Create a histogram plot of company revenue

Create a histogram plot of company revenue

Problem Statement

The data shows the revenue earned ($) by a company on a weekly basis. Create a histogram of this data. 

How to perform analysis

Step 1: Open Sigma Magic
  1. Click on the Sigma Magic button on the Excel toolbar.
  2. Click on the New button to create a new project.
Step 2: Data Preparation
  1. Open the Company Weekly Revenue1.xlsx attachment.
  2. Select the data and convert it to table format by clicking on Ctrl-T.


Step 3: Add the histogram template to your workbook
  1. Click on the Tool Wizard to add the analysis template.
  2. Click on Graph and then Histogram.


Step 4: Specify analysis options
 A new Histogram worksheet will be added to your workbook, and the following dialog box will be opened. Click on the Setup tab on the right. Accept the default values and specify the analysis options




Next, click on the Data tab and specify the data. Drag and drop the Table13 > Revenue to the to the Analysis Variables.



Click on the Charts tab if you want to modify the default chart settings. 

 Labels:

  • Add a title for the chart.
  • Label the X-axis and Y-axis appropriately.

Appearance:

  • Adjust colors, font sizes, or other visual elements as needed.
  • Enable/disable gridlines or background shading.

Finally, click the Verify tab to ensure all the inputs are okay and shown in a green checkmark.



Step5: Generate analysis results
Click on the OK button to generate analysis results. The following figure shows an example output screen.



How to interpret results

ยท       The following conclusion can be drawn from this analysis.

  1. The company makes an average weekly revenue of about 4,962.4.
  2. The revenue values are pretty consistent with a median of 4,990.6, showing that the distribution is symmetric.
  3. The revenue varies between 4,227.4 and 5,644, showing significant variation, but on the whole, the revenues remain within a threshold.

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