LIR 832: MINITAB WORKSHOP Opening Minitab Minitab will be in the Start Menu under Net Apps. Opening the Data Go to the following web site: http://www.msu.edu/course/lir/832/datasets.htm Right-click and Save Target As on the link for Company Sales (Save it to the desktop) In Minitab, select File Open Worksheet and find the file Company Sales. Learning the Variable Names This data set includes 79 observations on a number of characteristics of specific companies: Company: Company Name Assets: Amount of assets (in millions) Sales: Amount of sales (in millions) Market_Value: Market Value of the company (in millions) Profits: Profits (in millions) Cash_Flow: Cash Flow (in millions) Employees: Number of employees (in thousands) Sector: Type of market the company is associated with Basic Structure
Minitab saves all materials related to a session as a Project. This includes all graphs, datasets, results, commands, etc. Within this project is a worksheet, which is the raw data we use here. Variable Names: You can add or edit variable names by clicking on the names above the columns. Note that columns will either be labeled as text columns ( C1-T ) or numeric (C2). Statistical Commands Results appear here. Data here (the worksheet)
Adding Data: You can add data in a number of ways. You can either hand-enter data or you can make patterned data under the Calc Make Patterned Data Simple Set of Numbers (or other options)
Making Dummy (or Indicator) Variables Suppose you want to convert the Sector column into a series of 0/1 variables in order to include them in a regression equation (you can t just put the Sector variable in the equation since it is non-numerical). Go to Calc Make Indicator Variables
Variable to examine Where to put your new variable The variable Sector has 9 values. Thus, we must create nine dummy variables which needs nine empty columns. Thus, we input C9-C17 and we find the following : 9 New Variables One Dummy Variable for Each Sector
You can then label each column based on what it represents.
Descriptive Statistics We can quickly calculate the descriptive statistics for each numeric variable. Follow the following steps: Click on appropriate variables (note that text variables are not appearing).
After clicking on the Statistics tab, the following menu pops up, allowing you to select all the statistics you will need for your analysis: Upon hitting OK on your main selection menu, your results should look like : Descriptive Statistics: Assets, Sales, Market Value, Profits, Cash Flow,... Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3 Assets 79 0 5941 1030 9157 223 1117 2788 5835 Sales 79 0 4178 789 7012 176 749 1754 4781 Market Value 79 0 3270 1272 11304 53.0 483 944 2002 Profits 79 0 209.8 89.7 797.0-771.5 37.8 70.5 195.3 Cash Flow 79 0 401 136 1206-652 72.5 133 335 Employees 79 0 37.60 7.26 64.50 0.600 3.80 15.40 48.50 Variable Maximum Assets 52634 Sales 50056 Market Value 95697 Profits 6555.0 Cash Flow 9874 Employees 400.20
Descriptive Statistics By Category: You can also calculate descriptive statistics by subcategory. For example, if we want the descriptive statistics by Sector, we can do the following: Will give us descriptive statistics for each sector Descriptive Statistics: Assets, Sales, Market Value, Profits, Cash Flow,... Variable Sector N N* Mean SE Mean StDev Minimum Q1 Assets Communication 2 0 12431 7357 10404 5074 * Energy 15 0 4084 1090 4222 1117 1633 Finance 17 0 10330 2946 12147 327 3201 HiTech 8 0 12202 6514 18423 430 614 Manufacturing 10 0 4307 1167 3689 752 1119 Medical 4 0 1874 1465 2931 252 259 Other 7 0 3094 1727 4570 223 799 Retail 10 0 2284 447 1414 623 1044 Transportation 6 0 2480 849 2079 952 987 Sales Communication 2 0 5821 3264 4615 2557 * Energy 15 0 2580 991 3838 355 701 Finance 17 0 1781 923 3805 176 362 HiTech 8 0 12480 6233 17630 672 1305 Manufacturing 10 0 4925 1296 4098 1516 2032 Medical 4 0 1344 942 1885 205 232 Other 7 0 2528 1116 2953 557 1140 Retail 10 0 5904 1424 4502 1601 2666 Transportation 6 0 3043 737 1804 1307 1627
