Statistical Techniques in Business and Economics

Statistical Techniques in Business and Economics by Lind, Marchal, and Wathen was my second statistical book, so I did have something to compare it against. My first statistics class used Business Statistics by David Levine. I found this book here to be easier to understand. One thing to keep in mind apparently is that different books teach the Z tables differently. The Levine book had taught them as cumulative tables. This book here teaches them as distance-from-the-mean. So that was confusing to realize at first, that the exact same nomenclature and exact same references were to two fairly different systems. If you are taking a class with a professor make sure you know which way the professor is intending to teach that material and choose a book (or supplementary book) that matches his or her style.

This book comes with a CD, but I didn't use it at all for the class, and I never had any issues. So while the CD might be helpful for some, it by no means is necessary to learn the material. Also the book fairly heavily promotes Connect, an online for-pay teaching system. There are Connect exercises everywhere in the book. I didn't use Connect either and again it did not impede my learning. So certainly people can use those extra systems but they are not necessary.

The examples were helpful and the graphics did a good job of illustrating the points.

I think the only time our class got tripped up by the book was in the discussion of analysis of variance, chapter 12. In this section it says, page 404, that "as the values of X increase, the F distribution ..." X had never been mentioned as a variable up until this point except as a mean. Then on page 405 you can see X in the formulas for the two standard deviations. So some students thought this was the X that the instructions were talking about. However, the book was actually talking about the *x axis value* (i.e. the F). On the slides that accompany this chapter the exact same sentence is given but with F instead of X. So I do think the book could use some editing to help situations like that be more clear. If nothing else the book's slides should match its text content.

Still, as long as you keep your eyes open for issues like that in general the book does a good job of helping students learn the material. Our class did very well with the book.

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