuitive when the confidence interval method is used (as shown here from pages of Chapter 10). The traditional t-statistic is also presented in detail.

Bivariate Data Examples
Relationships and regression are powerful business concepts. Here are a couple of the examples from Chapter 11 on Bivariate Data (pages 295 and 308).

The cost of advertising can be explained, in part, by magazine characteristics such as audience size and income level in this example that is used to illustrate the power of multiple regression in business, from Chapter 12.

Excel Guide The Excel Guide goes step-by-step through, chapter by chapter, to show students how Excel can be used to obtain statistical results. Here is the scatterplot example from page 82 of the Excel Guide.

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

Chapter Projects The project, in most chapters, gives students a chance to apply the lesson to a business area of their own choosing. Data might come from the Internet or from their own company Helps with motivation Helps with communications skills

The Writing Chapter (Chapter 13)
Explains how to communicate the results of a multiple regression In business, analysis is not enough. The ability to communicate is a key skill! The writing process is explained step-by-step with a full example of a sample report The chapter project might be used as the end-of-semester assignment

Outline Why I chose to write this book My background General themes
Selected examples Chapter projects and the writing chapter Conclusion and Summary

Conclusion and Summary
A book that helps and motivates students: Many real business examples with illustrations Clear, direct explanations of how and why Intuition, methods, and foundations Extra resources: Chapter summaries, key words, glossary, extensive index Questions, problems, database exercises, cases, projects PowerPoint slides, Excel Guide, and Instructor’s Manual

Thank you! Wishing you a successful teaching experience, Practical Business Statistics, Sixth Edition, Andrew F. Siegel (Andy) and Elsevier, Inc.