This book shows the capabilities of Microsoft Excel in teaching business statistics effectively. Similar to the previously published __Excel 2010 for Business Statistics__, this book is a step-by-step exercise-driven guide for students and practitioners who need to master Excel to solve practical business problems. If understanding statistics isn’t your strongest suit, you are not especially mathematically-inclined, or if you are wary of computers, this is the right book for you.
Excel, a widely available computer program for students and managers, is also an effective teaching and learning tool for quantitative analyses in business courses. Its powerful computational ability and graphical functions make learning statistics much easier than in years past. However, __Excel 2016 for Business Statistics: A Guide to Solving Practical Problems__ is the first book to capitalize on these improvements by teaching students and managers how to apply Excel to statistical techniques necessary in their courses and work.
Each chapter explains statistical formulas and directs the reader to use Excel commands to solve specific, easy-to-understand business problems. Practice problems are provided at the end of each chapter with their solutions in an appendix. Separately, there is a full Practice Test (with answers in an Appendix) that allows readers to test what they have learned.

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Quirk, Thomas J.

Springer Nature Switzerland AG

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Springer Verlag

Springer Nature (Textbooks & Major Reference Works), Cham, 2016

Excel for statistics, Cham], Switzerland, 2016

1st ed. 2016, 2016-09-12

Switzerland, Switzerland

1st ed. 2016, PS, 2016

Sep 12, 2016

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producers:
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Source title: Excel 2016 for Business Statistics: A Guide to Solving Practical Problems (Excel for Statistics)

