Modern Business Statistics (6e)

Essentials of Modern
Business Statistics (7e)
Anderson, Sweeney, Williams, Camm, Cochran
© 2018 Cengage Learning

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 1
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 Modern Business Statistics (6e)

Chapter 3, Part A
Descriptive Statistics: Numerical Measures
❑ Measures of Location 位置度量
可变性度量

❑ Measures of Variability

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 Modern Business Statistics (6e)

Numerical Measures
▪ If the measures are computed for data from a sample, they are
called sample statistics.
▪ If the measures are computed for data from a population, they are
called population parameters.
▪ A sample statistic is referred to as the point estimator of the
corresponding population parameter.
使用正确的词汇 vocabulary，提升沟通的效率。
样本统计数据 - 人口统计数据，用样本统计整体的情况。

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 Modern Business Statistics (6e)

Measures of Location
❑ Mean
位置度量： “这个样本处于什么位置”

❑ Median 比如体重、智商、一管牙膏的体积。
一个统计数据的中心在哪儿

❑ Mode
❑ Weighted Mean
❑ Geometric Mean
❑ Percentiles
❑ Quartiles

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 Modern Business Statistics (6e)

Mean
Perhaps the most important measure of location is the mean.
▪ The mean provides a measure of central location.
▪ The mean of a data set is the average of all the data values.

均值是中心位置，sample mean - x bar (x拔），样本均值；总体均值是μ。使用正确的名字和符号！

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 Modern Business Statistics (6e)

Sample Mean x̅, Part 1

这个念：Sigma X sub i
注意是小n表示样本集中的元素个数

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 Modern Business Statistics (6e)

Population Mean m
和上页唯一的区别是大写N，因为是总值/population的总个数
现实世界中，无法访问到所有population中的每一个个体。所以要抽
样调查获得某种事实。

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 Modern Business Statistics (6e)

Sample Mean x̅, Part 2

Example: Monthly Starting Salary
A placement office wants to know the average starting salary of
business graduates. Monthly starting salaries for a sample of 12
business school graduates is provided here.
Graduate Monthly Starting Graduate Monthly Starting
Salary ($) Salary ($)
1 3,850 7 3,890
2 3,950 8 4,130
3 4,050 9 3,940
4 3,880 10 4,325
5 3,755 11 3,920
6 3,710 12 3,880

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 Modern Business Statistics (6e)

Sample Mean x̅, Part 3

Example: Monthly starting Salary

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 Modern Business Statistics (6e)

Median, Part 1
▪ The median of a data set is the value in the middle when the data
items are arranged in ascending order.
▪ Whenever a data set has extreme values, median is the preferred
measure of central location.
▪ The median is the measure of location most often reported for
annual income and property value data.
▪ A few extremely large incomes or property values can inflate the
mean.
中位数 - 排序后处于中间的值。
有时候比均值更有代表性，因为中位数排除了个别极端值的影响

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 Modern Business Statistics (6e)

Median, Part 2
For an odd number of observations:
7 observations

Median is the middle value

Median = 19

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 Modern Business Statistics (6e)

Median, Part 3
For an even number of observations: 样本量是偶数个数时候，取中间两个值求个简单平均

8 observations

Median is the average of the middle two values.

Median = (19 + 26)/2 = 22.5

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 Modern Business Statistics (6e)

Median, Part 4
Example: Monthly Starting Salary
Averaging the 6th and 7th data values:
中位数，排除了个别极端值的
影响

Monthly Starting Monthly Starting

Salary ($) Salary ($)

3,710 3,755
3,850 3,880
3,880 3,890
3,920 3,940
3,950 4,050
Note: The data is in ascending order 4,130 4,325

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 Modern Business Statistics (6e)

Trimmed Mean
▪ Another measure sometimes used when extreme values are
present, is the trimmed mean.
▪ It is obtained by deleting a percentage of the smallest and largest
values from a data set and then computing the mean of the
remaining values.
▪ For example, the 5% trimmed mean is obtained by removing the
smallest 5% and the largest 5% of the data values and then
computing the mean of the remaining values.
去掉最高最低的一部分后求平均，也是为了修剪掉极端值

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 Modern Business Statistics (6e)

Mode, Part 1 数据集模式

▪ The mode of a data set is the value that occurs with greatest
frequency. 数据集的mode 模态
▪ The greatest frequency can occur at two or more different values.
▪ If the data have exactly two modes, the data are bimodal.
▪ If the data have more than two modes, the data are multimodal.

