Business situations.
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)
Arizona 8.95
Nevada 6.48
Florida 4.2
Utah 4.17
California 4
Texas 3.8
Minnesota 3.72
Alaska 2.98
Missouri 2.58
Colorado 2.45
Michigan 2.96
Wyoming 2.37
Georgia 2.05
New Mexico 1.81
Pennsylvania 1.68
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 all 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?