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Discussion Question for Business 352: Business Statistics

The Excel function =RANDBETWEEN(a,b) generates a random integer value between a and b. Open Excel. Copy and paste the Excel function into 30 cells (rows) starting at Column A at A1. Create 30 random values between 0 and 7 to simulate the response to the question, How many times have you dined out in the past week?  Note: Once you have your 30 random values in Column A, select all values, copy the values, and use Paste Special – Values to Column B starting at B1. This will keep the spreadsheet from recalculating and changing your results.

Use Excels Data Analysis Tool Add-in to generate the Descriptive Statistics Summary Table for the values in Column B (as demonstrated in Section 3.2 of the text). Also use Excels Chart tools (as discussed in Section 3.4 of the text) to generate a box plot on the 30 responses. Comment on the measures and shape of the distribution. Do the measures and shape represent what you would expect based on randomly determined values? Why or why not?  Include the data set of the 30 random values and your output in your response. Provide references (Refer to Chapter 3 Review: Supplementary Exercises 62 in the Chapter 3 topic Resources in Essentials of Modern Business Statistics With Microsoft Office Excel in MindTap).

In reply to your peers, discuss how your results compared (mean, standard deviation, shape) and whether you agree or disagree with your classmates assessment of the shape. Justify your response. Use reference source(s) to support your response.

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