双模态 多模态

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 Modern Business Statistics (6e)

Mode, Part 2
Example: Monthly Starting Salary
The only monthly starting salary that occurs more than once is $3,880.
Mode = 3,880
Monthly Starting Monthly Starting
Salary ($) Salary ($)

3,710 3,755
3,850 3,880 (circled)
3,880 3,890
3,920 3,940
3,950 4,050
4,130 4,325

Note: Data is in ascending order.

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 Modern Business Statistics (6e)

Excel’s Mean Median and Mode Functions

Excel’s Mean Function

❑ AVERAGE(data cell range)

Excel’s Median Function

❑ MEDIAN(data cell range)

Excel’s Mode Function

❑ MODE.SNGL(data cell range)

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 Modern Business Statistics (6e)

Using Excel to Compute

the Mean, Median, and Mode, Part 1
❑ Excel Formula Worksheet
Graduate Monthly Salary ($)

1 3850

2 3950

3 4050

4 3880

5 3755

6 3710

7 3890

8 4130

9 3940

10 4325

11 3920

12 3880

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otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Using Excel to Compute

the Mean, Median, and Mode, Part 2
❑ Excel Value Worksheet

Graduate Monthly
Salary ($)

1 3850

2 3950

3 4050

4 3880

5 3755

6 3710

7 3890

8 4130

9 3940

10 4325

11 3920

12 3880

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otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Weighted Mean, Part 1

▪ In some instances the mean is computed by giving each observation
a weight that reflects its relative importance.
▪ The choice of weights depends on the application.
▪ The weights might be the number of credit hours earned for each
grade, as in GPA.
▪ In other weighted mean computations, quantities such as pounds,
dollars, or volume are frequently used.

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 Modern Business Statistics (6e)

Weighted Mean, Part 2

where: xi = value of observation i

wi = weight for observation I
Numerator: sum of the weighted data values
Denominator: sum of the weights
If data is from a population, m replaces 𝑥.ҧ

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 Modern Business Statistics (6e)

Weighted Mean, Part 3

Example: Purchase of Raw Material
Consider the following sample of five purchases of a raw material over
a period of three months

Purchase Cost per Pound ($) Number of Pounds

1 3.00 1200
2 3.4 500
3 2.8 2750
4 2.9 1000
5 3.25 800

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 Modern Business Statistics (6e)

Weighted Mean, Part 4

Example: Purchase of raw material
Purchase Cost per Pound ($) Number of Pounds Wi X i
Xi Wi
1 3.00 1200 3600
2 3.4 500 1700
3 2.8 2750 7700
4 2.9 1000 2900
5 3.25 800 2600

FYI, equally-weighted (simple) mean = $3.07

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 几何平均数是对各变量值的连乘积开项数次方根。求几
Modern Business Statistics (6e)
何平均数的方法叫做几何平均法。如果总水平、总成果
等于所有阶段、所有环节水平、成果的连乘积总和时，
求各阶段、各环节的一般水平、一般成果，要使用几何

Geometric Mean, Part 1 平均法计算几何平均数，而不能使用算术平均法计算算

术平均数。根据所拿握资料的形式不同，其分为简单几
何平均数和加权几何平均数两种形式

▪ The geometric mean is calculated by finding the nth root of the

product of n values.
▪ It is often used in analyzing growth rates in financial data (where
using the arithmetic mean will provide misleading results).
▪ It should be applied anytime you want to determine the mean rate
of change over several successive periods (be it years, quarters,
weeks, . . .).
▪ Other common applications include: changes in populations of
species, crop yields, pollution levels, and birth and death rates.

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 Modern Business Statistics (6e)

Geometric Mean, Part 2

计算几何平均数要求各观察值
之间存在连乘积关系，它的主
要用途是： [2]
1、对比率、指数等进行平均；
2、计算平均发展速度；
其中：样本数据非负，主要用
于对数正态分布。
3、复利下的平均年利率；
4、连续作业的车间求产品的平
均合格率。

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 25
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 Modern Business Statistics (6e)

Geometric Mean, Part 3

Example: Mutual fund
Year Annual Return % Growth Factor
1 -22.1 0.779
2 28.7 1.287
3 10.9 1.109

4 4.9 1.049
5 15.8 1.158
6 5.5 1.055
7 -37.0 .630
8 26.5 1.265
9 15.1 1.151
10 2.1 1.021

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 Modern Business Statistics (6e)

Geometric Mean: Part 4

Average growth rate per period is (1.029275- 1) (100) = 2.9%

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 Modern Business Statistics (6e)

Using Excel to Compute Geometric Mean, Part 2

❑ Excel Function for Geometric Mean

= GEOMEAN(data cell range)

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 Modern Business Statistics (6e)

