Business Statistics A First Course, 8e Levine Test Bank

Business Statistics follows 5 guiding principles:

1. Help students see the relevance of statistics in their own careers by using examples from functional areas (e.g.,accounting, finance, marketing, etc.) that they may specialize in.
2. Emphasize interpretation and analysis of statistical results over calculation, as these activities are more important to students’ futures.
3. Give students ample practice in understanding how to apply statistics to business (e.g.,classroom examples and homework exercises involve actual or realistic data, and both small and large data sets).
4. Familiarize students with the use of data analysis software. Microsoft Excel, JMP, and Minitab are integrated into all topics to illustrate how software can help in the business decision-making process.
5. Provide clear data analysis software instructions to students so they understand how to use the programs.

A real-life business approach grounds statistics in everyday life, helping students see how the concepts they are learning apply to their future careers.

• NEW – An online First Things First chapter uses real-world examples to illustrate how developments such as the increasing use of business analytics and big data have made knowing and understanding stats that much more critical.
• NEW and REVISED – Using Statistics business scenarios open each chapter, providing context for the concepts and showing how statistics is used in key functional areas of business. At the end of the chapter, Using Statistics, Revisited, reinforces the statistical methods and applications just discussed. In the 8th Edition, 7 chapters have new or revised Using Statistics scenarios.
• A running end-of-chapter Case throughout the text helps integrate learning across chapters and topics.
• With Digital Cases, students examine interactive documents to sift through various claims and information to discover the conclusions and claims supported by the data. Learners also see how to identify common misuses of statistical information.

Pedagogical tools help keep students on track, providing an ideal framework for learning and understanding statistical concepts.

• End-of-Chapter/Section features reinforce students’ learning:
  • Exhibits summarize key processes throughout the book.
  • Key Terms provide definitions of important vocabulary used.
  • Learning the Basics questions test the basic concepts of a chapter.
  • Applying the Concepts problems test students’ ability to apply those problems to business problems.
  • Key Equations list boxed number equations that appear in a chapter.
• NEW and UPDATED – Statistical software (JMP, Excel, and Minitab) instructions, guides, and output throughout every chapter familiarize students with how to use these programs in business decision making, and allow learners to focus on interpreting data rather than mathematical computations. Examples were personally written by the authors, who collectively have over 100 years of experience teaching the application of software to business.
• 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.
• UPDATED – Tabular summaries now guide readers to reach conclusions and make decisions based on statistical information (Chapters 9 through 15). They help clarify the purpose of the statistical method and better illustrate the role of stats in the business decision-making process.
• NEW – A brand-new Business Analytics Chapter 17 makes extensive use of JMP and Minitab to illustrate predictive analytics for prediction, classification, clustering, and association as well as explaining what text analytics does and how descriptive and prescriptive analytics relate to predictive analytics.
• The DCOVA framework (Define, Collect, Organize, Visualize, and Analyze) is used throughout this text as an integrated approach for applying statistics to help solve business problems.
• Additional learning opportunities. Student Tips, LearnMore bubbles, and Consider This features extend student-paced learning by reinforcing important points or examining side issues, or answering questions that arise while studying business statistics such as “What is so ‘normal’ about the normal distribution?” An Appendix provides additional self-study opportunities via answers to the Self-Test problems and most of the even-numbered problems in the text.

Highly tailorable content and resources allow for flexibility in teaching and/or learning the material.

• With an extensive library of separate online topics, sections, and even two full chapters, instructors can combine these materials and the opportunities for additional learning to meet their curricular needs.
• With modularized software instructions, instructors and students can switch among statistical software (Excel, Excel with PHStat, JMP, and Minitab) as they use this book, taking advantage of the strengths of each program to enhance learning.

Also available with MyLab Business Statistics

MyLab™ is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student. For example, with Excel Projects students can organize, analyze, and interpret data, helping them hone their business decision-making skills. Learn more about MyLab Business Statistics.

Reach every student with MyLab

• Teach your course your way: Your course is unique. So whether you’d like to build your own assignments, teach multiple sections, or set prerequisites, MyLab gives you the flexibility to easily create your course to fit your needs.
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  • The Getting Ready for Statistics Library contains more than 450 exercises to ensure students have mastered the needed developmental math topics before beginning their statistics course. These are key for students who may need extra prerequisite support and can be added to any assignment.
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  • The Study Plan gives students personalized recommendations, practice opportunities, and learning aids to help them stay on track.
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