Statistics for Business and Economics is a comprehensive textbook that provides a thorough and practical introduction to statistics for students in business and economics. Written by Paul Newbold, William L. Carlson Professor of Economics and Business at the University of Illinois, the book covers a wide range of statistical topics, from basic concepts and methods to advanced techniques and applications. The book is divided into three parts. Part one focuses on basic statistical concepts, including data collection, descriptive statistics, and probability theory. Part two covers inferential statistics, including hypothesis testing, estimation, and regression analysis. Part three is devoted to more advanced topics such as time series analysis, multivariate analysis, and nonparametric methods.
Throughout the book, Newbold emphasizes the importance of understanding the context and purpose of statistical analysis. He provides numerous examples and case studies that demonstrate how statistical techniques can be applied to real-world problems in business and economics. The book also includes a variety of exercises and problems that allow students to practice and apply the concepts they have learned.
In addition to its comprehensive coverage of statistical theory and methods, Statistics for Business and Economics is also notable for its clear and accessible writing style. Newbold uses simple, straightforward language and avoids unnecessary technical jargon, making the book accessible to students with little or no background in statistics.
Overall, Statistics for Business and Economics is an excellent textbook for students in business and economics who need a solid understanding of statistical theory and methods. It is also a valuable resource for practitioners in these fields who need to use statistics in their work.