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Statistical Techniques in
Business and Economics
Douglas Lind, William Marchal, Samuel Wathen
ISBN: 9781260239478 / © 2021
SEE LIST OF CHANGES ATTACHED.
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18th Edition
McGraw-Hill Connect® is a course management and adaptive learning solution that enhances your unique voice and teaching style. As your partner, we’re committed to helping you achieve your course goals and unlock student potential. That’s why we’ve made meaningful updates to this edition. New In Connect: It All Starts with You
Smartbook® 2.0 – Our adaptive reading experience has
been made more personal, accessible, productive, and
mobile.
Interactive Data Problems – Data problems that allow
students to visualize and interact with data in different
ways. Students use this tool to manipulate data and
answer a variety of accompanying problems that test
multiple levels of understanding.
Applying Excel Problems – New! Assignable exercises
with associated Excel data files. Students click on the
assignment in Connect and link to data within Excel. They
use that data to solve the problem and then come back
into Connect to add the answer, which is auto-graded.
Excel Tutorial Videos – A set of professionally
developed videos to help students visualize and interpret
standard statistical techniques. Includes narrated step-
by-step explanations using data sets.
Algorithmic Test Bank – Auto-graded test bank
problems using different numeric values each time a
problem is served up to the student. They may also be
assigned to ensure that students are answering their own
work.
Business Statistics Prep Modules – BStat, Excel, and
Math modules are assignable in Connect as prerequisite
modules with brief short videos and check questions that
are auto-graded. Assigned early in the course, it gets all
students in the class on the same level of preparedness.
Learning that Fits Smartbook® 2. mheducation.link/smartbook
Changes to Lind: Statistical Techniques in Business and Economics, 18e For more information, contact your rep at mhhe.com/rep or visit mheducation.com CHAPTER 1: What Is Statistics?
- Updated graphic on data analytics.
- Updated examples.
- Newly revised Ethics and Statistics section.
- New exercise 17 requiring statistical software.
- Updated exercise 19. CHAPTER 2: Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation
- Updated examples.
- Updated exercises 33, 38, 47, 48.
- New exercise 44 using extensive data from the pizza industry requiring statistical software. CHAPTER 3: Describing Data: Numerical Measures
- Updated examples.
- Revised example/solution showing the calculation of the sample mean.
- Revised example/solution showing the calculation of the geometric mean.
- Revised example/solution showing the calculation of the sample standard deviation.
- Updated Statistics in Action with most recent Major League Baseball data.
- The section of the relative positions of the mean, median, and mode as well as the concept of skewness has been rewritten with new illustrations.
- Updated exercises 21, 23, 25, 30, 31, 32, 33, 34, 73, 77, 82. CHAPTER 4: Describing Data: Displaying and Exploring Data
- Updated examples.
- Revised section on computing quartiles.
- Box plots are generated with Excel with accompanying Connect tutorial.
- Updated exercise 16 with Boston Red Sox salary data.
- Updated Self-Review 4–5 that includes data.
- A new section on the correlation coefficient added to the major section, “Describing the Relationship Between Two Variables.”
- Exercises 17, 18, and 32 provide data and asks the user to produce scatter plots with statistical software.
- New exercise 24. CHAPTER 5: A Survey of Probability Concepts
- Updated examples.
- New exercises 90 and 93.
- Updated exercises 9, 10, and 58.
- Revised example/solution showing the calculation of empirical probability.
- New “Principles of Counting” example/solution based on blood type. CHAPTER 6: Discrete Probability Distributions
- Updated examples.
- New exercises 9, 10, 17, 18, 24, 25, 49, 66, 67, 68, 69.
- Updated exercise 5, 7, 8, 24, 58.
- New example/solution using the binomial distribution to predict purchase behavior with debit and credit cards.
Changes to Lind: Statistical Techniques in Business and Economics, 18e For more information, contact your rep at mhhe.com/rep or visit mheducation.com CHAPTER 7: Continuous Probability Distributions
- New opening page and exercise.
- Revised example/solution demonstrating the uniform probability distribution.
- For all uniform distribution examples and exercises, users are asked to compute the mean and standard deviation.
- Updated and revised exercise 1, 2, 5, 7, 8, 11, 12, 28.
- New exercises 15, 19, 20, 35, 36, 41, 43, 47, 55, 61.
- Added emphasis on defining the probability of a particular value of a continuous random variable to be zero.
- Removed the section: “The Normal Approximation to the Binomial.”
- Using statistical software, there is no need for approximations. CHAPTER 8: Sampling, Sampling Methods, and the Central Limit Theorem
- New chapter title: “Sample, Sampling Methods, and the Central
- Limit Theorem”
- New section titled: “Research and Sampling.” This section now introduces the idea of sampling by discussing the research process (i.e., posing a research question, collecting data, processing the data, and making data-based inferences and conclusions). The section also discusses ethical
- guidelines for selecting representative samples from populations.
- Revised Self-Review 8-1.
- Revised Statistics in Action about biased sampling.
- New section: “Sample Mean as a Random Variable.”
- Revised example/solution demonstrating sampling, the sample mean as a random variable, and the meaning and interpretation of sampling error.
- New section: “Standard Error of the Mean.”
- New Exercises 14, 15, and 16.
- Updated exercises 12, 13, 18, 19, 20, 21, 25, 26, 31, 32, 36. CHAPTER 9: Estimation and Confidence Intervals
- Introduction now connects Chapter 8 to Chapter 9 by discussing how sample data are used to estimate population parameters.
- More emphasis placed on the margin of error in the calculation and interpretation of a confidence interval.
- Revised example/solution demonstrating the calculation and interpretation of a confidence interval estimating a population mean.
- Revised example/solution demonstrating the calculation and interpretation of a confidence interval estimating a population proportion.
- Revised example/solution demonstrating the margin of error in computing a sample size.
- Section “Finite-Population Correction Factor” emphasizes the effect of finite populations on the margin of error.
- New exercises 17, 41, 42, 43, 44, 45, 46.
- Updated exercises 5, 11, 12, 19, 22, 25, 32, 33, 35, 37, 41, 42, 43, 44, 45, 46, 47, 51, 52, 54, 55, 58, 61. CHAPTER 10: One-Sample Tests of Hypothesis
- The chapter now relies on statistical software to compute p-values.
- Revised example/solution demonstrating the hypothesis testing procedure with added emphasis on the significance level and the Type I error probability.
- Revised Self-Review 10-1.
- Revised section titled: p-value in hypothesis testing.
Changes to Lind: Statistical Techniques in Business and Economics, 18e For more information, contact your rep at mhhe.com/rep or visit mheducation.com CHAPTER 19 Statistical Process Control and Quality Management
- Updated 2018 Malcolm Baldridge National Quality Award winners. CHAPTER 20: An Introduction to Decision Theory
- Updated exercises.
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