Quantitative Methods for Business

Fifth Edition

Donald Waters

Managers in every organisation use quantitative methods. One of their essential skills is the ability to understand numerical information and use it for decision making. Not surprisingly, management students do a course in quantitative methods, typically with names like quantitative analysis, decision analysis, business modelling or financial methods. This book gives an introduction to methods that are widely used in business, which every student of management will meet somewhere in their course. Whether you are studying for an HND, a first degree, an MBA or postgraduate degree, or a professional qualification, the book covers key topics in an easy to follow and practical way.

Quantitative Methods for Business, fifth edition, is divided into five parts which develop the subject in a logical sequence.

• Part One introduces the subject, asks why managers use quantitative methods and reviews essential quantitative tools.
• Part Two describes data collection and description, showing how to select and present information reliably.
• Part Three looks at specific types of management problem that are invariably tackled using quantitative methods, such as financial analyses and forecasting.
• Part Four introduces the ideas of uncertainty, focusing on probabilities, the elements of statistics and sampling.
• Part Five shows how statistical ideas are used in decision making, quality management, inventory management and other areas.

Key features

• A comprehensive view of quantitative methods actually used by managers.
• No previous knowledge or experience assumed, enabling you to study at your own pace.
• The subject is developed in a logical order with a clear and easy to follow style.
• Worked examples illustrate key principles needed to grasp the subject.
• ‘Ideas in practice’ and case studies show how methods are actually used.
• Self-assessment problems, chapter outlines and summaries, review questions, research projects and sources of information help to reinforce learning.
• Extensive companion website with a range of additional material at www.pearsoned.co.uk/waters.

Donald Waters is the author of many successful textbooks and is well known for his clarity of style. He was a professor of finance and operations management and now works in management analysis, research and education.

Quantitative Methods for Business has been thoroughly revised and updated for this 5th edition, and continues to provide a simple and practical introduction to an area that students can find difficult. The book takes a non-threatening approach to the subject, avoiding excessive mathematics and abstract theory. It shows how to apply quantitative ideas to the real problems faced by managers.

The book includes numerous exercises and examples that help students understand the relevance of quantitative ideas to business. Assuming no previous knowledge, the text provides complete coverage for a first course in quantitative methods.