Minitab Intro & Exercise 2

Section 2 Variation Fundamentals

Lesson S02-12

Text: Section 9 pages 5

Duration: 27 minutes

A quick introduction to Minitab including essential information to allow the completion of exercise 2

Introduction to Mintab and Exercise 2

a. George collected annual return percentages for the seven largest portfolios managed by his firm. Assume these are variable type data and compute the sample standard deviation. Here is the data:

23%
37%
4%
125%
210%
52%
10%

Solution/Discussion Exercise 2 a

b. A company monitors paint thickness. Xbar and R charts based on n = 3 indicate that the process is stable. The average range is 2.5mm.

What is an estimate of the standard deviation among individual paint thickness measurements?

Solution/Discussion Exercise 2 b