1. Guide to Using Excel 2003 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. Chapter 3 Excel 2003 Examples  Population Mean - Population Mean - Foster City Hotel  Mean, Median, Mode Standard Deviation- Mean, Median, Mode Standard Deviation- Stock Prices – US Companies More Examples

3. Chapter 3 Excel Examples (continued) ä Empirical Rule - Empirical Rule - Burger N’ Brew

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

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

6. Option 1 – Use the Excel Average function. Click the function wizard – Select Statistical category – Select Average Population Mean – Foster City Hotel

7. Specify data range - Click OK Population Mean – Foster City Hotel

8. Population Mean Population Mean – Foster City Hotel

9. Optional Method: Select Tools, then Data Analysis Population Mean – Foster City Hotel

10. Select Descriptive Statistics Population Mean – Foster City Hotel

11. Define Data Range and select options Population Mean – Foster City Hotel

12. Mean Revenue Population Mean – Foster City Hotel

13. To calculate means for all three variables

14. Population Mean – Foster City Hotel

15. Mean, Median, Mode, and Standard Deviation - Stock Prices Mean, Median, Mode, and Standard Deviation - Stock Prices Issue: Describe the distribution of stock prices for U.S. Companies Objective: Use Excel to develop histograms for the U.S. Companies’ stock prices and to compute the mean, median, mode and standard deviation for stock price. The data file is US Companies 2005.xls.

16. Open the data file called US Companies 2005.xls Data File contains 6,992 stocks. Last row is 6,993 Descriptive Statistics- Stock Prices

17. Constructing histograms was covered in Chapter 2 (See Capital Credit Union) Begin by developing thebins (upper limit of each class.) Descriptive Statistics- Stock Prices

18. Click on Tools > Data Analysis > Histogram. Descriptive Statistics- Stock Prices

19. Fill in data and bin ranges – check labels – location for output – check Chart Output Descriptive Statistics- Stock Prices

20. Review Steps in Chapter 2 to complete histogram Descriptive Statistics- Stock Prices

21. Completed Histogram for Stock Prices. Then compute mean, median and modes for stock price. Descriptive Statistics- Stock Prices

22. Select Tools – then select Data Analysis > Descriptive Statistics Descriptive Statistics- Stock Prices

23. Define Data Range and select options Descriptive Statistics- Stock Prices

24. Mean Median Mode Standard Deviation Descriptive Statistics- Stock Prices

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

26. Open the data file called BurgerNBrew.xls Data File contains sales for 365 days. Last row is 366. Empirical Rule – Burger N’ Brew

27. First, develop histogram – class width = 2. Form Bins (upper limit of each class) Refer to Example 2-6 for detailed steps in developing the histogram Empirical Rule – Burger N’ Brew

28. Click on Tools tab – then Data Analysis – then Histogram Empirical Rule – Burger N’ Brew

29. Define input range, bin range, output location – check Chart Output Empirical Rule – Burger N’ Brew

30. Excel default output – See Capital Credit Union example Chapter 2 for specific steps to enhance the histogram – close gaps, label, etc. Empirical Rule – Burger N’ Brew

31. Finished Histogram – Bell Shaped Distribution Empirical Rule – Burger N’ Brew

32. To compute numerical measures – Click Tools – Data Analysis – Descriptive Statistics Empirical Rule – Burger N’ Brew

33. Define data range, output location – request Summary Statistics Empirical Rule – Burger N’ Brew

34. Mean and Standard Deviation Empirical Rule: 68% within 15.12 + (1)3.13 95% within 15.12 + (2)3.13 99.7% within 15.12 + (3)3.13) Empirical Rule – Burger N’ Brew