Using Excel to Compute Geometric Mean, Part 3

❑ Excel Formula Worksheet

Year Annual return (%) Growth Factor

1 -22.1 .779

2 28.7 1.287

3 10.9 1.109

4 4.9 1.049

5 15.8 1.158

6 5.5 1.055

7 -37 0.63

8 26.5 1.265

9 15.1 1.151

10 2.1 1.021

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 Modern Business Statistics (6e)

Using Excel to Compute Geometric Mean, Part 4

❑ Excel Value Worksheet

Year Annual return (%) Growth Factor

1 (22.1) .779

2 28.7 1.287

3 10.9 1.109

4 4.9 1.049

5 15.8 1.158

6 5.5 1.055

7 (37.0) 0.63

8 26.5 1.265

9 15.1 1.151

10 2.1 1.021

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 Modern Business Statistics (6e)

Percentiles, Part 1
▪ A percentile provides information about how the data are spread
over the interval from the smallest value to the largest value.
▪ Admission test scores for colleges and universities are frequently
reported in terms of percentiles.
▪ The pth percentile of a data set is a value such that at least p
percent of the items take on this value or less and at least (100 - p)
percent of the items take on this value or more.
百分位，确定分布的位置，比如第90百分位数，90%的数值是等于或小于这个值，10%大于这个值。

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 Modern Business Statistics (6e)

Percentiles, Part 2
Arrange the data in ascending order.
Compute Lp, the location of the pth percentile.

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 Modern Business Statistics (6e)

80th Percentile, Part 1 第80百分位数，即80%的数值小于等于

这个数值。按这个进行计算。
Example: Monthly Starting Salary

(the 10th value plus .4 times the difference between the

11th and 10th values)

Monthly Starting Monthly Starting

Salary ($) Salary ($)

3,710 3,755

3,850 3,880

3,880 3,890

3,920 3,940

3,950 4,050

4,130 4,325

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33
 Modern Business Statistics (6e)

80th Percentile, Part 2

Example: Monthly Starting Salary

Monthly Starting Monthly Starting Salary ($)

Salary ($)

3,710 3,755

3,850 3,880

3,880 3,890

3,920 3,940

3,950 4,050

4,130 4,325

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 Modern Business Statistics (6e)

Using Excel to Compute Percentiles

❑ Excel’s percentile function is:
PERCENTILE.EXC(data range, p/100)

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 Modern Business Statistics (6e)

Using Excel to Compute 80th Percentile, Part 1

❑ Excel Formula worksheet
Graduate Monthly Salary ($)

1 3850

2 3950

3 4050

4 3880

5 3755

6 3710

7 3890

8 4130

9 3940

10 4325

11 3920

12 3880

Note: It is not necessary to put the data in ascending order.

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 Modern Business Statistics (6e)

Using Excel to Compute 80th Percentile, Part 2

❑ Excel Formula worksheet

Graduate Monthly Salary

($)

1 3850

2 3950

3 4050

4 3880

5 3755

6 3710

7 3890

8 4130

9 3940

10 4325

11 3920

12 3880

Note: It is not necessary to put the data in ascending order.

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 Modern Business Statistics (6e)

Quartiles
Quartiles are specific percentiles.
❑ First Quartile = 25th Percentile
❑ Second Quartile = 50th Percentile = Median
❑ Third Quartile = 75th Percentile

主要需要了解四分位数，比如说箱型图的使用。
第25个百分位数，第50个百分位数，第75个百分位数

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 Modern Business Statistics (6e)

Third Quartile (75th Percentile)

Example: Monthly Starting Salary

(the 9th value plus .75 times the difference between the
10th and 9th values)

Monthly Starting Monthly Starting

Salary ($) Salary ($)

3,710 3,755

3,850 3,880

3,880 3,890

3,920 3,940

3,950 4,050

4,130 4,325

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39
 Modern Business Statistics (6e)

Using Excel to compute Quartiles

❑ Excel’s Quartile Function
QUARTILE.EXC(array, QUART)

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 Modern Business Statistics (6e)

Using Excel to compute 3rd Quartile

❑ Excel Formula worksheet
Graduate Monthly Salary ($)

1 3850

2 3950

3 4050

4 3880

5 3755

6 3710

7 3890

8 4130

9 3940

10 4325

11 3920

12 3880

Note: It is not necessary to put the data in ascending order.

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 Modern Business Statistics (6e)

Using Excel to Compute 3rd Percentile

❑ Excel Value worksheet
Graduate Monthly Salary ($)

1 3850

2 3950

3 4050

4 3880

5 3755

6 3710

7 3890

8 4130

9 3940

10 4325

11 3920

12 3880

Note: It is not necessary to put the data in ascending order.

