The revised Fourth Edition of this popular textbook is redesigned with Excel 2016 to encourage
business students to develop competitive advantages for use in their future careers as decision
makers. Students learn to build models using logic and experience produce statistics using
Excel 2016 with shortcuts and translate results into implications for decision makers. The
textbook features new examples and assignments on global markets including cases featuring
Chipotle and Costco. Exceptional managers know that they can create competitive advantages by
basing decisions on performance response under alternative scenarios and managers need to
understand how to use statistics to create such advantages. Statistics from basic to
sophisticated models are illustrated with examples using real data such as students will
encounter in their roles as managers. A number of examples focus on business in emerging global
markets with particular emphasis on emerging markets in Latin America China and India.
Results are linked to implications for decision making with sensitivity analyses to illustrate
how alternate scenarios can be compared. The author emphasizes communicating results
effectively in plain English and with screenshots and compelling graphics in the form of memos
and PowerPoints. Chapters include screenshots to make it easy to conduct analyses in Excel
2016. PivotTables and PivotCharts used frequently in business are introduced from the start.
The Fourth Edition features Monte Carlo simulation in four chapters as a tool to illustrate
the range of possible outcomes from decision makers' assumptions and underlying uncertainties.
Model building with regression is presented as a process adding levels of sophistication with
chapters on multicollinearity and remedies forecasting and model validation autocorrelation
and remedies indicator variables to represent segment differences and seasonality structural
shifts or shocks in time series models. Special applications in market segmentation and
portfolio analysis are offered and an introduction to conjoint analysis is included. Nonlinear
models are motivated with arguments of diminishing or increasing marginal response.