Market Value Communication 2 0 6264 4372 6183 1892 * Energy 15 0 1300 294 1139 181 639 Finance 17 0 829 257 1061 53.0 258 HiTech 8 0 19189 11561 32699 866 1126 Manufacturing 10 0 1710 523 1652 101 470 Medical 4 0 1275 621 1242 275 420 Other 7 0 2214 1027 2717 444 683 Retail 10 0 1577 395 1250 457 733 Transportation 6 0 868 335 820 309 348 Profits Communication 2 0 666 427 603 240 * Energy 15 0 156.5 38.5 149.3-93.8 74.3 Finance 17 0 13.7 48.1 198.5-732.5 22.9 HiTech 8 0 1285 799 2259 55.7 68.3 Manufacturing 10 0 36.3 97.6 308.6-771.5-3.43 Medical 4 0 107.9 58.8 117.5 41.7 42.5 Other 7 0 39.6 57.5 152.2-279.0 25.6 Retail 10 0 119.1 28.9 91.5 30.3 52.2 Transportation 6 0 19.6 81.5 199.6-208.4-182.2 Cash Flow Communication 2 0 1578 999 1413 578 * Energy 15 0 334.9 96.0 371.7 91.7 130.4 Finance 17 0 36.1 45.6 187.9-651.9 27.6 HiTech 8 0 1980 1198 3388 70.8 106 Manufacturing 10 0 203 106 334-524 23.8 Medical 4 0 178 116 231 50.5 53.0 Other 7 0 151.4 38.6 102.2 63.7 83.0 Retail 10 0 215.5 45.2 143.1 93.5 96.1 Transportation 6 0 180 112 275-108 -17.7 Employees Communication 2 0 50.7 28.8 40.7 21.9 * Energy 15 0 7.01 2.03 7.86 0.600 2.80 Finance 17 0 7.92 2.78 11.45 0.700 2.10 HiTech 8 0 121.2 52.5 148.4 4.80 9.68 Manufacturing 10 0 48.4 16.4 51.9 2.60 18.9 Medical 4 0 18.8 14.4 28.8 3.30 3.43 Other 7 0 31.3 18.9 50.0 1.90 8.00 Retail 10 0 73.0 15.5 49.1 16.0 37.3 Transportation 6 0 25.32 5.63 13.78 10.30 13.30 Variable Sector Median Q3 Maximum Assets Communication 12431 * 19788 Energy 1995 5651 14045 Finance 5249 11779 44736 HiTech 4855 21553 52634 Manufacturing 3225 7317 10528 Medical 493 4871 6259 Other 1529 2687 13271 Retail 2072 3626 4418 Transportation 1867 3683 6425 Sales Communication 5821 * 9084 Energy 1354 2662 15636 Finance 542 1200 16197 HiTech 5444 22971 50056 Manufacturing 3826 6341 14992 Medical 509 3291 4152 Other 1487 2235 9115 Retail 5102 7160 17124 Transportation 2681 4327 6131 Market Value Communication 6264 * 10636 Energy 779 1601 4572
Finance 606 974 4653 HiTech 5949 27245 95697 Manufacturing 1094 2997 5377 Medical 868 2538 3090 Other 1040 2306 8190 Retail 1002 2237 4459 Transportation 528 1389 2448 Profits Communication 666 * 1093 Energy 121.6 202.7 485.0 Finance 40.2 92.8 201.7 HiTech 358 1873 6555 Manufacturing 85.7 243.4 312.7 Medical 53.1 228.1 283.7 Other 60.6 145.7 195.3 Retail 65.3 194.5 283.6 Transportation 42.1 138.4 345.8 Cash Flow Communication 1578 * 2577 Energy 173.8 335.2 1462.0 Finance 56.2 118.6 246.7 HiTech 661 2870 9874 Manufacturing 211 409 711 Medical 69.2 413 525 Other 115.4 219.0 352.2 Retail 133.7 368.7 456.5 Transportation 119 363 683 Employees Communication 50.7 * 79.4 Energy 3.80 6.40 27.30 Finance 4.10 8.60 48.50 HiTech 72.5 249.8 400.2 Manufacturing 32.1 59.7 184.8 Medical 4.95 48.0 62.0 Other 15.4 19.4 143.8 Retail 57.5 120.6 164.6 Transportation 24.35 34.20 49.50
Basic Graphing Minitab allows you to quickly and easily create graphs of different variables. If you look under the Graphs command, you ll find:
SCATTERPLOT: There are many options one can use with the scatterplot command, including asking Minitab to include the regression line. SIMPLE SCATTERPLOT OF PROFITS (Y) vs. EMPLOYEES (X):
7000 Scatterplot of Profits vs Employees 6000 5000 4000 Profits 3000 2000 1000 0-1000 0 100 200 Employees 300 400 OR, WITH ADDING THE WITH REGRESSION OPTION, WE D FIND:
7000 Scatterplot of Profits vs Employees 6000 5000 4000 Profits 3000 2000 1000 0-1000 0 100 200 Employees 300 400
HISTOGRAM (OF EMPLOYEES ):
Histogram of Employees Normal 50 Mean 37.60 StDev 64.50 N 79 40 Frequency 30 20 10 0-100 0 100 200 Employees 300 400 BOX-AND-WHISKER PLOT ( BOXPLOT ) OF ASSETS:
60000 Boxplot of Assets 50000 40000 Assets 30000 20000 10000 0
MULTIPLE BOX PLOTS ON SAME GRAPH:
60000 Boxplot of Assets, Sales 50000 40000 Data 30000 20000 10000 0 Assets Sales EDITING TITLES: On your graph, right-click on the title Boxplot of Assets, Sales to change the title text, font, etc.
Now, change the title to Comparison of Company Sales vs. Company Assets, and make the title text 18-pt font, in Times New Roman, in the color red. Comparison of Company Sales vs. Company Assets 60000 50000 40000 Data 30000 20000 10000 0 Assets Sales Note: You can also change the X-axis and Y-axis labels in similar fashions.
LESSON CHECK EXERCISES With the techniques learned in this lesson, complete the following exercises: 1. Change the variable Name to read Company. 2. Calculate descriptive statistics for firms that are in the communication field and those that are not. 3. Create a histogram of sales. 4. Create a scatterplot of sales (y) vs. assets (x). 5. Now create a scatterplot with a regression line of sales (y) vs. assets (x). 6. Retitle this graph, and change all the labels and titles to be in blue font.