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 Modern Business Statistics (6e)

Measures of Variability, Part 1

▪ It is often desirable to consider measures of variability (dispersion),
as well as measures of location.
▪ For example, in choosing supplier A or supplier B we might consider
not only the average delivery time for each, but also the variability
in delivery time for each.
测量变量的分布。是紧凑的还是分散的？
比如说，供应商的交付表现不仅是平均值，更是分布的情况

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 Modern Business Statistics (6e)

Measures of Variability, Part 2

❑ Range
❑ Interquartile Range
❑ Variance
❑ Standard Deviation
❑ Coefficient of Variation

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 Modern Business Statistics (6e)

Range, Part 1
▪ The range of a data set is the difference between the largest and
smallest data values.
Range = Largest value – Smallest value
▪ It is the simplest measure of variability.
▪ It is very sensitive to the smallest and largest data values.

范围：最大值减去最小值，很简单。

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 Modern Business Statistics (6e)

Range, Part 2
Example: Monthly Starting Salary
Range = largest value - smallest value

Monthly Starting Monthly Starting Salary

Salary ($) ($)

3,710 (circled) 3,755

3,850 3,880

3,880 3,890

3,920 3,940

3,950 4,050

4,130 4,325 (circled)

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 Modern Business Statistics (6e)

Interquartile Range
▪ The interquartile range of a data set is the difference between the
third quartile and the first quartile.
▪ It is the range for the middle 50% of the data.
▪ It overcomes the sensitivity to extreme data values.

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 Modern Business Statistics (6e)

Interquartile Range (IQR)

Example: Monthly Starting Salary
▪ 3rd Quartile (Q3) = 4,000

Monthly Starting Monthly Starting

Salary ($) Salary ($)
3,710 3,755
3,850 3,880
3,880 3,890
3,920 3,940
3,950 4,050
4,130 4,325

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 48
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Variance, Part 1
▪ The variance is a measure of variability that utilizes all the data.

方差，很重要的概念，是后续很多活动的基础。
使用数据集中的每个值，基于每个值与均值之间的差异。
使用方差可以比较各种不同的特征。

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 49
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Variance, Part 2
▪ The variance is the average of the squared differences between
each data value and the mean.
▪ The variance is computed as follows:

基于样本使用x拔，基于总体使
用μ。
不论是整体还是样本，都要使用
数据的每个点与均值之差的平
方。
注意分母的区别（为什么？） for a for a
sample population

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 50
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Standard Deviation, Part 1

▪ The standard deviation of a data set is the positive square root of
the variance.
▪ It is measured in the same units as the data, making it more easily
interpreted than the variance.

标准差就是前面两个值的平方根。
标准差与数据的单位是相同的，而不是平方。
比如说IQ的标准差也是IQ值而不是平方。

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 51
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Standard Deviation, Part 2

The standard deviation is computed as follows:

For a For a
sample population

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otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Excel’s Variance and Standard deviation Functions

❑ Excel’s Sample Variance Function

VAR.S(data cell range)

❑ Excel’s Sample Standard deviation Function

STDEV.S(data cell range)

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 53
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Coefficient of Variation
▪ The coefficient of variation indicates how large the standard
deviation is in relation to the mean.
The coefficient of variation is computed as follows

变异系数：标准差除以平均值乘
以100%
表示标准差与均值之间的差异大
小
for a for a
sample population

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 54
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Sample Variance, Standard Deviation,

And Coefficient of Variation
Example: Monthly starting salary
Variance

Standard Deviation

Coefficient of Variation

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otherwise on a password-protected website or school-approved learning management system for classroom use. 55
 Modern Business Statistics (6e)

Using Excel to compute the sample Variance, Standard

Deviation and Coefficient of Variation, Part 1
❑ Excel Formula Worksheet

Graduate Monthly Salary ($)

1 3,850
2 3,950
3 4,050
4 3,880
5 3,755
6 3,710
7 3,890
8 4,130
9 3,940
10 4,325
11 3,920
12 3,880

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 56
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

Using Excel to compute the sample Variance, Standard

Deviation and Coefficient of Variation, Part 2
❑ Excel Value Worksheet

Graduate Monthly Salary ($)

1 3,850

2 3,950

3 4,050

4 3,880

5 3,755

6 3,710

7 3,890

8 4,130

9 3,940

10 4,325

11 3,920

12 3,880

© 2018 Cengage Learning. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a license distributed with a certain product or service or 57
otherwise on a password-protected website or school-approved learning management system for classroom use.
 Modern Business Statistics (6e)

End of Chapter 3, Part A

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otherwise on a password-protected website or school-approved learning management system for classroom use.