STATISTICAL ANALYSIS IN BUSINESS AND ECONOMICS
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The proper usage of various statistical techniques is very important for meaningful and successful research. Unfortunately, various books on statistics just introduce the readers to the techniques and calculations methods but do not explain their usage and meaningful interpretation, which a researcher desperately needs. This book is designed to provide a basic understanding and application of statistical methods that are used in the field of business and economics.
This book is based on my more than twenty-six years of teaching and research experience in business and economics. The target readers for this book are students of business and economics, who are taking a statistics course and those who want to write research articles for academic journals. This book can also be used as a reference book for the Econometrics and Research Methods courses. The beginners in research can also use this book as a quick reference for different statistical techniques and their usage.
It is very difficult for the teachers and students to find a book exclusively on a statistical analysis in business and economics. It is observed that in most of the previous books on statistics for business and economics, the systematic flow of concept is not followed. The author normally presents a concept in the text before it is discussed in detail. This book tried to follow a systematic flow of statistical concepts. Whenever a concept is introduced, it is discussed in detail to give the readers complete information at once. Furthermore, a Statistician, who lacks knowledge of business and economics, writes most of the statistics books. There was a great need for a book that is written by an economist who should be well aware of the requirement of business and economics students.
This book has fourteen chapters. The sequence of the topics is also as per the syllabus of the Statistics course of BS(Economics), BS(Commerce), and BS(Business Administration) degree programs. Each chapter begins with a set of learning outcomes. At the start of each chapter, an introduction is added, to introduce the reader to the content of the chapter. Whenever a formula is used for the first time, it is numbered for easy reference. The notations and abbreviations are explained properly. Each concept is followed by the solved example in the text with all calculations and interpretations. The Multiple Choice Question-MCQs are also given for self-test. It will help the readers to test their understanding of the concepts of the chapters.
The computer has reduced the need for laborious hand calculation. The computer can perform calculations faster and more accurately with the use of packages than humans. This book introduces the students, to two statistical packages – SPSS and EViews. To show how software is getting a result, this book illustrates this with all relevant steps. The focus of this book is more on the interpretation of the results.
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