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Guide to Using Excel 2007 For Basic Statistical Applications To Accompany Business Statistics: A Decision Making Approach, 7th Ed. Chapter 3: Describing.

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Presentation on theme: "Guide to Using Excel 2007 For Basic Statistical Applications To Accompany Business Statistics: A Decision Making Approach, 7th Ed. Chapter 3: Describing."— Presentation transcript:

1 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

2 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

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

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

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

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

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

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

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

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

11 Empirical Rule – Burger N’ Brew And the statistics are: The Empirical rule tells us – 68% falls between 15.12 +/- 3.13 262 (68%) sold between 12 (12.0) and 18 (18.2) 95% falls between 15.12 +/- 2(3.13) 99% falls between 15.12 +/- 3(3.13)


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