Statistics For Management is a detailed textbook on the subject of business statistics. It seeks to dispel the seeming complexity of the subject by presenting the concepts in a lucid and visually demonstrative manner.
The book begins with an overview of business statistics. Subsequent chapters cover topics like tables and graphs, probability, sampling, estimation, testing hypotheses, and quality and quality control. The last few chapters present concepts like chi-square, analysis of variance, simple regression and multiple regression, non-parametric methods, time series and forecasting, and index numbers. The book ends with a chapter on decision theory.
The concepts in the book are explained at length, and illustrative explanations are given precedence over complex mathematical notations. Also, each discussion is accompanied by examples that demonstrate one or more real world applications of the concepts. All the hypothesis tests are conducted using the standardized scale.
Every section ends with three types of exercises for practice—self-evaluative, basic, and application exercises. A very useful feature of the book is the Hints And Assumptions feature, which provides useful hints for solving the exercise problems and alerts the students about the commonly committed mistakes while solving them.
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