Project Description
Business Analytics and Statistics, 2nd Edition
Black, Asafu-Adjaye, Burke, Perera, Sherwood, Wasimi
Interactive E-Text: 9781394189663, Print & Interactive E-Text Code: 9781394189670
Business Analytics & Statistics, 2nd Edition is designed for Australian and New Zealand students, offering a perfect blend of statistical theory, methods, and practical application. This concise yet comprehensive resource presents statistics in an engaging digital format, enriched with real-world insights, detailed Excel guides, and animated tutorials. Students will gain a practical understanding of statistical concepts and the tools to apply their knowledge effectively, ensuring academic and professional success.
Available on our affordable subscription platform, Wiley Business Now, it also includes an Instructor Resource Toolkit and is supported by our local Wiley team.
Table of Contents
1.2 Data driven decision making
1.3 The scope of business analytics
1.4 Statistics- the science of analytics
1.5 Machine learning in business analytics
1.6 Business analytics in action
Summary
Key terms
Review problems
References
2.2 Basic graphical displays of data
2.3 Multidimensional visualisation
2.4 Data visualisation tools
Summary
Key terms
Review problems
3.2 Measures of location
3.3 Measures of variability
3.4 Measures of shape
3.5 Measures of association
Summary
Key terms
Key equations
Review problems
Maths appendix
4.2 Structures of probability
4.3 Contingency tables and probability matrices
4.4 Additional laws
4.5 Multiplication laws
4.6 Conditional probability
Summary
Key terms
Key equations
Review problems
5.2 Describing a discrete distribution
5.3 Binominal distribution
5.4 Poisson distribution
Summary
Key terms
Key equations
Review problems
6.2 The standardised normal distribution
6.3 Solving normal distribution problems
6.4 The normal distribution approximation to the binomial distribution
6.5 The uniform distribution
6.6 The exponential distribution
Summary
Key terms
Key equations
Review problems
7.1 Sampling
7.2 Random versus nonrandom sampling
7.3 Types of errors from collecting sample data
7.4 Sampling distribution of the sample mean, X
7.5 Sampling distribution of the sample proportion, p̂
Summary
Key terms
Key equations
Review problems
8.1 Estimating the population mean using the z statistic (σ known)
8.2 Estimating the population mean using the t statistic (σ unknown)
8.3 Estimating the population proportion
8.4 Estimating the population variance
8.5 Estimating the sample size
Summary
Key terms
Key equations
Review problem
9.1 Hypothesis-testing fundamentals
9.2 The six-step approach to hypothesis testing
9.3 Hypothesis tests for a population mean: large sample case (z statistic, σ known)
9.4 Hypothesis tests about a population mean: small sample case (t statistic, σ unknown)
9.5 Testing hypotheses about a proportion
9.6 Testing hypotheses about a variance
9.7 Solving for Type II errors
Summary
Key terms
Key equations
Review problems
10.2 Hypothesis testing and confidence intervals for the difference between two means (t statistic, population variances unknown)
10.3 Statistical inferences about two populations with paired observations
10.4 Statistical inferences about two population proportions
10.5 Statistical inferences about two population variances
Summary
Key terms
Key equations
Review problems
Maths appendix 44
11.1 Introduction to design of experiments
11.2 The completely randomised design (one-way ANOVA)
11.3 Multiple comparisons tests
11.4 The randomised block design
11.5 A factorial design (two-way ANOVA)
Summary
Key terms
Key equations
Review problems
Maths appendix
12.2 Contingency analysis: chi-square test of independence
Summary
Key terms
Key equations
Review problems
13.2 Determining the equation of the regression line
13.3 Residual analysis
13.4 Standard error of the estimate
13.5 Coefficient o determination
13.6 Hypothesis tests for the slope of the regression model and testing the overall model
13.7 Estimation and prediction
Summary
Key terms
Key equations
Review problems
14.2 Significance tests of the regression model and it’s coefficients
14.3 Residuals, standard error of the estimate and R2
14.4 Interpreting multiple regression computer output
14.5 Individual performance measurement
14.6 Non-financial performance evaluation
14.7 Data visualisation
Summary
Key terms
Key equations
Review problems
15.1 The multiple regression model
15.2 Significance tests of the regression model and it’s coefficients
15.3 Least squares trend-based forecasting models
15.4 Autoregressive trend-based forecasting models
15.5 Evaluating alternative forecasting models
15.6 Index numbers
Summary
Key terms
Key equations
Review problems
Authors
Ken Black
John Asafu-Adjaye
Paul Burke
Nazim Khan
Gerard King
Nelson Perera
Andrew Papadimos
Carl Sherwood
Saleh Wasimi
Explore our content
Business Analytics & Statistics, 2nd Edition is designed for students navigating today’s business environment, emphasising the practical application of analytics.
