Statistics for Economics, Accounting and Business Studies

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Do you need to brush up on your statistical skills to truly excel in your economics or business course?

If you want to increase your confidence in statistics then this is the perfect book for you. The 6th edition of Statistics for Economics, Accounting and Business Studies continues to present a user-friendly and concise introduction to a variety of statistical tools and techniques. Throughout the text, the author demonstrates how and why these techniques can be used to solve real-life problems, highlighting common mistakes and assuming no prior knowledge of the subject.

About the Author

Michael Barrow is a Senior Lecturer in Economics at the University of Sussex. He has acted as a consultant for major, industrial, commercial and government bodies

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Contenu

Guided tour of the book

Preface to the sixth edition

Publisher’s acknowledgements

Introduction

1 Descriptive statistics

Introduction

Summarising data using graphical techniques

Looking at cross-section data: wealth in the UK in 2005

Summarising data using numerical techniques

The box and whiskers diagram

Time-series data: investment expenditures 1977–2009

Graphing bivariate data: the scatter diagram

Data transformations

The information and data explosion

Guidance to the student: how to measure your progress

Summary

Key terms and concepts

Reference

Problems

Answers to exercises

Appendix 1A: Σ notation

Appendix 1B: E and V operators

Appendix 1C: Using logarithms

2 Probability theory and statistical inference

The definition of probability

Probability theory: the building blocks

Bayes’ theorem

Decision analysis

Summary

Key terms and concepts

Problems

Answers to exercises

3 Probability distributions

Introduction

Random variables and probability distributions

The Binomial distribution

The Normal distribution

The sample mean as a Normally distributed variable

The relationship between the Binomial and Normal distributions

The Poisson distribution

Summary

Key terms and concepts

Problems

Answers to exercises

4 Estimation and confidence intervals

Introduction

Point and interval estimation

Rules and criteria for finding estimates

Estimation with large samples

Precisely what is a confidence interval?

Estimation with small samples: the t distribution

Summary

Key terms and concepts

Problems

Answers to exercises

Appendix: Derivations of sampling distributions

5 Hypothesis testing

Introduction

The concepts of hypothesis testing

The Prob-value approach

Significance, effect size and power

Further hypothesis tests

Hypothesis tests with small samples

Are the test procedures valid?

Hypothesis test and confidence intervals

Independent and dependent samples

Discussion of hypothesis testing

Summary

Key terms and concepts

Reference

Problems

Answers to exercises

6 The χ∼ and F distributions

Introduction

The χ∼ distribution

The F distibution

Analysis of variance

Summary

Key terms and concepts

Problems

Answers to exercises

Appendix: Use of χ∼ and F distribution tables

7 Correlation and regression

Introduction

What determines the birth rate in developing countries?

Correlation

Regression analysis

Inference in the regression model

Some other issues in regression

Gapminder again

Summary

Key terms and concepts

References

Problems

Answers to exercises

8 Multiple regression

Introduction

Principles of multiple regression

What determines imports into the UK?

Finding the right model

Summary

Key terms and concepts

Reference

Problems

Answers to exercises

9 Data collection and sampling methods

Introduction

Using secondary data sources

Using electronic sources of data

Collecting primary data

The meaning of random sampling

Calculating the required sample size

Collecting the sample

Case study: the UK Living Costs and Food Survey

Summary

Key terms and concepts

References

Problems

10 Index numbers

Introduction

A simple index number

A price index with more than one commodity

Using expenditures as weights

Quantity and expenditure indices

The Retail Price Index

Inequality indices

The Lorenz curve

The Gini coefficient

Concentration ratios

Summary

Key terms and concepts

Reference

Problems

Answers to exercises

Appendix: Deriving the expenditure share form of the Laspeyres price index

11 Seasonal adjustment of time-series data

Introduction

The components of a time series

Forecasting

Further issues

Summary

Key terms and concepts

Problems

Answers to exercises

Important formulae used in this book

Appendix: Tables

Answers to problems

Index