Guide to Using Minitab 14 For Basic Statistical Applications Guide to Using Minitab 14 For Basic Statistical Applications To Accompany To Accompany Business Statistics: A Decision Making Approach, 7th Ed. Chapter 3: Chapter 3: Describing Data Using Numerical Describing Data Using Numerical Measures Measures By By Groebner, Shannon, Fry, & Smith Groebner, Shannon, Fry, & Smith Prentice Prentice - - Hall Publishing Company Hall Publishing Company Copyright, 2008 Copyright, 2008
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Guide to Using Minitab 14 For Basic Statistical Applications
Guide to Using Minitab 14 For Basic Statistical Applications
To AccompanyTo AccompanyBusiness Statistics: A Decision Making
Approach, 7th Ed.Chapter 3:Chapter 3:
Describing Data Using Numerical Describing Data Using Numerical MeasuresMeasures
ByByGroebner, Shannon, Fry, & SmithGroebner, Shannon, Fry, & Smith
Population MeanPopulation Mean Foster City HotelFoster City Hotel
Issue: Determine the mean nightly revenue for Issue: Determine the mean nightly revenue for the Foster City Hotel.the Foster City Hotel.
Objective: Use Minitab to calculate the Objective: Use Minitab to calculate the population mean revenue population mean revenue
Data File is Data File is FosterCity.MTWFosterCity.MTW
Open the Minitab file called FosterCity.MTW
Population Mean – Foster City Hotel
Select Stat – Basic Statistics- Display Descriptive Statistics
Population Mean – Foster City Hotel
Population Mean – Foster City Hotel
Select the desired variables
Click on Statistics
Select Desired Statistics – Click OK
Population Mean – Foster City Hotel
Population Means
Population Mean – Foster City Hotel
Mean, Median and Mode US Companies 2005
Mean, Median and Mode US Companies 2005
Issue: Can we produce a diagram which will Issue: Can we produce a diagram which will enable us to review the various 2005 closing enable us to review the various 2005 closing stock prices??stock prices??
Objective: Use Minitab to develop histograms for Objective: Use Minitab to develop histograms for the closing prices for the listed stocks and fundsthe closing prices for the listed stocks and funds
The file is The file is US Companies 2005.MTWUS Companies 2005.MTW
Mean, Median, and Mode – US Companies 2005
Open the file US Companies 2005.MTW
Note: Due to the size of the file, Minitab 15 was used. The procedure for Minitab 14 is practically identical.
Mean, Median, and Mode – US Companies 2005
Select Graph, Histogram, Simple, OK
Mean, Median, and Mode – US Companies 2005
Select Stock Price, OK
Mean, Median, and Mode – US Companies 2005
Measures of Variation US Companies 2005
Measures of Variation US Companies 2005
Issue: Determine the Standard Deviation, Issue: Determine the Standard Deviation, Minimum and Maximum for selected US Minimum and Maximum for selected US Companies Stocks and funds Companies Stocks and funds
Objective: Use Minitab to calculate the standard Objective: Use Minitab to calculate the standard deviation, minimum and maximum for selected deviation, minimum and maximum for selected US Companies Stocks and funds . US Companies Stocks and funds .
Data file is Data file is US companies 2005.MTWUS companies 2005.MTW
Select Mean, Standard Deviation, Minimum, Maximum, Range and OK
Standard Deviation and Range – US Companies 2005
The Session Window presents the statistics that were requested
Empirical Rule Burger N’ Brew
Empirical Rule Burger N’ Brew
Issue: Analyze the Phoenix Burger Sales Issue: Analyze the Phoenix Burger Sales DistributionDistribution
Objective: Use Minitab to compute graphs and Objective: Use Minitab to compute graphs and numerical measures necessary for using the numerical measures necessary for using the empirical rule to analyze sales at Burger Nempirical rule to analyze sales at Burger N’’ Brew Brew
Data file is Data file is BurgerNBrew.MTWBurgerNBrew.MTW
Open the data file called BurgerNBrew.MTW
Data File contains sales for 365 days.
Empirical Rule – Burger N’ Brew
Select Graph- Histogram -Simple – Click OK
Empirical Rule – Burger N’ Brew
Identify variable for analysis – Click OK
Empirical Rule – Burger N’ Brew
Finished Histogram – Bell Shaped Distribution
Empirical Rule – Burger N’ Brew
To compute numerical measures – Click Stat – Basic Statistics – Display Descriptive Statistics –Enter Desired Variable – Click Statistics