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

PrenticePrentice--Hall Publishing CompanyHall Publishing CompanyCopyright, 2008Copyright, 2008

Chapter 3 Minitab Chapter 3 Minitab ExamplesExamples

Population Mean Population Mean Foster City HotelFoster City Hotel

Mean, Median,and ModeMean, Median,and ModeUS Companies 2005US Companies 2005

More Examples

Chapter 3 Minitab Examples (continued) Chapter 3 Minitab Examples (continued)

Measures of VariationUS Companies 2005

Empirical RuleBurger N’ Brew

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

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

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

Empirical Rule – Burger N’ Brew

Empirical Rule – Burger N’ Brew

Select Mean and Standard Deviation – Click OK

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

Empirical Rule – Burger N’ Brew