Excel 2019 For Marketing Statistics: A Guide To Solving Practical Problems

Description

This book shows the capabilities of Microsoft Excel in teaching marketing statistics effectively. It is a step-by-step, exercise-driven guide for students and practitioners who need to master Excel to solve practical marketing problems. If understanding statistics isn’t your strongest suit, you are not especially mathematically inclined, or if you are wary of computers, this is the right book for you. Excel, a widely available computer program for students and managers, is also an effective teaching and learning tool for quantitative analyses in marketing courses. Its powerful computational ability and graphical functions make learning statistics much easier than in years past. Excel 2019 for Marketing Statistics: A Guide to Solving Practical Problems capitalizes on these improvements by teaching students and managers how to apply Excel to statistical techniques necessary in their courses and work. In this new edition, each chapter explains statistical formulas and directs the reader to use Excel commands to solve specific, easy-to-understand marketing problems. Practice problems are provided at the end of each chapter with their solutions in an appendix. Separately, there is a full practice test (with answers in an appendix) that allows readers to test what they have learned. Preface......Page 7 Acknowledgments......Page 10 Contents......Page 11 About the Authors......Page 16 1.1 Mean......Page 17 1.2 Standard Deviation......Page 18 1.4 Sample Size, Mean, Standard Deviation, and Standard Error of the Mean......Page 19 1.4.1 Using the Fill/Series/Columns Commands......Page 20 1.4.2 Changing the Width of a Column......Page 21 1.4.3 Centering Information in a Range of Cells......Page 22 1.4.4 Naming a Range of Cells......Page 23 1.4.8 Finding the Standard Error of the Mean......Page 25 1.4.8.1 Formatting Numbers in Number Format (Two Decimal Places)......Page 26 1.5 Saving a Spreadsheet......Page 28 1.6 Printing a Spreadsheet......Page 29 1.7 Formatting Numbers in Currency Format (Two Decimal Places)......Page 30 1.9 End-of-Chapter Practice Problems......Page 32 Reference......Page 35 2.1 Creating Frame Numbers for Generating Random Numbers......Page 36 2.2 Creating Random Numbers in an Excel Worksheet......Page 39 2.3 Sorting Frame Numbers into a Random Sequence......Page 41 2.4 Printing an Excel File So That All of the Information Fits onto One Page......Page 44 2.5 End-of-Chapter Practice Problems......Page 48 3.1.1 How to Estimate the Population Mean......Page 50 3.1.2 Estimating the Lower Limit and the Upper Limit of the 95% Confidence Interval About the Mean......Page 51 3.1.3 Estimating the Confidence Interval for the Chevy Impala in Miles per Gallon......Page 52 3.1.4 Where Did the Number ``1.96´´ Come From?......Page 53 3.1.5 Finding the Value for t in the Confidence Interval Formula......Page 54 3.1.7 Using Excel to Find the 95% Confidence Interval for a Car´s mpg Claim......Page 55 3.2 Hypothesis-Testing......Page 60 3.2.1 Hypotheses Always Refer to the Population of People or Events that You Are Studying......Page 61 3.2.2.1 Determining the Null Hypothesis and the Research Hypothesis When Rating Scales are Used......Page 62 3.2.3.3 STEP 3: Calculate the Formula for the Statistical Test......Page 65 3.2.3.7 STEP 7: State the Conclusion of your Statistical Test in Plain English!......Page 66 3.3.1 Different Ways to Accept the Null Hypothesis......Page 71 3.4 End-of-Chapter Practice Problems......Page 72 References......Page 77 4.1 The Seven STEPS for Hypothesis-Testing Using the One-Group t-Test......Page 78 4.1.3.1 Finding the Absolute Value of a Number......Page 79 4.1.4 STEP 4: Calculate