Introduction to Quantitative Methods in Business

With Applications Using Microsoft Office Excel Set

AvBharat Kolluri,Michael J. Panik

Inbunden, Engelska, 2016

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Set includes Introduction to Quantitative Methods in Business: With Applications Using Microsoft Office Excel ISBN 978-1-119-22097-8 and the accompanying Solutions Manual ISBN 978-1-119-22102-9A well-balanced and accessible introduction to the elementary quantitative methods and Microsoft Office Excel applications used to guide business decision makingFeaturing quantitative techniques essential for modeling modern business situations, Introduction to Quantitative Methods in Business: With Applications Using Microsoft Office Excel provides guidance to assessing real-world data sets using Excel. The book presents a balanced approach to the mathematical tools and techniques with applications used in the areas of business, finance, economics, marketing, and operations.The authors begin by establishing a solid foundation of basic mathematics and statistics before moving on to more advanced concepts. The first part of the book starts by developing basic quantitative techniques such as arithmetic operations, functions and graphs, and elementary differentiations (rates of change), and integration. After a review of these techniques, the second part details both linear and nonlinear models of business activity. Extensively classroom-tested, Introduction to Quantitative Methods in Business: With Applications Using Microsoft Office Excel also includes: Numerous examples and practice problems that emphasize real-world business quantitative techniques and applicationsExcel-based computer software routines that explore calculations for an assortment of tasks, including graphing, formula usage, solving equations, and data analysisEnd-of-chapter sections detailing the Excel applications and techniques used to address data and solutions using large data setsA companion website that includes chapter summaries, Excel data sets, sample exams and quizzes, lecture slides, and an Instructors' Solutions ManualIntroduction to Quantitative Methods in Business: With Applications Using Microsoft Office Excel is an excellent textbook for undergraduate-level courses on quantitative methods in business, economics, finance, marketing, operations, and statistics. The book is also an ideal reference for readers with little or no quantitative background who require a better understanding of basic mathematical and statistical concepts used in economics and business.

Produktinformation

Utgivningsdatum:2016-09-27
Mått:152 x 229 x 8 mm
Vikt:218 g
Format:Inbunden
Språk:Engelska
Antal sidor:576
Förlag:John Wiley & Sons Inc
ISBN:9781119221074

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Bharat Kolluri, Ph.D., is Professor of Economics in the Department of Economics, Finance, and Insurance at the University of Hartford. A member of the American Economics Association, his research interests include econometrics, business statistics, quantitative decision making, applied macroeconomics, applied microeconomics, and corporate finance.Michael J. Panik, Ph.D., is Professor Emeritus in the Department of Economics, Finance, and Insurance at the University of Hartford. He has served as a consultant to the Connecticut Department of Motor Vehicles as well as to a variety of health care organizations. In addition, Dr. Panik is the author of numerous books, including Growth Curve Modeling: Theory and Applications and Statistical Inference: A Short Course, both published by Wiley.Rao N. Singamsetti, Ph.D., is Associate Professor in the Department of Economics, Finance, and Insurance at the University of Hartford. A member of the American Economics Association, his research interests include the status of war on poverty in the United States since the 1960s and forecasting foreign exchange rates using econometric methods.

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Innehållsförteckning

1. The Mathematical Toolbox: A Summary 1 1.2 Linear Functions 11.3.1 Solving Two Simultaneous Linear Equations 11.4 Summation Notation 21.5 Sets 31.6 Functions and Graphs 31.7 Working with Functions 41.8 Differentiation and Integration 5Solutions to Odd-Numbered Exercises 82. Applications of Linear and Nonlinear Functions: A Summary 322.2 Linear Demand and Supply Functions 322.3 Linear Total Cost and Total Revenue Functions 332.4 Market Equilibrium 332.6 Applications of Nonlinear Functions 342.7 Present Value of an Income Stream 352.8 Average Values 352.9 Marginal Values 362.10 Elasticity 36 Solutions to Odd-Numbered Exercises 373. Optimization: A Summary 473.2 Unconstrained Optimization 473.2.1 Models of Profit and Revenue Maximization 473.2.3 Solution Using the Calculus Approach 473.2.5 Solution Using the Calculus Approach 473.3 Models of Cost Minimization: Inventory Cost Functions and Economic Order Quantity (EOQ) 483.3.2 Solution Using the Calculus Approach 493.4 Constrained Optimization: Linear Programming 503.4.1 Linear Programming: Maximization 503.4.2 Linear Programming: Minimization 51Solutions to Odd-Numbered Exercises 524. What Is Business Statistics? 684.3 Descriptive Statistics: Tabular and Graphical Techniques 684.4 Descriptive Statistics: Numerical Measures of Central Tendency or Location of Data 704.4.1 Population Mean 704.4.2 Sample Mean 704.4.3 Weighted Mean 704.4.4 Mean of a Frequency Distribution: Grouped Data 714.4.5 Geometric Mean 714.4.6 Median 714.4.7 Quantiles, Quartiles, Deciles, and Percentiles 714.4.8 Mode 724.5 Descriptive Statistics: Measures of Dispersion (Variability or Spread) 734.5.2 Variance 734.5.3 Standard Deviation 744.5.4 Coefficient of Variation 744.5.5 Some Important Uses of the Standard Deviation 751. Standardization of Values 752. Chebysheff’s Theorem 754.5.6 Empirical Rule 754.6 Measuring Skewness 76Solutions to Odd-Numbered Exercises 765. Probability and Applications 965.2 Some Useful Definitions 965.3 Probability Sources 965.3.1 Objective Probability 965.4 Some Useful Definitions Involving Sets of Events in the Sample Space 965.5 Probability Laws 97 5.5.2 Rule of Complements 975.5.3 Conditional Probability 975.5.4 General Multiplication Rule (Product Rule) 975.5.5 Independent Events 985.5.6 Probability Tree Approach 985.6 Contingency Table 98Solutions to Odd-Numbered Exercises 1006. Random Variables and Probability Distributions 1056.2 Probability Distribution of a Discrete Random Variable X 1056.3 Expected Value, Variance, and Standard Deviation of a Discrete Random Variable 1066.3.1 Some Basic Rules of Expectation 1066.3.2 Some Useful Properties of the Variance of X 1076.4 Continuous Random Variables and Their Probability Distributions 1076.5 A Specific Discrete Probability Distribution: The Binomial Case 1086.5.1 Binomial Probability Distribution 1086.5.2 Mean and Standard Deviation of the Binomial Random Variable 1096.5.3 Cumulative Binomial Probability Distribution 110 Solutions to Odd-Numbered Exercises 110Index 119