Introduction

The following sections are included:

• THE ROLE OF STATISTICS IN BUSINESS AND ECONOMICS

  • TV Show Ratings

  • ABC GPA

  • One, Two, Three, “Fore!”

  • Health Benefits of Oat Bran

  • Fertilizer Choice and Plant Growth Rate

• DESCRIPTIVE VERSUS INFERENTIAL STATISTICS

  • Baseball Players’ Batting Averages

  • Monthly Unemployment Rates

  • Comparison of Male and Female Earnings

  • Returns on Stocks and Bonds

  • Pitfalls of Comparing the Earnings of Males and Females

  • Sampling Survey of Residents’ Voting Decision

  • Unemployment Rate

  • Quality Control Via Sampling Data

  • A Record Drop in Stock Prices

• DEDUCTIVE VERSUS INDUCTIVE ANALYSIS IN STATISTICS

• Summary

• Questions and Problems