Guide to Using Minitab 14 For Basic Statistical Applications To Accompany Business Statistics: A Decision Making Approach, 8th Ed. Chapter 7: Introduction to Sampling Distributions By Groebner, Shannon, Fry, & Smith Prentice-Hall Publishing Company Copyright, 2011

Chapter 7 Minitab Examples Sampling Distributions Sampling Distributions Sampling Distributions Sampling Distributions Aims Investment Company

Sampling Distributions Aims Investment Company Issue: We wish to develop a sampling distribution for the sample mean for the number of mutual fund accounts owned by each customer. Objective: Use Minitab to select a random sample of size 10 from the data and develop a sampling distribution. The data file is Aims.MTW

Open File Aims.MTW File contains data for 200 customers Sampling Distributions – Aims Investment

Select Calc – Random Data – Sample From Columns Sampling Distributions – Aims Investment

Specify Number of Rows (n = 10) and variable (Number of Mutual Fund Accounts) and Location to put sample – Click OK

Sample of n=10 values – number of mutual fund accounts owned by each customer. Sampling Distributions – Aims Investment Note: Values will differ each time the application is run due to random selection.

Sampling Distributions – Aims Investment Choose Calc – Calculator. In Store Results in variable enter C10 Choose Mean from Functions. Expression: for Mean Sample Column chose an empty column OK

Sampling Distributions – Aims Investment The mean of the sample is produced. Repeat the last three steps multiple times generating a a column of sampling means