Preface 8
Acknowledgments 10
Contents 12
Chapter 1: Sample Size, Mean, Standard Deviation, and Standard Error of the Mean 17
1.1 Mean 17
1.2 Standard Deviation 18
1.3 Standard Error of the Mean 19
1.4 Sample Size, Mean, Standard Deviation, and Standard Error of the Mean 20
1.4.1 Using the Fill/Series/Columns Commands 20
1.4.2 Changing the Width of a Column 21
1.4.3 Centering Information in a Range of Cells 22
1.4.4 Naming a Range of Cells 24
1.4.5 Finding the Sample Size Using the =COUNT Function 25
1.4.6 Finding the Mean Score Using the =AVERAGE Function 25
1.4.7 Finding the Standard Deviation Using the =STDEV Function 26
1.4.8 Finding the Standard Error of the Mean 26
1.4.8.1 Formatting Numbers in Number Format (2 Decimal Places) 27
1.5 Saving a Spreadsheet 28
1.6 Printing a Spreadsheet 29
1.7 Formatting Numbers in Currency Format (2 Decimal Places) 31
1.8 Formatting Numbers in Number Format (3 Decimal Places) 33
1.9 End-of-Chapter Practice Problems 33
Reference 36
Chapter 2: Random Number Generator 37
2.1 Creating Frame Numbers for Generating Random Numbers 37
2.2 Creating Random Numbers in an Excel Worksheet 41
2.3 Sorting Frame Numbers into a Random Sequence 42
2.4 Printing an Excel File So That All of the Information Fits onto One Page 45
2.5 End-of-Chapter Practice Problems 50
Reference 51
Chapter 3: Confidence Interval About the Mean Using the TINV Function and Hypothesis Testing 52
3.1 Confidence Interval About the Mean 52
3.1.1 How to Estimate the Population Mean 52
3.1.2 Estimating the Lower Limit and the Upper Limit of the 95 Percent Confidence Interval About the Mean 53
3.1.3 Estimating the Confidence Interval the Chevy Impala in Miles Per Gallon 54
3.1.4 Where Did the Number ``1.96 ́ ́ Come From? 55
3.1.5 Finding the Value for t in the Confidence Interval Formula 56
3.1.6 Using Excel ́s TINV Function to Find the Confidence Interval About the Mean 57
3.1.7 Using Excel to Find the 95 Percent Confidence Interval for a Car ́s mpg Claim 57
3.2 Hypothesis Testing 63
3.2.1 Hypotheses Always Refer to the Population of People or Events That You Are Studying 63
3.2.2 The Null Hypothesis and the Research (Alternative) Hypothesis 64
3.2.2.1 Determining the Null Hypothesis and the Research Hypothesis When Rating Scales Are Used 65
3.2.3 The 7 Steps for Hypothesis-Testing Using the Confidence Interval About the Mean 67
3.2.3.1 STEP 1: State the Null Hypothesis and the Research Hypothesis 67
3.2.3.2 STEP 2: Select the Appropriate Statistical Test 68
3.2.3.3 STEP 3: Calculate the Formula for the Statistical Test 68
3.2.3.4 STEP 4: Draw a Picture of the Confidence Interval About the Mean, Including the Mean, the Lower Limit of the Interval,... 68
3.2.3.5 STEP 5: Decide on a Decision Rule 68
3.2.3.6 STEP 6: State the Result of Your Statistical Test 68
3.2.3.7 STEP 7: State the Conclusion of Your Statistical Test in Plain English! 69
3.3 Alternative Ways to Summarize the Result of a Hypothesis Test 73
3.3.1 Different Ways to Accept the Null Hypothesis 73
3.3.2 Different Ways to Reject the Null Hypothesis 74
3.4 End-of-Chapter Practice Problems 74
References 79
Chapter 4: One-Group t-Test for the Mean 80
4.1 The 7 STEPS for Hypothesis-Testing Using the One-Group t-Test 80
4.1.1 STEP 1: State the Null Hypothesis and the Research Hypothesis 81
4.1.2 STEP 2: Select the Appropriate Statistical Test 81
4.1.3 STEP 3: Decide on a Decision Rule for the One-Group t-Test 81
4.1.3.1 Finding the Absolute Value of a Number 81
4.1.4 STEP 4: Calculate the Formula for the One-Group t-Test 82
4.1.5 STEP 5: Find the Critical Value of t in the t-Table in Appendix E 83
4.1.6 STEP 6: State the Result of Your Statistical Test 84
4.1.7 STEP 7: State the Conclusion of Your Statistical Test in Plain English! 84
4.2 One-Group t-Test for the Mean 85
4.3 Can You Use Either the 95 Percent Confidence Interval About the Mean OR the One-Group t-Test When Testing Hypotheses? 89
4.4 End-of-Chapter Practice Problems 89
References 94
Chapter 5: Two-Group t-Test of the Difference of the Means for Independent Groups 95
5.1 The 9 STEPS for Hypothesis-Testing Using the Two-Group t-Test 96
5.1.1 STEP 1: Name One Group, Group 1, and the Other Group, Group 2 96
5.1.2 STEP 2: Create a Table That Summarizes the Sample Size, Mean Score, and Standard Deviation of Each Group 96
5.1.3 STEP 3: State the Null Hypothesis and the Research Hypothesis for the Two-Group t-Test 97
5.1.4 STEP 4: Select the Appropriate Statistical Test 98
5.1.5 STEP 5: Decide on a Decision Rule for the Two-Group t-Test 98
5.1.6 STEP 6: Calculate the Formula for the Two-Group t-Test 98
5.1.7 STEP 7: Find the Critical Value of t in the t-Table in Appendix E 99
5.1.7.1 Finding the Degrees of Freedom (df) for the Two-Group t-Test 99
5.1.8 STEP 8: State the Result of Your Statistical Test 100
5.1.9 STEP 9: State the Conclusion of Your Statistical Test in Plain English! 100
5.1.9.1 Writing the Conclusion of the Two-Group t-Test When You Accept the Null Hypothesis 100
5.1.9.2 Writing the Conclusion of the Two-Group t-Test When You Reject the Null Hypothesis and Accept the Research Hypothesis 102
5.2 Formula #1: Both Groups Have More Than 30 People in Them 104
5.2.1 An Example of Formula #1 for the Two-Group t-Test 105
5.3 Formula #2: One or Both Groups Have Less Than 30 People in Them 111
5.4 End-of-Chapter Practice Problems 117
References 120
Chapter 6: Correlation and Simple Linear Regression 121
6.1 What Is a ``Correlation? ́ ́ 121
6.1.1 Understanding the Formula for Computing a Correlation 126
6.1.2 Understanding the Nine Steps for Computing a Correlation, r 126
6.2 Using Excel to Compute a Correlation Between Two Variables 128
6.3 Creating a Chart and Drawing the Regression Line onto the Chart 132
6.3.1 Using Excel to Create a Chart and the Regression Line Through the Data Points 133
6.3.1.1 Drawing the Regression Line Through the Data Points in the Chart 138
6.3.1.2 Moving the Chart Below the Table in the Spreadsheet 140
6.3.1.3 Making the Chart ``Longer ́ ́ So That It Is ``Taller ́ ́ 140
6.3.1.4 Making the Chart ``Wider ́ ́ 141
6.4 Printing a Spreadsheet So That the Table and Chart Fit onto One Page 141
6.5 Finding the Regression Equation 143
6.5.1 Installing the Data Analysis ToolPak into Excel 144
6.5.1.1 Installing the Data Analysis ToolPak into Excel 2016 144
6.5.1.2 Installing the Data Analysis ToolPak into Excel 2013 145
6.5.1.3 Installing the Data Analysis ToolPak into Excel 2010 146
6.5.1.4 Installing the Data Analysis ToolPak into Excel 2007 146
6.5.1.5 Installing the Data Analysis ToolPak into Excel 2003 147
6.5.2 Using Excel to Find the SUMMARY OUTPUT of Regression 147
6.5.2.1 Finding the y-intercept, a, of the Regression Line 151
6.5.2.2 Finding the Slope, b, of the Regression Line 151
6.5.3 Finding the Equation for the Regression Line 152
6.5.4 Using the Regression Line to Predict the y-Value for a Given x-Value 152
6.6 Adding the Regression Equation to the Chart 153
6.7 How to Recognize Negative Correlations in the SUMMARY OUTPUT Table 156
6.8 Printing Only Part of a Spreadsheet Instead of the Entire Spreadsheet 156
6.8.1 Printing Only the Table and the Chart on a Separate Page 157
6.8.2 Printing Only the Chart on a Separate Page 157
6.8.3 Printing Only the SUMMARY OUTPUT of the Regression Analysis on a Separate Page 158
6.9 End-of-Chapter Practice Problems 158
References 162
Chapter 7: Multiple Correlation and Multiple Regression 163
7.1 Multiple Regression Equation 163
7.2 Finding the Multiple Correlation and the Multiple Regression Equation 165
7.3 Using the Regression Equation to Predict Annual Sales 169
7.4 Using Excel to Create a Correlation Matrix in Multiple Regression 170
7.5 End-of-Chapter Practice Problems 173
References 178
Chapter 8: One-Way Analysis of Variance (ANOVA) 179
8.1 Using Excel to Perform a One-Way Analysis of Variance (ANOVA) 181
8.2 How to Interpret the ANOVA Table Correctly 183
8.3 Using the Decision Rule for the ANOVA F-Test 183
8.4 Testing the Difference Between Two Groups Using the ANOVA t-Test 184
8.4.1 Comparing Dierberg ́s vs. Shop `n Save in Their Prices Using the ANOVA t-Test 185
8.4.1.1 Finding the Degrees of Freedom for the ANOVA t-Test 186
8.4.1.2 Stating the Decision Rule for the ANOVA t-Test 186
8.4.1.3 Performing an ANOVA t-Test Using Excel commands 187
8.5 End-of-Chapter Practice Problems 189
References 196
Appendices 197
Appendix A: Answers to End-of-Chapter Practice Problems 197
Appendix B: Practice Test 231
Appendix C: Answers to Practice Test 243
Appendix D: Statistical Formulas 253
Appendix E: t-Table 255
Index 256

