Introductory Business Statistics By Thomas Tiemann Pdf
Download Introductory Business Statistics By Thomas Tiemann Pdf book free online – from Introductory Business Statistics By Thomas Tiemann Pdf book; This book explains the following topics: Descriptive statistics and frequency distributions, The normal and t distributions, Making estimates, Hypothesis testing, The t-test, F-test and one-way anova, Regression basics.
How exact is statistics? Upon close inspection, you will find that statistics is not all that exact; sometimes I have
told my classes that statistics is “knowing when its close enough to call it equal”. When making estimations, you will
find that you are almost never exactly right. If you make the estimations using the correct method however, you will
seldom be far from wrong. The same idea goes for hypothesis testing. You can never be sure that you’ve made the
correct judgement, but if you conduct the hypothesis test with the correct method, you can be sure that the chance
you’ve made the wrong judgement is small.
A term that needs to be defined is probability. Probability is a measure of the chance that something will
occur. In statistics, when an inference is made, it is made with some probability that it is wrong (or some confidence
that it is right). Think about repeating some action, like using a certain procedure to infer the mean of a population,
over and over and over. Inevitably, sometimes the procedure will give a faulty estimate, sometimes you will be
wrong. The probability that the procedure gives the wrong answer is simply the proportion of the times that the
estimate is wrong. The confidence is simply the proportion of times that the answer is right. The probability of
something happening is expressed as the proportion of the time that it can be expected to happen. Proportions are
written as decimal fractions, and so are probabilities. If the probability that Foothill Hosiery’s best salesperson will
make the sale is .75, three-quarters of the time the sale is made.