Practical Business Statistics, 5/e was written in response to instructors not wanting a formula driven, mathematically encyclopedic book. The use of computer applications means some topics no longer require coverage in detail. This allows future managers to know how to use and understand statistics. The text does this by using examples with real data that relate to the functional areas of business such as finance, accounting, and marketing. It de-emphasizes the theoretical, and presents the material in a well-written, easy style designed to motivate students. The emphasis is on understanding and applications as opposed to mathematical precision and formula detail.
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Book Description
Editorial Reviews
Amazon.com Review
Featured Excerpt from Practical Business Statistics, by Dr. Andrew Siegel
--This text refers to an alternate
Hardcover
edition.
I enjoy writing. I have presented the “inside scoop” wherever possible, explaining how we statisticians really think about a topic, what it implies, and how it is useful. This approach helps bring some sorely needed life to a subject that unfortunately suffers from dreadful public relations. Of course, the traditional explanations are also given here so that you can see it both ways: here is what we say, and here is what it means, all the while maintaining technical rigor. It thrilled me to hear even some of my more quantitative-phobic students tell me that the text is actually enjoyable to read! And this was after the final grades were in!
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From the Back Cover
Practical Business Statistics, Sixth Edition, is a conceptual, realistic, and matter-of-fact approach to managerial statistics that carefully maintains-but does not overemphasize-mathematical correctness. The book offers a deep understanding of how to learn from data and how to deal with uncertainty while promoting the use of practical computer applications. This teaches present and future managers how to use and understand statistics without an overdose of technical detail, enabling them to better understand the concepts at hand and to interpret results. The text uses excellent examples with real world data relating to the functional areas within Business such as finance, accounting, and marketing. It is well written and designed to help students gain a solid understanding of fundamental statistical principles without bogging them down with excess mathematical details.
Hallmark features: . User-friendly, lively writing style. . Separate writing chapter aids instructors in teaching how to explain quantitative analysis. . Over 200 carefully-drawn charts and graphs show how to visualize data. . Data mining is a theme that appears in many chapters, often featuring a large database (included on the website) of characteristics of 20,000 potential donors to a worthy cause and the amount actually given in response to a mailing. . Many of the examples and problems in the sixth edition have been updated with more recent data sets, and the ever-changing Internet continues to be featured as a data source. . Each chapter begins with an overview, showing why the subject is important to business, and ends with a comprehensive summary, with key words, questions, problems, database exercises, projects, and cases in most chapters. . All details are technically accurate (Professor Siegel has a PhD in Statistics from Stanford University and has given presentations on exploratory data analysis with its creator) while the book concentrates on the understanding and use of statistics by managers. . Features that have worked well for students and instructors in the first five editions have been retained.
--This text refers to an alternate Hardcover edition.
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Most Helpful Customer Reviews
16 of 17 people found the following review helpful:
5.0 out of 5 stars
Instead of a "mean" they should call it a "nice",
By A Customer
This review is from: Practical Business Statistics (Hardcover)
I had the privelege of taking an MBA level course from Andy Siegel. The style of the text reflects the simply, user-friendly way he communicates in class. Not having taken a stats class before, I was happy to find a professor who could take a dry, complex subject and make it interesting and relatively painless. More professors should use this text!
2 of 2 people found the following review helpful:
5.0 out of 5 stars
Good and gentle introduction to statistics,
By Nimrod Hoofien (Palo Alto, CA) - See all my reviews
This review is from: Practical Business Statistics with Student CD-ROM (Hardcover)
Prof. Siegel's book is a great introductory text for business graduates with little prior exposure to statistics. The text covers many of the basic topics in statistics and ties them nicely to real world cases and problems.
The book starts with a description of the basic constructs of statistics - data sets, distributions, and variability. IT follows with an introduction to probability and covers random variables. The text continues to cover statistical inference, confidence intervals, and hypothesis testing. Finally the book gets to regression and time series analysis and demonstrates several applications of the techniques covered. The book comes with a CD that contains lecture presentations (very useful), all the data sets in the books (saves you typing), and an excel add-on called StatPad that provides many useful statistical tools. Overall I think that this text is a good choice for MBA students and business professionals with little background in statistics. It is very user-friendly and is well grounded in business.
1 of 1 people found the following review helpful:
5.0 out of 5 stars
Simple Stats Book I've used till date,
By Gautham B "Amazon Aficionado" (Lubbock, TX) - See all my reviews
Amazon Verified Purchase(What's this?)
This review is from: Practical Business Statistics (Mcgraw-Hill/Irwin Series Operations and Decision Sciences) (Hardcover)
I don't have a great extensive experience in reviewing Statistics books, except to say, I usually found all of them confusing (more like me being so). But this book comes across as very well explained and simple to understand.
Would recommend this! Along with "The Lady Tasting Tea" for a thorough understanding for the history and theory behind stats, wonderfully explained!
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