Statistics for Managers Using Microsoft Excel, 6/e

Statistics for Managers Using Microsoft Excel, 6/e

David M. Levine, Baruch College, City University of New York
David F. Stephan, Baruch College, City University of New York
Timothy C. Krehbiel, Miami University

Mark L. Berenson, Montclair State University
ISBN-10: 0137035195
ISBN-13: 9780137035199
Publisher: Prentice Hall
Copyright: 2011
Format: Paper; 796 pp
Published: 02/12/2010
Status: Instock
Companion website and then click on this title


  1. Introduction
  2. Organizing and Visualizing Data
  3. Descriptive Statistics
  4. Basic Probability
  5. Discrete Probability Distributions
  6. The Normal Distribution and Other Continuous Distributions
  7. Sampling and Sampling Distributions
  8. Confidence Interval Estimation
  9. Fundamentals of Hypothesis Testing: One-Sample Tests
  10. Two-Sample Tests
  11. Analysis of Variance
  12. Chi-Square Tests and Non-Parametric Tests
  13. Simple Linear Regression
  14. Introduction to Multiple Regression
  15. Multiple Regression Model Building
  16. Time-Series Forecasting
  17. Statistical Applications in Quality Management
  18. Data Analysis Overview
  19. Online Topic: Decision Making

Appendices A–G

<TTL>Self-Test Solutions and Answers to Selected Even-Numbered Problems


New to This Edition

Enhanced statistical content including

  • A revised and simplified notation for test statistics in hypothesis testing.
  • New chapter-ending “Using Statistics Revisited” sections that reinforce the statistical methods and applications discussed in each chapter.
  • The use of the DCOVA framework (Define, Collect, Organize, Visualize, and Analyze)  as an integrated approach for applying statistics to help solve business problems.
  • A new chapter (Chapter 18) that helps students apply the statistics learned in the previous 17 chapters to future real-world situations that require the analysis of data.
  • An expanded discussion of using PivotTables to summarize and explore multidimensional data.
  • Many new applied examples and exercises, with data from The Wall Street Journal, USA Today, and other sources.
  • Additional “Think About This” essays that provide greater insight into what has just been learned and raise important issues about the application of statistical knowledge.
  • Even more illustrated and annotated worksheet results that are directly linked to specific step-by-step instructions.

The instructions for using Excel have been revised, reorganized, and enhanced in new end-of-chapter Excel Guides and back-of-the book Appendices. These sections support students by:

  • Providing a readiness checklist and orientation that help guide students through the process of getting ready to use Excel (the Chapter 1 Excel Guide and Appendix B “Basic Excel Knowledge”).
  • Giving students the option to avoid using instructions that require the use of the Analysis ToolPak, the Excel component not included in Mac Excel 2008 and Calc 3, the freely available, open-source, Excel work-alike program.
  • Incorporating Excel Guide Workbooks that serve as models and templates for using Excel for statistical problem-solving. These free and reusable workbooks, annotated examples of which appear throughout the chapters of this book, can be used by students in their other courses or in their jobs.
  • Allowing students to choose to either maximize their in-depth learning of Excel specifics or minimize their time spent using Excel. Students can use In-Depth Excel instructions to discover low-level details such as the specifics of Excel worksheet functions and formulas or use PHStat2 instructions to directly create, through an automated process, completed results containing the low-level details discussed in the In-Depth Excel instructions. Using either  way, students end up with results that are consistent to the annotated Excel Guide Workbook results used as in-chapter illustrations!
  • Discussing a number of common operations, such as opening, saving, and printing workbooks as well as handy advanced features, such as Paste Special, that facilitate the use of Excel (the new Appendix C “Useful Excel Commands”)..
  • Presenting in one place all the technical instructions that a student may need, from how to use and download files from the book’s companion Web site to how to configure Excel for use with this book (the new Appendix D).
  • Answering frequently-asked questions about using Excel and PHStat2, the Pearson statistical add-in for Microsoft Windows-based Excel versions, that is free to students using this book (the new Appendix G).

These in-book resources are complemented by the following electronic media:

  • Downloadable data workbooks used by in-chapter examples and problems. (See Appendix F for a complete dictionary list of these files.)
  • The latest version of PHStat2, that comes with simplified setup instructions that no longer require the use of Excel Analysis ToolPak and Analysis ToolPak-VBA add-ins.
  • Downloadable self-documenting Excel Guide Workbooks that illustrate solutions for over 60 statistical topics and that serve as freely reusable templates for future problem-solving.
  • Electronic learning aids, including the end-of-chapter Web Cases, the optional Online Topics and Chapter 19 PDF files, and a guide for using Excel 2010 with this book. A complete companion Web site for the book that provides access to all electronic media and a link to MyStatLab .
  • This online homework, tutorial, and assessment system that provides book-specific sets of course materials, including free-response exercises that are algorithmically generated for unlimited practice and mastery. Students use MyStatLab to independently improve their understanding and performance in the course. Instructors use MyStatLab as part of a complete course management system that allows them to create their own homework assignments and assessments (or use those already created for use with this book) as well as to import and work with TestGen tests that were previously created.

Hallmark Features

We have continued many of the traditions of past editions and have highlighted some of these features below:

  • Using Statistics business scenarios—Each chapter begins with a Using Statistics example that shows how statistics is used in accounting, finance, information systems, management, or marketing. Each scenario is used throughout the chapter to provide an applied context for the concepts.
  • Emphasis on data analysis and interpretation of software results—We believe that the use of computer software is an integral part of learning statistics. Our focus emphasizes analyzing data by interpreting worksheet results while reducing emphasis on doing computations. For example, in the coverage of tables and charts in Chapter 2, the focus is on the interpretation of various charts and on when to use each chart. In our coverage of hypothesis testing in Chapters 9 through 12, extensive computer results have been included so that the p-value approach can be emphasized.
  • Pedagogical aides—An active writing style, boxed numbered equations, set-off examples to provide reinforcement for learning concepts, problems divided into “Learning the Basics” and “Applying the Concepts,” key equations, and key terms are included.
  • Answers Most answers to the even-numbered exercises are provided in an appendix at the end of the book.
  • Flexibility in the use of Excel— For almost every statistical method discussed, this book presents more than one way of using Excel. Students can use In-Depth Excel instructions to directly work with the worksheet cell-level details  or use the PHStat2 instructions or the Analysis ToolPak to automate the creation of those same details.
  • Web Cases—An end-of-chapter Web Case is included for each of the first 16 chapters. Each Web Case extends a Using Statistics business scenario by posing additional questions and raising issues about the scenario. Students visit Web pages to sift through claims and assorted information in order to discover the data most relevant to a scenario. Students then determine whether the conclusions and claims are supported by the data. In doing so, students discover and learn how to identify common misuses of statistical information. (Instructional tips for using the Web Cases and solutions to the Web Cases are included in the Instructor’s Solutions Manual.)
  • Case studies and team projects – Detailed case studies are included in numerous chapters. A “Managing the Springville Herald” continuing case and a team project related to mutual funds are included at the end of most chapters, and both serve to integrate learning across the chapters.
  • Visual Explorations—The Excel add-in workbook allows students to interactively explore important statistical concepts in descriptive statistics, the normal distribution, sampling distributions, and regression analysis. For example, in descriptive statistics, students observe the effect of changes in the data on the mean, median, quartiles, and standard deviation. With the normal distribution, students see the effect of changes in the mean and standard deviation on the areas under the normal curve. In sampling distributions, students use simulation to explore the effect of sample size on a sampling distribution. In regression analysis, students have the opportunity to fit a line and observe how changes in the slope and intercept affect the goodness of fit.