This book shows the capabilities of Microsoft Excel in teaching business statistics effectively. Similar to the previously published Excel 2010 for Business Statistics, this book is a step-by-step exercise-driven guide for students and practitioners who need to master Excel to solve practical business problems. If understanding statistics isn't your strongest suit, you are not especially mathematically-inclined, or if you are wary of computers, this is the right book for you. Excel, a widely available computer program for students and managers, is also an effective teaching and learning tool for quantitative analyses in business courses. Its powerful computational ability and graphical functions make learning statistics much easier than in years past. However, Excel 2016 for Business Statistics: A Guide to Solving Practical Problems is the first book to capitalize on these improvements by teaching students and managers how to apply Excel to statistical techniques necessary in their courses and work. Each chapter explains statistical formulas and directs the reader to use Excel commands to solve specific, easy-to-understand business problems. Practice problems are provided at the end of each chapter with their solutions in an appendix. Separately, there is a full Practice Test (with answers in an Appendix) that allows readers to test what they have learned. Includes 167 illustrations in color Suitable for undergraduate and graduate students At the beginning of his academic career, Prof. Tom J. Quirk spent six years in educational research at The American Institutes for Research and Educational Testing Service. He then taught Social Psychology, Educational Psychology, General Psychology, Marketing, Management, and Accounting at Principia College, and is currently a Professor of Marketing in the George Herbert Walker School of Business & Technology at Webster University based in St. Louis, Missouri (USA) where he teaches Marketing Statistics, Marketing Research, and Pricing Strategies. He has written 60+ textbook supplements in Marketing and Management, published 20+ articles in professional journals, and presented 20+ papers at professional meetings. He holds a B.S. in Mathematics from John Carroll University, both an M.A. in Education and a Ph.D. in Educational Psychology from Stanford University, and an M.B.A. from The University of Missouri-St. Louis

