The Role of Statistics in Business and Industry

by Gerald J. Hahn, Necip Doganaksoy

An insightful guide to the use of statistics for solving key problems in modern-day business and industry This book has been awarded the Technometrics Ziegel Prize for the best book reviewed by the journal in 2010. Technometrics is a journal of statistics for the physical, chemical and engineering sciences, published jointly by the American Society for Quality and the American Statistical Association. Criteria for the award include that the book brings together in one volume a body of material previously only available in scattered research articles and having the potential to significantly improve practice in engineering and science. Highlighting the relevance of statistical methods in everyday applications, The Role of Statistics in Business and Industry bridges the gap between the tools of statistics and their use in today's business world. This one-of-a-kind resource encourages the proactive use of statistics in three well-organized and succinct This book is truly unique in that it first describes case studies and key business problems, and then shows how statistics is used to address them, while most literature on the topic does the reverse. This approach provides a comprehensive understanding of common issues and the most effective methods for their treatment. Each chapter concludes with general questions that allow the reader to test their understanding of the presented statistical concepts as well as technical questions that raise more complex issues. An extensive FTP site provides additional material, including solutions to some of the applications. With its accessible style and real-world examples, The Role of Statistics in Business and Industry is a valuable supplement for courses on applied statistics and statistical consulting at the upper-undergraduate and graduate levels. It is also an ideal resource for early-career statisticians and practitioners who would like to learn the value of applying statistics to their everyday work.

362 pages, Paperback

First published January 1, 2008

Reviews

[Michael · Rating 5 out of 5]

A invaluable book with clear explanations of how statistical methods are used in business.

[Tom Schulte · Rating 3 out of 5]

From William Sealy Gosset's late 19th Century work at the Guinness Brewery to The Western Electric SQC Handbook that became the AT&T SQC Handbook in the late 1950s, there is a long tradition of large-scale manufacturers being fertile grounds for comprehensive documentation of basic, applied statistics for largely quality applications in business and industry. This book, by two GE Research and Development employees, follows in that tradition. Decades of work in reliability and quality control areas during the peak years of the six sigma movement applied to real world problems at GE positioned the authors to put together this very practical text on the role of statistics in business and industry. The book describes many of the key problems that they were exposed to during their careers. They start by describing specific problems that are common in manufacturing and test design. They determine the key questions to address and then describe the statistical methods that are employed to solve these problems. This book helps formulate and describe applying statistical thinking to practical business problems.



This book's chapter layout makes the text work as both a reference guide and a textbook for either classroom or self-guided study. A well-thought progression of sections in each chapter concludes with summarizing takeaway bullet points with general and technical questions to motivate discussion and learning. An extensive FTP site provides additional material, including solutions to some of the applications. Always taking a high-level view that admits readers of the most basic mathematical literacy, this is an introduction to statistics and its applications in business and industry. The explanations of how statistics helps one design, build, ensure reliability and improve products from aircraft engines to washing machines and in specialized areas such as the food and beverage, semiconductor and communications industries can be grasped readily by the non-mathematician. Undergraduate students will find valuable connection points to basic theory they are being exposed to while manufacturing managers overseeing projects relying on statistics will find valuable enlightenment here. The core of the text is chapters rich in real-world case studies, if they are only given a brief overview, on such areas as product reliability, product field support, pharmaceuticals, financial services, and more.

[Mohammad · Rating 5 out of 5]

As a statistics student that study statistics theories , it is wonderful for me to understand some applications of these lessons.
I find a lot of new aspect of statistics in this book and enjoy a lot when reading it.