UNIT I

INTRODUCTION

The study of business statistics is important, valuable, and interesting. However, because it involves a new language of terms, symbols, logic, and application of mathematics, it can be at times overwhelming. For many students, this text is their first and only introduction to business statistics, which instructors often teach as a “survey course.” That is, the student is presented with an overview of the subject, including a waterfront of techniques, concepts, and formulas. It can be overwhelming! One of the main difficulties in studying business statistics in this way is to be able to see “the forest for the trees,” that is, sorting out the myriad of topics so they make sense. With this in mind, the 18 chapters of this text have been org....