This book shows the capabilities of Microsoft Excel in teaching business statistics effectively. Similar to the previously published Excel 2010 for Business Statistics, this book is a step-by-step exercise-driven guide for students and practitioners who need to master Excel to solve practical business problems. If understanding statistics isn your strongest suit, you are not especially mathematically-inclined, or if you are wary of computers, this is the right book for you. Excel, a widely available computer program for students and managers, is also an effective teaching and learning tool for quantitative analyses in business courses. Its powerful computational ability and graphical functions make learning statistics much easier than in years past. However, Excel 2016 for Business Statistics: A Guide to Solving Practical Problems is the first book to capitalize on these improvements by teaching students and managers how to apply Excel to statistical techniques necessary in their courses and work. Each chapter explains statistical formulas and directs the reader to use Excel commands to solve specific, easy-to-understand business problems. Practice problems are provided at the end of each chapter with their solutions in an appendix. Separately, there is a full Practice Test (with answers in an Appendix) that allows readers to test what they have learned. Includes 167 illustrations in color Suitable for undergraduate and graduate students At the beginning of his academic career, Prof. Tom J. Quirk spent six years in educational research at The American Institutes for Research and Educational Testing Service. He then taught Social Psychology, Educational Psychology, General Psychology, Marketing, Management, and Accounting at Principia College, and is currently a Professor of Marketing in the George Herbert Walker School of Business & Technology at Webster University based in St. Louis, Missouri (USA) where he teaches Marketing Statistics, Marketing Research, and Pricing Strategies. He has written 60+ textbook supplements in Marketing and Management, published 20+ articles in professional journals, and presented 20+ papers at professional meetings. He holds a B.S. in Mathematics from John Carroll University, both an M.A. in Education and a Ph. D. in Educational Psychology from Stanford University, and an M.B.A. from The University of Missouri-St. Louis

"This book shows the capabilities of Microsoft Excel to teach business statistics effectively. Similar to the previously published Excel 2013 for business statistics,this book is a step-by-step exercise-driven guide for students and practitioners who need to master Excel to solve practical business problems. If understanding statistics isn't your strongest suit, you are not especially mathematically-inclined, or if you are wary of computers, this is the right book for you. Excel, a widely available computer program for students and managers, is also an effective teaching and learning tool for quantitative analyses in business courses. Its powerful computational ability and graphical functions make learning statistics much easier than in years past. However, Excel 2016 for Business Statistics: A Guide to Solving Practical Problems is the first book to capitalize on these improvements by teaching students and managers how to apply Excel to statistical techniques necessary in their courses and work. Each chapter explains statistical formulas and directs the reader to use Excel commands to solve specific, easy-to-understand business problems. Practice problems are provided at the end of each chapter with their solutions in an Appendix. Separately, there is a full Practice Test (with answers in an Appendix) that allows readers to test what they have learned"--Back cover

Front Matter....Pages i-xv
Sample Size, Mean, Standard Deviation, and Standard Error of the Mean....Pages 1-20
Random Number Generator....Pages 21-35
Confidence Interval About the Mean Using the TINV Function and Hypothesis Testing....Pages 37-64
One-Group t-Test for the Mean....Pages 65-79
Two-Group t-Test of the Difference of the Means for Independent Groups....Pages 81-106
Correlation and Simple Linear Regression....Pages 107-148
Multiple Correlation and Multiple Regression....Pages 149-164
One-Way Analysis of Variance (ANOVA)....Pages 165-182
Back Matter....Pages 183-244

2016-11-20