# Applied Statistics for Business and Management using by Linda Herkenhoff, John Fogli (auth.)

By Linda Herkenhoff, John Fogli (auth.)

Applied enterprise information for company and administration utilizing Microsoft Excel is the 1st publication to demonstrate the services of Microsoft Excel to educate utilized facts successfully. it's a step by step exercise-driven consultant for college kids and practitioners who have to grasp Excel to unravel useful statistical difficulties in undefined. If knowing information isn’t your most powerful go well with, you're not in particular mathematically-inclined, or while you're cautious of desktops, this can be the appropriate e-book for you. Excel, a largely to be had computing device application for college kids and executives, is additionally an efficient educating and studying instrument for quantitative analyses in statistics classes. Its strong computational skill and graphical features make studying facts a lot more straightforward than in years prior. besides the fact that, Applied enterprise records for enterprise and Management capitalizes on those advancements by means of educating scholars and practitioners how you can observe Excel to statistical recommendations invaluable of their classes and place of work. every one bankruptcy explains statistical formulation and directs the reader to take advantage of Excel instructions to resolve particular, easy-to-understand enterprise difficulties. perform difficulties are supplied on the finish of every bankruptcy with their solutions.

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What are the challenges in getting managers to accept this data? Parting Thought Facts are stubborn things, but statistics are more pliable. Problem Solutions 1. Prepare a pie chart showing annual sales as a proportion of total sales. Region North South East West Annual sales (\$) \$18,000 \$52,000 \$26,000 \$30,000 44 2 Introduction to Excel and Basic Charts Answer: Annual Sales North \$18,000 West \$30,000 East \$26,000 South \$52,000 2. Prepare a bar chart to show the number of mistakes made in a year by employees with different levels of expertise Expertise level Novice Apprentice Tradesmen Master tradesman # of mistakes 36 20 9 3 Answer: 3 Experience Level Master Tradesman 9 Tradesmen 20 Apprentice 36 Novice 0 10 20 30 40 # of Mistakes 3.

Median: The median of a data set refers to the value in the middle when the data values are arranged in ascending order. Half of the values are greater than this value and half are less than this value. The median may or may not correspond to a value in your data set; it is just a location. L. Herkenhoff and J. 1007/978-1-4614-8423-3_3, © Springer Science+Business Media New York 2013 47 48 3 Summarizing Data: Descriptive Statistics and Histograms • Mode: The mode of a data set refers to the value that occurs with the greatest frequency.

The access to Excel statistical functions is explained with applied examples. This chapter concludes with an important section on the pitfalls when working with histograms and the associated basic statistics. Central Tendency has to do with how the distribution of data clusters around the middle. We typically refer to this position using three important statistics: mean, median, or mode. • Mean: The mean of a data set refers to the arithmetic average of all the data values. To calculate the mean, sum all of the data and divide the sum by the number of data values.

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