The U. S. Department of the Interior releases figures on mineral production. The following are the 15 leading states in nonfuel mineral production in the United States in 2008.
State Value ($ billions)
New Mexico 1.81
a) Using the appropriate tool in the data analysis toolpak in Excel, calculate the descriptive statistics. Include the summary statistics table in your report.
b) Briefly define the meaning of each of the metrics in the summary report you get.
c) Comment on each of the figures in the report. What do you learn from these metrics? What are they telling you about this data set? Is it symmetrical, flat, or skewed? Does it have outliers?
Suppose Procter & Gamble sells about 20 million bars of soap per week, but the demand is not constant and production management would like to get a better handle on how sales are distributed over the year. Let the following sales figures given in units of million bars represent the sales of bars per week over 1 year (in no particular order).
a) Construct a histogram chart to represent these data using the appropriate tool from the data analysis toolpack. Make sure to specify your own bin ranges; otherwise, Excel will automatically pick them for you and you will have very strange bin ranges with confusing decimal points. Make a list of numbers in multiples of 5, starting from 10 up to 40; then show Excel where the bin numbers are in the histogram dialog box.
b) Creating a chart is not useful in and of itself unless it is properly interpreted. Write a brief analysis of the graph. What do you see in the graph that might be helpful to the production and sales people?
17.1 22.3 17 25.2
19.6 12.2 18.3 26.3
15.4 19.9 13.6 23.9
17.4 21.5 39.8 30.6
15 20.4 20.7 25.2
18.5 20.3 21.3 26.2
20.6 15.5 22.5 26.9
18.4 23.6 21.4 32.8
20 19.1 23.4 26.3
20.9 20.4 23.1 26.6
19.3 15.4 22.8 24.3
18.2 20.3 21.4 26.2
14.7 24.4 24 23.8
This solution is comprised of a detailed explanation of defining the null Descriptive Statistics and Histogram from these two questions. The solution also depicts the interpretation of the Descriptive Statistics and Histogram. A detailed explanation is provided for all questions and the analysis is done using data analysis toolpack in excel.