Datacrackers, Inc., generated preliminary data from a client’s process as found in Prob04-05 in spreadsheet Ch04Data.xlsx on the Student Companion Site.
a. Apply the Excel Descriptive Statistics tool to compute the mean, standard deviation, and other relevant statistics, and interpret the results in a meaningful fashion.
b. Use the Frequency Distribution and Histogram Excel template to construct a frequency distribution and histogram for the data. From what type of distribution might you suspect the data are drawn? Experiment with the number of cells to create a visually appealing histogram and use the Excel Histogram tool to verify the results. Interpret your results from parts a. and b. for managerial purposes

Datacrackers, Inc.
Note: The Histogram macro and the Descriptive Statistics macro have been used to develop this solution.
They can be loaded into the Data menu during standard setup of Excel.
If available, they will show up as the Data Analysis label on the Data menu.
SORTED
DATA
1	1.7			Upper Cell		Cumulat.				Original Data set
2	1.7			Boundaries	Frequencies	Freq.	Cumulative %
3	1.9		Cell 1	1.5	0	0	0.01			38.1	38.5	38.3	37.3	38.4	39.2	38.9	38.7	39.0	38.6
4	1.9		Cell 2	2.0	5	5	0.04			38.1	38.5	38.4	37.6	38.4	39.2	38.9	38.7	39.0	38.6
5	2.0		Cell 3	2.5	9	14	0.12			38.2	38.5	38.4	37.7	38.4	39.3	38.9	38.7	39.1	38.7
6	2.3		Cell 4	3.0	9	23	0.38			38.2	38.5	38.4	37.8	38.4	39.3	38.9	38.7	39.1	38.7
7	2.4		Cell 5	3.5	20	43	0.67			38.3	38.6	38.4	37.9	38.4	39.3	38.9	38.7	39.1	38.7
8	2.4		Cell 6	4.0	31	74	0.82			38.3	38.6	38.4	37.9	38.4	39.4	39.0	38.7	39.1	38.7
9	2.4		Cell 7	4.5	14	88	0.95			38.3	38.6	38.4	37.9	38.4	39.4	39.0	38.7	39.1	38.7
10	2.5		Cell 8	5.0	11	99	0.99			38.3	38.6	38.4	38.1	38.4	39.5	39.0	38.8	39.1	38.7
11	2.5		Cell 9	5.5	1	100	1			38.3	38.6	38.4	38.1	38.5	39.6	39.0	38.8	39.2	38.7
12	2.5									38.3	38.6	38.4	38.1	38.5	39.9	39.0	38.8	39.2	38.7
13	2.5
14	2.5			Descriptive Statistics
15	2.6
16	2.6			Mean	3.5910
17	2.7			Standard Error	0.0809
18	2.8			Median	3.6500
19	2.8			Mode	3.6000
20	2.9			Standard Deviation	0.8088
21	3.0			Sample Variance	0.6542
22	3.0			Kurtosis	-0.2919
23	3.0			Skewness	-0.2404
24	3.1			Range	3.6000
25	3.1			Minimum	1.7000
26	3.1			Maximum	5.3000
27	3.1			Sum	359.1000
28	3.2			Count	100.0000							Fantastic news! We've Found the answer you've been seeking! Answer rating: 100% (3 reviews) a One of the advantages of using Excel spreadsheets is that a great deal of analysis can be done eas...View the full answer Answered By Nimmy John V I did my under graduation and post graduation in Chemistry with 1st class. After that I have taught in a college for one year. I have completed PhD in Chemistry/Nanotechnology from one of the best institute in India. Now I am working as Associate Professor and Head, Dept. of Chemistry, VVIT Kerala. 0.00 0 Reviews 10+ Question Solved Related Book For   An Introduction To Six Sigma And Process Improvement ISBN: 9781133604587 2nd Edition Authors: James R. Evans, William M. Lindsay See More Books Question Posted: Jul 05, 2023 10:18 AM See More Questions Students also viewed these Business questions The data (Prob04-06 in Ch04Data.xlsx on the Student Companion Site) represent the weight of castings (in kilograms) being made in the Harrison Metalwork foundry. Based on this sample of 100 castings,... For Questions 1 through 3, assume you are a commercial loan officer with a large regional bank. 1. What type of financing might you be interested in providing to AFC? 2. How would you go about... Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes... How are writable CDs implemented? Data on three unrelated companies are given in the following table. Requirement Fill in the missing information in the precedingtable. Kyler Company Fielding Industries Johnson, Inc $100,000 40,000 $... Ryan bought a stock three years ago for $6 a share. Today, June 22, the stock is selling for $72 a share. Ryan is afraid that the price will fall and does not want to lose his profits so he places a... Leicht Transfer & Storage provides warehousing services and often purchases pallets from Pallet Central. The companies followed a standard practice for documenting these transactions in which Pallet... Relevant Costing, Cost-Based Pricing, Cost Behavior, and Net Present Value Analysis for NoFat The purpose of this integrated exercise is to demonstrate how a special sales-relevant decision analysis... Write a three page paper on Compare and contrast Online Analytic Processing (OLAP) and Online Transaction Processing (OLTP); also discuss Codds rules for TP databases and OLAP databases. Cite any... Paxton Products, which uses a job order cost system, completed the following transactions during the current month: (A) Materials costing $75,000 were used on various jobs. (B) Time cards of workers... Describe different types of check sheets that are useful in quality improvement. Identify some of the major processes a student encounters in a college or university. What types of noneducational institutions perform similar processes and might be candidates for benchmarking? Five cubic meters of a 1.00-molar aqueous sulfuric acid solution (SG = 1:064) is stored at 25C. Use data in Tables B.1 and B.11 to calculate the standard heat of formation of the solution in kJ/mol... 3 VTV In has the following financial statements for 3021 Sales VTY 2021 fame Statement Les Cost of goods sold Less Depreciation Less Interest paid Taxable income $25,800.00 15,600 00 6.000.00... Summarise the management of project human resources needed to build a community garden in the city cbd. - Specify the numbers and required skill levels of personnel for each work activity - Describe... 1) Determine the shear stress and shear-flow distribution over the cross-section of the beam shown in the figure below. Assume the web is ineffective in resisting bending and the stringer areas to be... Question Using the Proof for Perpetuity formula shown below, solve y = x + 2 x + 3 x + 4x + where x <1 Proof for Perpetuity Formula: 3 n y=x+x+x + x multiply ean by x 2 3 = X + X + Xx 4 . + x... How YOUR decision making process has improved by using a decision making model Potential skill building tools that can bolster your ability to make decisions Retake the Decision Making Questionnaire... Determine the following: a. For n = 4 and = 0.12, what is P(X = 0)? b. For n = 10 and = 0.40, what is P(X = 9)? c. For n = 10 and = 0.50, what is P(X = 8)? d. For n = 6 and = 0.83, what is P(X =... Is that Yelp review real or fake? The article A Framework for Fake Review Detection in Online Consumer Electronics Retailers (Information Processing and Management 2019: 12341244) tested five... Discuss some of the likely problems facing the marketing manager in a small firm who plans to search the Internet for information on competitors marketing plans. Explain the key characteristics of the scientific method and show why these are important to managers concerned with research. How is the situation analysis different from the data collection step? Can both these steps be done at the same time to obtain answers sooner? Is this wise? What is the mass of the spring and its uncertainty (you should have two numbers: one from the graphical analysis and one from directly measuring the mass of the rubber band on the lab balance). How... Solomon Company operates three segments. Income statements for the segments imply that profitability could be improved if Segment A were eliminated. SOLOMON COMPANY Income Statements for Year 2... Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the... Campbell Essential Biology 5th Edition - ISBN: 0321772598 - Free Book Study smarter with the SolutionInn App Get In Touch About Us Contact Us Career Jobs FAQ Campus Ambassador Company Info Security Copyrights Privacy Policy Terms & Condition SolutionInn Fee Scholarship Services Sitemap Fun Definitions Become Tutor Study Help Categories Recent Questions Expert Questions Copyright © 2024 SolutionInn All Rights Reserved. Get the SolutionInn - Study Help App