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Quantitative Methods for Business 5th Edition by Donald Waters ISBN 0273739484 9780273739487

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ISBN 10: 0273739484
ISBN 13: 9780273739487
Author: Donald Waters

Quantitative Methods for Business has been thoroughly revised and updated for this 5th edition, and continues to provide a simple and practical introduction to an area that students can find difficult. The book takes a non-threatening approach to the subject, avoiding excessive mathematics and abstract theory. It shows how to apply quantitative ideas to the real problems faced by managers.

The book includes numerous exercises and examples that help students understand the relevance of quantitative ideas to business. Assuming no previous knowledge, the text provides complete coverage for a first course in quantitative methods.

Quantitative Methods for Business 5th Table of contents:

Part One: Background

Managers and Numbers

  • Chapter Outline

  • Why Use Numbers?

  • Solving Problems

  • Useful Software

  • Chapter Review

  • Case Study: Hamerson and Partners

  • Problems, Research Projects, Sources of Information

Calculations and Equations

  • Chapter Outline

  • Working with Numbers

  • Changing Numbers to Letters

  • Solving Equations

  • Simultaneous Equations

  • Powers and Roots

  • Chapter Review

  • Case Study: The Crown and Anchor

  • Problems, Research Projects, Sources of Information

Drawing Graphs

  • Chapter Outline

  • Graphs on Cartesian Coordinates

  • Quadratic Equations

  • Drawing Other Graphs

  • Graphs of Simultaneous Equations

  • Chapter Review

  • Case Study: McFarlane & Sons

  • Problems, Research Projects, Sources of Information

Part Two: Collecting and Summarising Data

Collecting Data

  • Chapter Outline

  • Data and Information

  • Types of Data

  • Using Samples

  • Organising Data Collection

  • Chapter Review

  • Case Study: Natural Wholemeal Biscuits

  • Problems, Research Projects, Sources of Information

Diagrams for Presenting Data

  • Chapter Outline

  • Data Reduction and Presentation

  • Tables of Numerical Data

  • Diagrams of Data

  • Continuous Data

  • Chapter Review

  • Case Study: High Acclaim Trading

  • Problems, Research Projects, Sources of Information

Using Numbers to Describe Data

  • Chapter Outline

  • Measuring Data

  • Measures of Location

  • Measures of Spread

  • Other Measures of Data

  • Chapter Review

  • Case Study: Consumer Advice Office

  • Problems, Research Projects, Sources of Information

Describing Changes with Index Numbers

  • Chapter Outline

  • Measuring Change

  • Changing the Base Period

  • Indices for More Than One Variable

  • Chapter Review

  • Case Study: Heinz Muller Engineering

  • Problems, Research Projects, Sources of Information

Part Three: Solving Management Problems

Finance and Performance

  • Chapter Outline

  • Measures of Performance

  • Break-even Point

  • Value of Money Over Time

  • Discounting to Present Value

  • Mortgages, Annuities, and Sinking Funds

  • Chapter Review

  • Case Study: OnlineInkCartridges.com

  • Problems, Research Projects, Sources of Information

Regression and Curve Fitting

  • Chapter Outline

  • Measuring Relationships

  • Linear Relationships

  • Measuring Strength of a Relationship

  • Multiple Regression

  • Curve Fitting

  • Chapter Review

  • Case Study: Western General Hospital

  • Problems, Research Projects, Sources of Information

Forecasting

  • Chapter Outline

  • Forecasting in Organisations

  • Judgemental Forecasts

  • Projective Forecasts

  • Forecasts with Seasonality and Trend

  • Chapter Review

  • Case Study: Workload Planning

  • Problems, Research Projects, Sources of Information

Linear Programming

  • Chapter Outline

  • Constrained Optimisation

  • Formulation

  • Graphical Solutions

  • Sensitivity Analysis

  • Solving Real Problems

  • Chapter Review

  • Case Study: Elemental Electronics

  • Problems, Research Projects, Sources of Information

Part Four: Introducing Statistics

Uncertainty and Probabilities

  • Chapter Outline

  • Measuring Uncertainty

  • Calculations with Probabilities

  • Conditional Probabilities

  • Chapter Review

  • Case Study: The Gamblers’ Press

  • Problems, Research Projects, Sources of Information

Probability Distributions

  • Chapter Outline

  • Frequency Distributions

  • Combinations and Permutations

  • Binomial, Poisson, and Normal Distributions

  • Chapter Review

  • Case Study: Machined Components

  • Problems, Research Projects, Sources of Information

Using Samples

  • Chapter Outline

  • Purpose of Sampling

  • Sampling Distribution of the Mean

  • Confidence Intervals

  • One-sided Confidence Intervals

  • Small Samples

  • Chapter Review

  • Case Study: Kings Fruit Farm

  • Problems, Research Projects, Sources of Information

Testing Hypotheses

  • Chapter Outline

  • Aim of Hypothesis Testing

  • Significance Levels

  • Tests with Small Samples

  • Chi-Squared and Other Tests

  • Tests of Association

  • Chapter Review

  • Case Study: Willingham Consumer Protection Department

  • Problems, Research Projects, Sources of Information

Part Five: Management Problems Involving Uncertainty

Making Decisions

  • Chapter Outline

  • Structuring Decisions

  • Certainty, Uncertainty, and Risk

  • Sequential Decisions

  • Chapter Review

  • Case Study: The Newisham Reservoir

  • Problems, Research Projects, Sources of Information

Quality Management

  • Chapter Outline

  • Measuring Quality

  • Tools for Quality Control

  • Acceptance Sampling

  • Process Control

  • Chapter Review

  • Case Study: Bremen Engineering

  • Problems, Research Projects, Sources of Information

Inventory Management

  • Chapter Outline

  • Stock Control Concepts

  • Economic Order Quantity

  • Stock for Production and Variable Demand

  • Periodic Review

  • ABC Analysis

  • Chapter Review

  • Case Study: Templar Manufacturing

  • Problems, Research Projects, Sources of Information

Project Management

  • Chapter Outline

  • Project Planning and Timing

  • Network Analysis

  • Project Evaluation and Review Technique (PERT)

  • Chapter Review

  • Case Study: Westin Contractors

  • Problems, Research Projects, Sources of Information

Queues and Simulation

  • Chapter Outline

  • Queue Characteristics

  • Single-Server Queues

  • Simulation and Monte Carlo Methods

  • Chapter Review

  • Case Study: The Palmer Centre for Alternative Therapy

  • Problems, Research Projects, Sources of Information

Glossary

Appendices

  • Appendix A: Solutions to Review Questions

  • Appendix B: Binomial Distribution Probabilities

  • Appendix C: Poisson Distribution Probabilities

  • Appendix D: Normal Distribution Probabilities

  • Appendix E: t-Distribution Probabilities

  • Appendix F: Chi-Square Critical Values

Index

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