Introduction to Business Analysis
Edition: 2
Copyright: 2023
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This textbook introduces the fundamental concepts of quantitative business analysis to students. It is written with the knowledge that most business school students have not had a full course in statistics and especially not one focusing on business applications. The problems lend themselves to the analytical side more than the mathematical side with the idea that the course is a tool for business students and not an end unto itself. An emphasis is placed on using computer software to solve realistic problems in terms of complexity and size.
Chapter One – Summarizing Data with Tables & Charts
Explores the use of descriptive statistics using Excel and MegaStat.
Discusses Scales of Measurement, Frequency Tables, Histograms, Frequency Polygons, Ogives, Box Plots, and Cross Tabulations.
Chapter Two – Describing Data with Numerical Summaries
Discusses Measures of Central Location and Variation, the Empirical Rule, Quality Control Limits and Control Charts, and Percentiles.
Chapter Three – Risk Analysis and Probability
Topics include Decision Under Uncertainty, Rules of Probability, Types of Distributions with emphasis on the Normal Distribution, Acceptance Samplings, Mathematical Expectation, Decision Analysis using Maximax, Maximin, Minimax Regret Matrices, and Laplace procedures.
Chapter Four – Sampling Methods & Sampling Distributions
Discusses Simple Random Sampling, Systematic, Stratified, and Cluster Sampling techniques along with the Central Limit Theorem, Sample Size Determination, and Sampling distributions for both quantitative and qualitative data.
Chapter Five – Statistical Estimation using Confidence Intervals
The chapter shows how to calculate confidence intervals for means when sigma is known and unknown and proportions for one and two sample populations.
Chapter Six – Inferential Statistics and Hypothesis Testing
Topics include how to set up a hypothesis, Type I and Type II Errors, p-values, and using Excel and MegaStat to calculate the proper test statistics for analysis.
Chapter Seven – Analysis of Count Data – Chi-Square Applications
Goodness of Fit Tests, Contingency Table Analysis, Crosstabs, and Normal Curve Goodness of Fit tests are discussed.
Chapter Eight – Analysis of Variance
The Field of Experimental Design, Completely Randomized Models, Randomized Block, and Factorial Designs are discussed.
Carolyn Hulme Turner attended Baylor as an undergraduate and graduate student. Her mentors included Dr. Helen Ligon, her brother, Fred Hulme, and Dr. Don Edwards. She began her education as environmental studies major, switched to marketing, then found my true niche in marketing research. Just as she was about to take a job as a consultant with Arthur Andersen, a teaching position in QBA and Information Systems opened. By emulating her brother’s teaching techniques, she found success and has been teaching at Baylor thirty-six years. She has consulted with all types of businesses including the health field--showing a relationship between smoke and hearing damage and how the establishment of a clinic for babies born in the neonatal unit reduces emergency room visits, to bank auditors -determining if loan applicants were discriminated against based on gender, race, or ethnicity, and even our local zoo—analyzing orangutans’ blood pressure measurements.
She plans to update her Introduction to Business Analytics text and include new data and projects each year to keep it fresh. All proceeds go to a scholarship fund in Fred Hulme’s name for a business analytics student.
This textbook introduces the fundamental concepts of quantitative business analysis to students. It is written with the knowledge that most business school students have not had a full course in statistics and especially not one focusing on business applications. The problems lend themselves to the analytical side more than the mathematical side with the idea that the course is a tool for business students and not an end unto itself. An emphasis is placed on using computer software to solve realistic problems in terms of complexity and size.
Chapter One – Summarizing Data with Tables & Charts
Explores the use of descriptive statistics using Excel and MegaStat.
Discusses Scales of Measurement, Frequency Tables, Histograms, Frequency Polygons, Ogives, Box Plots, and Cross Tabulations.
Chapter Two – Describing Data with Numerical Summaries
Discusses Measures of Central Location and Variation, the Empirical Rule, Quality Control Limits and Control Charts, and Percentiles.
Chapter Three – Risk Analysis and Probability
Topics include Decision Under Uncertainty, Rules of Probability, Types of Distributions with emphasis on the Normal Distribution, Acceptance Samplings, Mathematical Expectation, Decision Analysis using Maximax, Maximin, Minimax Regret Matrices, and Laplace procedures.
Chapter Four – Sampling Methods & Sampling Distributions
Discusses Simple Random Sampling, Systematic, Stratified, and Cluster Sampling techniques along with the Central Limit Theorem, Sample Size Determination, and Sampling distributions for both quantitative and qualitative data.
Chapter Five – Statistical Estimation using Confidence Intervals
The chapter shows how to calculate confidence intervals for means when sigma is known and unknown and proportions for one and two sample populations.
Chapter Six – Inferential Statistics and Hypothesis Testing
Topics include how to set up a hypothesis, Type I and Type II Errors, p-values, and using Excel and MegaStat to calculate the proper test statistics for analysis.
Chapter Seven – Analysis of Count Data – Chi-Square Applications
Goodness of Fit Tests, Contingency Table Analysis, Crosstabs, and Normal Curve Goodness of Fit tests are discussed.
Chapter Eight – Analysis of Variance
The Field of Experimental Design, Completely Randomized Models, Randomized Block, and Factorial Designs are discussed.
Carolyn Hulme Turner attended Baylor as an undergraduate and graduate student. Her mentors included Dr. Helen Ligon, her brother, Fred Hulme, and Dr. Don Edwards. She began her education as environmental studies major, switched to marketing, then found my true niche in marketing research. Just as she was about to take a job as a consultant with Arthur Andersen, a teaching position in QBA and Information Systems opened. By emulating her brother’s teaching techniques, she found success and has been teaching at Baylor thirty-six years. She has consulted with all types of businesses including the health field--showing a relationship between smoke and hearing damage and how the establishment of a clinic for babies born in the neonatal unit reduces emergency room visits, to bank auditors -determining if loan applicants were discriminated against based on gender, race, or ethnicity, and even our local zoo—analyzing orangutans’ blood pressure measurements.
She plans to update her Introduction to Business Analytics text and include new data and projects each year to keep it fresh. All proceeds go to a scholarship fund in Fred Hulme’s name for a business analytics student.