Guide to Using Excel 2007 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 Excel Examples Population Mean - Population Mean - Population Mean - Population Mean - Foster City Hotel Foster City Hotel Mean, Median,and Mode- Mean, Median,and Mode- Mean, Median,and Mode- Mean, Median,and Mode- US Companies 2005 Percentiles and Quartiles Percentiles and Quartiles Percentiles and Quartiles Percentiles and Quartiles US Companies 2005 More Examples

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

Population Mean Foster City Hotel Issue: Determine the mean nightly revenue for the Foster City Hotel. Objective: Use Excel 2007 to calculate the population mean revenue Data File is FosterCity.xls

Population Mean – Foster City Hotel Open the Excel file called FosterCity.xls

Population Mean – Foster City Hotel Select Formulas Select More Functions Select Statistical Select Average

Population Mean – Foster City Hotel

Optional method: Select Data Select Data Analysis Select Descriptive Statistics from the next dialog box

Population Mean – Foster City Hotel Highlight Column C to fill the Input Range Box Select either New Worksheet or Output Range to decide where the output is placed Select Summary Statistics OK

Population Mean – Foster City Hotel Mean Revenue

Measures of Central Tendencies – US Companies 2005 Issue: What is the distribution of Stock Prices for US Companies Objective: Use Excel 2007 to develop histograms for the Stock Prices The data file is US Companies 2005.xls

Measures of Central Tendencies – US Companies 2005 Open the file US Companies.xls

Measures of Central Tendencies US Companies 2005 Insert a column for the Bins – label it appropriately Select the Data Tab Select Data Analysis Select Histogram Input Range: G1:G6993 Bin Range: H1:H14 Select New Worksheet Ply OK

Measures of Central Tendencies US Companies 2005 Enlarge the Histogram by pulling on the “handles” Right click on bars and Use the Format Data Series Option Setting the Gap Width to zero

Measures of Central Tendencies US Companies 2005

Descriptive Statistics US Companies 2005 Issue: Determine the Descriptive Statistics for US Companies 2005 Stock Prices Objective: Use Excel 2007 to calculate the descriptive statistics for Stock Prices. Data file is US Companies 2005

Descriptive Statistics – US Companies 2005 Open the file US Companies.xls

Descriptive Statistics – US Companies 2005 Select the Data tab Select Data Analysis Select Descriptive Statistics OK

Descriptive Statistics – US Companies 2005 Input Range = g1:g6993 Grouped by Columns Labels in First Row New Worksheet Ply Summary Statistics

Descriptive Statistics – US Companies 2005 Standard Deviation Variance Range

Empirical Rule - Burger N’ Brew Issue: Analyze the Phoenix Burger Sales Distribution Objective: Use Excel 2007 to compute graphs and numerical measures necessary for using the empirical rule to analyze sales at Burger N’ Brew Data file is BurgerNBrew.xls

Empirical Rule – Burger N’ Brew Open the data file called BurgerNBrew.xls. The file contains data for 365 days

Empirical Rule – Burger N’ Brew First develop histogram – Class width = 2. Form bins

Empirical Rule – Burger N’ Brew Select the Data Tab Select Data Analysis Select Histogram OK

Empirical Rule – Burger N’ Brew Input Range- Chilli-Burgers Sold Bin Range – the Bins just created Select New Worksheet Ply Select Chart Output OK

Empirical Rule – Burger N’ Brew This is the default output – now to reformat the Histogram a bit

Empirical Rule – Burger N’ Brew Looks better? Now to compute the statistics

Empirical Rule – Burger N’ Brew Select the Data Tab Select Data Analysis Select Descriptive Statistics OK

Empirical Rule – Burger N’ Brew Input Range is the column to be analyzed Select New Workbook Select Summary Statistics

Empirical Rule – Burger N’ Brew And the statistics are: The Empirical rule tells us – 68% falls between / % falls between /- 2(3.13) 99% falls between /- 3(3.13)