Guide to Using Minitab 14 For Basic Statistical Applications To Accompany Business Statistics: A Decision Making Approach, 7th Ed. Chapter 3: Describing Data Using Numerical Measures By Groebner, Shannon, Fry, & Smith Prentice-Hall Publishing Company Copyright, 2008

Chapter 3 Minitab Examples Population Mean Foster City Hotel Mean, Median,and Mode US Companies 2005 More Examples

Chapter 3 Minitab Examples (continued) Measures of Variation US Companies 2005 Empirical Rule Burger N’ Brew

Population Mean Foster City Hotel Issue: Determine the mean nightly revenue for the Foster City Hotel. Objective: Use Minitab to calculate the population mean revenue Data File is FosterCity.MTW

Population Mean – Foster City Hotel Open the Minitab file called FosterCity.MTW

Population Mean – Foster City Hotel Select Stat – Basic Statistics- Display Descriptive Statistics

Select the desired variables Population Mean – Foster City Hotel Select the desired variables Click on Statistics

Population Mean – Foster City Hotel Select Desired Statistics – Click OK

Population Mean – Foster City Hotel Population Means

Mean, Median and Mode US Companies 2005 Issue: Can we produce a diagram which will enable us to review the various 2005 closing stock prices?? Objective: Use Minitab to develop histograms for the closing prices for the listed stocks and funds The file is US 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 Issue: Determine the Standard Deviation, Minimum and Maximum for selected US Companies Stocks and funds Objective: Use Minitab to calculate the standard deviation, minimum and maximum for selected US Companies Stocks and funds . Data file is US companies 2005.MTW

Standard Deviation and Range – US Companies 2005 Open file US Companies 2005.MTW

Standard Deviation and Range - US Companies 2005 Select Stat, Basic Statistics, Display Descriptive Statistics

Standard Deviation and Range – US Companies 2005 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 Issue: Analyze the Phoenix Burger Sales Distribution Objective: Use Minitab to compute graphs and numerical measures necessary for using the empirical rule to analyze sales at Burger N’ Brew Data file is BurgerNBrew.MTW

Empirical Rule – Burger N’ Brew 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

Empirical Rule – Burger N’ Brew Select Mean and Standard Deviation – Click OK

Empirical Rule – Burger N’ Brew Mean and Standard Deviation Empirical Rule: 68% within 15.12 + (1)3.14 95% within 15.12 + (2)3.14 99.7% within 15.12 + (3)3.1