This text emphasises applications over theory. It illustrates the importance of statistical methods and tools for today's managers and analysts, and how to apply them to business problems using real-world data. Using a proven three-step Identify-Compute-Interpret (ICI) approach to problem-solving, the text teaches students how to (1) Identify the correct statistical technique by focusing on the problem objective and data type; (2) Compute the statistics doing them by hand and using Excel; and (3) Interpret results in the context of the problem. This unique approach enhances students' comprehension and practical skills. The text's vast assortment of data-driven examples, exercises, and cases covers the various functional areas of business, demonstrating the statistical applications that marketing managers, financial analysts, accountants, economists, and others use. These comprehensive applications give students hands-on experience and practice, while solid pedagogical elements make the material more accessible and easy to apply to the day-to-day statistical problems students encounter in real life as well as in the business environment. Completely up-to-date, the fifth edition offers comprehensive coverage, current examples, and Excel 2007 content.