the Formula for the One-Group t-Test......Page 80 4.1.5 STEP 5: Find the Critical Value of t in the t-Table in Appendix E......Page 81 4.1.7 STEP 7: State the Conclusion of Your Statistical Test in Plain English!......Page 82 4.2 One-Group t-Test for the Mean......Page 83 4.4 End-of-Chapter Practice Problems......Page 87 References......Page 92 Chapter 5: Two-Group t-Test of the Difference of the Means for Independent Groups......Page 93 5.1.2 STEP 2: Create a Table that Summarizes the Sample Size, Mean Score, and Standard Deviation of Each Group......Page 94 5.1.6 STEP 6: Calculate the Formula for the Two-Group t-Test......Page 96 5.1.7.1 Finding the Degrees of Freedom (df) for the Two-Group t-Test......Page 97 5.1.9.1 Writing the Conclusion of the Two-Group t-Test When You Accept the Null Hypothesis......Page 98 5.1.9.2 Writing the Conclusion of the Two-Group t-Test When You Reject the Null Hypothesis and Accept the Research Hypothesis......Page 100 5.2 Formula #1: Both Groups Have More Than 30 People in Them......Page 102 5.2.1 An Example of Formula #1 for the Two-Group t-Test......Page 103 5.3 Formula #2: One or Both Groups Have Less Than 30 People in Them......Page 109 5.4 End-of-Chapter Practice Problems......Page 115 References......Page 118 6.1 What Is a ``Correlation?´´......Page 119 6.1.2 Understanding the Nine Steps for Computing a Correlation, r......Page 124 6.2 Using Excel to Compute a Correlation Between Two Variables......Page 126 6.3 Creating a Chart and Drawing the Regression Line onto the Chart......Page 130 6.3.1 Using Excel to Create a Chart and the Regression Line Through the Data Points......Page 131 6.3.1.1 Drawing the Regression Line Through the Data Points in the Chart......Page 136 6.3.1.3 Making the Chart ``Longer´´ So That It Is ``Taller´´......Page 138 6.4 Printing a Spreadsheet So That the Table and Chart Fit onto One Page......Page 139 6.5 Finding the Regression Equation......Page 141 6.5.1.1 Installing the Data Analysis ToolPak into Excel 2019......Page 142 6.5.1.3 Installing the Data Analysis ToolPak into Excel 2013......Page 143 6.5.2 Using Excel to Find the SUMMARY OUTPUT of Regression......Page 144 6.5.2.2 Finding the Slope, b, of the Regression Line......Page 147 6.5.4 Using the Regression Line to Predict the y-Value for a Given x-Value......Page 148 6.6 Adding the Regression Equation to the Chart......Page 149 6.8 Printing Only Part of a Spreadsheet Instead of the Entire Spreadsheet......Page 153 6.8.2 Printing Only the Chart on a Separate Page......Page 154 6.9 End-of-Chapter Practice Problems......Page 155 References......Page 160 7.1 Multiple Regression Equation......Page 161 7.2 Finding the Multiple Correlation and the Multiple Regression Equation......Page 163 7.4 Using Excel to Create a Correlation Matrix in Multiple Regression......Page 167 7.5 End-of-Chapter Practice Problems......Page 170 References......Page 176 Chapter 8: One-Way Analysis of Variance (ANOVA)......Page 177 8.1 Using Excel to Perform a One-Way Analysis of Variance (ANOVA)......Page 179 8.2 How to Interpret the ANOVA Table Correctly......Page 181 8.3 Using the Decision Rule for the ANOVA F-Test......Page 182 8.4.1 Comparing Dierberg´s vs. Shop `n Save in Their Prices Using the ANOVA t-Test......Page 183 8.4.1.1 Finding the Degrees of Freedom for the ANOVA t-Test......Page 184 8.4.1.3 Performing an ANOVA t-Test Using Excel Commands......Page 185 8.5 End-of-Chapter Practice Problems......Page 187 References......Page 193 Appendix A: Answers to End-of-Chapter Practice Problems......Page 194 Appendix B: Practice Test......Page 225 Appendix C: Answers to Practice Test......Page 237 Appendix D: Statistical Formulas......Page 247 Appendix E: t-Table......Page 249 Index......Page 250