Step-by-Step Business Math and Statistics
Step-by-Step Business Math and Statistics
By Jin W. Choi
Included in this preview: ? Copyright Page ? Table of Contents ? Excerpt of Chapter 1
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Step-by-Step Business Math and Statistics
Jin W. Choi
DePaul University
Copyright ? 2011 by Jin W. Choi. All rights reserved. No part of this publication may be reprinted, reproduced, transmitted, or utilized in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying, microfilming, and recording, or in any information retrieval system without the written permission of University Readers, Inc.
First published in the United States of America in 2011 by University Readers, Inc.
Trademark Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.
15 14 13 12 11
1 2 3 4 5
Printed in the United States of America
ISBN: 978-1-60927-872-4
Contents
Acknowledgments
v
Part 1. Business Mathematics
Chapter 1. Algebra Review
1
Chapter 2. Calculus Review
42
Chapter 3. Optimization Methods
67
Chapter 4. Applications to Economics
85
Part 2. Business Statistics
Chapter 1. Introduction
108
Chapter 2. Data Collection Methods
115
Chapter 3. Data Presentation Methods
122
Chapter 4. Statistical Descriptive Measures
133
Chapter 5. Probability Theory
157
Chapter 6. Discrete Probability Distributions
179
Chapter 7. The Normal Probability Distribution
195
Chapter 8. The t-Probability Distribution
218
Chapter 9. Sampling Distributions
228
Chapter 10. Confidence Interval Construction
249
Chapter 11. One-Sample Hypothesis Testing
264
Chapter 12. Two-Sample Hypothesis Testing
312
Chapter 13. Simple Regression Analysis
334
Chapter 14. Multiple Regression Analysis
382
Chapter 15. The Chi-Square Test
412
Appendix: Statistical Tables
428
Subject Index
437
Acknowledgments
I would like to thank many professors who had used this book in their classes. Especially, Professors Bala Batavia, Burhan Biner, Seth Epstein, Teresa Klier, Jin Man Lee, Norman Rosenstein, and Cemel Selcuk had used previous editions of this book in teaching GSB420 Applied Quantitative Analysis at DePaul University. Their comments and feedbacks were very useful in making this edition more user-friendly.
Also, I would like to thank many current and past DePaul University's Kellstadt Graduate School of Business MBA students who studied business mathematics and statistics using the framework laid out in this book. Their comments and feedbacks were equally important and useful in making this book an excellent guide into the often-challenging fields of mathematics and statistics. I hope and wish that the knowledge gained via this book would help them succeed in their business endeavors.
As is often the case with equations and numbers, I am sure this book still has some errors. If you find some, please let me know at jchoi@depaul.edu.
Best wishes to those who use this book. Jin W. Choi, Ph.D. Kellstadt Graduate School of Business DePaul University Chicago, IL 60604 jchoi@depaul.edu
Acknowledgments v
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