This edition highlights the growing significance of statistics in decision-making, driven by advances in computing power, artificial intelligence, and big data. It integrates Excel more effectively, an essential skill for aspiring analysts. It focuses on building a thorough understanding of correct statistical methods, how to interpret the outputs — with an emphasis on decision-relevant insights — and how to communicate and justify findings and recommendations to others. Students can deepen their understanding through interactive examples and practical applications, ensuring an engaging and immersive learning experience.
By blending theory with real-world examples, this edition prepares students for successful careers in analytics.
What’s in Black’s Business Analytics and Statistics, 2nd Edition?
- Expanded Topics Focus: Chapter 1 on Data and Business Analytics focusing on key topics, including big data, machine learning, and data mining.
- Enhanced Excel Integration:
- “Using Excel” demonstration problems that clarify key functions and their applications.
- Excel screen capture videos (eText) guide students through statistical problem-solving.
- Downloadable Excel data sets (eText) for all exercises, enabling students to complete practice exercises without manually copying data from the book.
- Detailed Demonstration Problems (eText): Each chapter includes integrated problems with step-by-step solutions and animated demonstration problems in the eText.
- Practitioner Insights and Concept Animations (eText):
- “Practitioner Insight” videos featuring professionals discussing the application of statistics in business decision-making.
- Concept animation videos offering engaging visual explanations of key statistical concepts.
- Interactive Learning Tools (eText):
- Stepped tutorials using a “tell me, show me, let me” approach to facilitate understanding and practice.
- Concept check questions at the end of each chapter providing immediate feedback to assess comprehension.
- Quick Reference for Key Equations: A list of essential equations included at the end of each chapter for easy access.
Take a closer look:
Interactives and Key Features
Available as a interactive e-text or printed textbook, with both subscription or buy-to-own access models. This title empowers students to master concepts and excel in assessments. Lecturers are supported with an extensive, easy-to-use teaching and learning package.
The digital eText features interviews with business professionals from local Australian organisations, offering insights into how statistical information is used to support informed business decisions.
Practitioner videos (eText)
Interactive features such as "Using Excel" demonstration problems, an Excel primer, interactive activities, and screencasts are included to help students develop essential Excel skills while showcasing key functions and their practical applications.
Enhanced excel integration
Examines the rise of big data, machine learning, and data mining, highlighting their transformative impact across industries and their growing importance stasticial and analytical processes.
Data and business analytics
Demonstration problems are integrated throughout each chapter, stepping students through a detailed solutions to a range of statistical problem.
Demonstration problems
Our digital eText includes interactive step-by-step tutorials that offer clear explanations, detailed demonstrations, guided practice exercises, and constructive feedback to support and enhance student learning.
Stepped tutorials (eText)
Our eText features concept animation videos in every chapter which provide engaging, visual explanations of key statistical concepts.
Concept animations (eText)
Students can personalise their eText by highlighting and taking notes, as well as other useful features including read aloud.
Personalisation features (eText)
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Instructor Resource Toolkit
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Pre-made PowerPoint slides save you time in your course set-up, while the ability to customise the content means you can build it to suit your courses learning outcomes.
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