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Statistical Techniques in Business & Economics

LIND

MARCHAL

WATHEN

Seventeenth Edition

Statistical Techniques in

BUSINESS & ECONOMICS

The McGraw-Hill/Irwin Series in Operations and Decision Sciences

SUPPLY CHAIN MANAGEMENT

Benton Purchasing and Supply Chain Management Third Edition

Bowersox, Closs, Cooper, and Bowersox Supply Chain Logistics Management Fourth Edition

Burt, Petcavage, and Pinkerton Supply Management Eighth Edition

Johnson, Leenders, and Flynn Purchasing and Supply Management Fourteenth Edition

Simchi-Levi, Kaminsky, and Simchi-Levi Designing and Managing the Supply Chain: Concepts, Strategies, Case Studies Third Edition

PROJECT MANAGEMENT

Brown and Hyer Managing Projects: A Team-Based Approach First Edition

Larson and Gray Project Management: The Managerial Process Fifth Edition

SERVICE OPERATIONS MANAGEMENT

Fitzsimmons and Fitzsimmons Service Management: Operations, Strategy, Information Technology Eighth Edition

MANAGEMENT SCIENCE

Hillier and Hillier Introduction to Management Science: A Modeling and Case Studies Approach with Spreadsheets Fifth Edition

Stevenson and Ozgur

Introduction to Management Science with Spreadsheets First Edition

MANUFACTURING CONTROL SYSTEMS

Jacobs, Berry, Whybark, and Vollmann Manufacturing Planning & Control for Supply Chain Management Sixth Edition

BUSINESS RESEARCH METHODS

Cooper and Schindler Business Research Methods Twelfth Edition

BUSINESS FORECASTING

Wilson, Keating, and John Galt Solutions, Inc. Business Forecasting Sixth Edition

LINEAR STATISTICS AND REGRESSION

Kutner, Nachtsheim, and Neter Applied Linear Regression Models Fourth Edition

BUSINESS SYSTEMS DYNAMICS

Sterman Business Dynamics: Systems Thinking and Modeling for a Complex World First Edition

OPERATIONS MANAGEMENT

Cachon and Terwiesch Matching Supply with Demand: An Introduction to Operations Management Third Edition

Finch Interactive Models for Operations and Supply Chain Management First Edition

Jacobs and Chase Operations and Supply Chain Management Fourteenth Edition

Jacobs and Chase Operations and Supply Chain Management: The Core Third Edition

Jacobs and Whybark Why ERP? A Primer on SAP Implementation First Edition

Schroeder, Goldstein, and Rungtusanatham Operations Management in the Supply Chain: Decisions and Cases Sixth Edition

Stevenson Operations Management Eleventh Edition

Swink, Melnyk, Cooper, and Hartley Managing Operations across the Supply Chain Second Edition

PRODUCT DESIGN

Ulrich and Eppinger Product Design and Development Fifth Edition

BUSINESS MATH

Slater and Wittry Math for Business and Finance: An Algebraic Approach First Edition

Slater and Wittry Practical Business Math Procedures Eleventh Edition

Slater and Wittry Practical Business Math Procedures, Brief Edition Eleventh Edition

BUSINESS STATISTICS

Bowerman, O’Connell, and Murphree Business Statistics in Practice Seventh Edition

Bowerman, O’Connell, Murphree, and Orris Essentials of Business Statistics Fourth Edition

Doane and Seward Applied Statistics in Business and Economics Fourth Edition

Lind, Marchal, and Wathen Basic Statistics for Business and Economics Eighth Edition

Lind, Marchal, and Wathen Statistical Techniques in Business and Economics Seventeenth Edition

Jaggia and Kelly Business Statistics: Communicating with Numbers First Edition

Jaggia and Kelly Essentials of Business Statistics: Communicating with Numbers First Edition

Statistical Techniques in

BUSINESS & ECONOMICS

S E V E N T E E N T H E D I T I O N

DOUGLAS A. LIND Coastal Carolina University and The University of Toledo

WILLIAM G. MARCHAL The University of Toledo

SAMUEL A. WATHEN Coastal Carolina University

STATISTICAL TECHNIQUES IN BUSINESS & ECONOMICS, SEVENTEENTH EDITION Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2018 by McGraw-Hill Education. All rights reserved. Printed in the United States of America. Previous editions © 2015, 2012, and 2010. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of McGraw- Hill Education, including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.

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ISBN 978-1-259-66636-0 MHID 1-259-66636-0

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Library of Congress Cataloging-in-Publication Data

Names: Lind, Douglas A., author. | Marchal, William G., author. | Wathen, Samuel Adam. author. Title: Statistical techniques in business & economics/Douglas A. Lind, Coastal Carolina University and The University of Toledo, William G. Marchal, The University of Toledo, Samuel A. Wathen, Coastal Carolina University. Other titles: Statistical techniques in business and economics Description: Seventeenth Edition. | Dubuque, IA : McGraw-Hill Education, [2017] | Revised edition of the authors’ Statistical techniques in business & economics, [2015] Identifiers: LCCN 2016054310| ISBN 9781259666360 (alk. paper) | ISBN 1259666360 (alk. paper) Subjects: LCSH: Social sciences—Statistical methods. | Economics—Statistical methods. | Commercial statistics. Classification: LCC HA29 .M268 2017 | DDC 519.5—dc23 LC record available at https://lccn.loc.gov/2016054310

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DEDICATION

To Jane, my wife and best friend, and our sons, their wives, and our grandchildren: Mike and Sue (Steve and Courtney), Steve and Kathryn (Kennedy, Jake, and Brady), and Mark and Sarah (Jared, Drew, and Nate).

Douglas A. Lind

To Oscar Sambath Marchal, Julian Irving Horowitz, Cecilia Marchal Nicholson and Andrea.

William G. Marchal

To my wonderful family: Barb, Hannah, and Isaac.

Samuel A. Wathen