Schaum's Outline of Business Statistics

This is an excellent workbook of beginning to intermediate business statistics that needs some refinement to be great. You do not need to know calculus (although it would help) to understand all the concepts in this book. I highly recommend this book as a statistics workbook for other statistics book such as "Statistics for People who Hate Statistics". This book does not cover advanced statistics that require strong knowledge of calculus. Statistics is the principal language in business mathematics. Whenever there is a need to crunch a lot of data, statistics becomes central to the analysis of the data to make meaningful conclusions, decisions, and predictions. Because of exponential growth of data and data crunching capabilities brought on by the Information Technology revolution, the utility of statistics in the business world is greater than ever. If your organization utilizes data mining and analytics and Six Sigma, for example, your understanding of your business and your ability to make good strategic and tactical decisions will be greatly enhanced with the knowledge of statistics outlined in this book. Simply put, statistics is a powerful tool (not only for business). The book covers the following concepts: 1)Analyzing Business Data 2)Graphs 3)Descriptive Measures 4)Dispersion 5)Probability 6)Binomial, Normal, hypergeometric, and poission distribution 7)Sampling and confidence intervals 8)Hypotheses and testing them. 9)Chi Square 10)ANOVA 11)Regression and correlation 12)Business forecasting 13)Decision analysis 14)Statistical Process Control. My main problem with this book is its usability. There are many typos. For example, on page 127, one of the equation states "(30)(0.20)=60" when the answer clearly should have been "6.0". In addition, many questions are unnecessarily cumbersome adding to the frustration of learning statistics. For example, in the Chapter 10 "Testing Hypothesis", question 10.11 refers to q 10.10 which refers to q 10.9 which refers to q 10.3 which refers to q 10.2 which finally refers to q 10.1. Trying to solve some of the problems on that chapter left me upset on the unnecessarily complex web of question referrals. Overall, this is a very useful workbook on Business Statistics with decent explanations and good work problems.

very good book----I never read statistics before. Now I am securing A grade in weekly assignment refering this book

But still as boring as watching grass grow! Honestly, the methodology of statistics/economics/finance/accounting, etc: is a major "yawn" for many. I personally excel at "applied economics", in other words, "How does this affect me/you/us?" My professor used this book as a supplement to his "Statistics II" class, and it was "above average" in that regard, as was he. Just remember, if you need this type of book to understand the methodology of "bean-counting", then this is better than any other I've seen in it's type. IT IS A VERY HARD SUBJECT, SO YOU MUST BREAK YOUR BACK AND CONCENTRATE- THIS BOOK WILL HELP YOU TO DO THAT. THERE IS NO MAGIC-BULLET BOOK, that I know of, FOR STATISTICS II!!! STUDY HARD!!!

As a teacher I have found this book very practical for my students. It has plenty of resolved exercises, 100% of them focused on Business and Economics. Also this book introduces Statistics in a more "informal" way that makes it easier for a non-mathematician student to understand. It lacks strong statistic theory so if you are looking for a more profound book this is not what you would like to choose. But in terms of exercises is the best.

Another fine book by Schaum's outline. For anyone who has lost touch with the world of statistics, this book is a must read. It has clear definitions, examples and complicated explanations if you wish to dig deeper. I recommend this book to all college students, undergraduate and even MBA students. For financial analysis, marketing, and social research, this book is wonderful.