V.10:14 (606-610): MINITAB Release 8 for the Mac by John Sweeney

V.10:14 (606-610): MINITAB Release 8 for the Mac by John Sweeney
Item# \V10\C14\P606.pdf
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MINITAB Release 8 for the Mac by John Sweeney

Anyone who's suffered through statistics classes in college or graduate school can remember MINITAB as a frightfully congested pile of opaque subroutines whose sole virtue was the awe that the reams of output inspired in our professors. We were, it seemed, graded by weight and I, for one, never failed to include a boxload of green-striped, full- sized computer paper with all my submissions.

Thankfully, all that is now past and I’ve been handed a shiny new Mac version of MINITAB. Can anything make statistical analysis fun and games? Actually, yes, MINITAB on the Mac can be fun. Not that MINITAB 8.01 doesn’t have some minor blemishes, but it’s now a great tool for exploration as though you had the helping hand of a senior statistician, a guy who’ll do all the nitty-gritty number mashing.

It seems to take a jump in mindset for traders to think statistically. It’s not normal — or maybe it’s just not easy — for people to think in probabilistic terms. We’d like to have certainty, not “most of the time this and some of the time that” or worse, “a range of outcomes from here to there and you don’t know where any one result will be.”

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