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The Illustrative Guide to Microfit 4.0 Information and Learning Resource Services

May Al-Nazer 21/5/2001

Guide Outline

1. Accessing Microfit from the Middlesex Network. 1

2. Starting a new Microfit session

2.1 - Input a new data using a keyboard 1

2.2 - Entering data into Microfit spreadsheet 2

2.3 - Loading an existing set of data 2

2.4 - Adding a new variable to an existing set of data 3

2.5 - Importing data from Ms Excel 3

3. Saving data in Microfit 4

3.1 Saving data in *.csv format 4

3.2 Saving data in *.fit format 4

3.3 Saving data in *.dat format 5

3.4 Saving data in *.tsd format 5

4. Graphs 5

4.1 - Creating graphs in Microfit, 5

4.1.1 How to create a Histograms 5

4.1.2 How to create a Scatter diagram 6

4.1.3 How to create a Simple and Xplots 6

4.2 - Altering the display of graphs with "Graph Control" 7

4.3 - Saving your graphs in Microfit 10

4.4 - Copying your graphs into another application 11

4.5 - Printing your graphs 11

5. Microfit and data analysis 12

5.1 The Cor command and summary statistics 12

5.2 The MAV command 13

5.3 The CSUM command 14

6. Saving your analysis 15

6.1 Saving your analysis in an output file 15

6.2 Saving your results in the current results file 15

6.3 Saving your results in a *.LST or *.EQU file format 16

6.4 Saving your analysis in Microsoft Word or a text editing software 17

6.5 Viewing your results in Microfit 17

Graphics

Fig (1) Accessing Microfit from the Middlesex Networks 1

Fig (2) Starting a new Microfit session 1

Fig (3) Entering data details from the keyboard 1

Fig (4) The variable dialog box 2

Fig (5) Entering names and description for your variable 2

Fig (6) Opening your existing set of data 3

Fig (7) Locating your existing file 3

Fig (8) Adding a new variable to an existing data set 3

Fig (9) Copying your data from Excel 4

Fig (10) Pasting your data in Microfit 4

Fig (11) Saving your data in Microfit 5

Fig (12) Saving your data in various formats 5

Fig (13) How to create a histogram 6

Fig (14) How to create a Scatter plot 6

Fig (15) How to create a simple plot 7

Fig (16) How to create an Xplot 7

Fig (17) The 2D tab 8

Fig (18) The 3D tab 8

Fig (19) The style tab 8

Fig (20) The Market tab 9

Fig (21) The Fonts tab 9

Fig (22) The Title tab 10

Fig (23) The Background tab 10

Fig (24) The Save As dialog box 11

Fig (25) The Print dialog box 12

Fig (26) The Command editor window & Editor box 12

Fig (27) A single Cor Command 13

Fig (28) The Cor command for a multi-variable 13

Fig (29) A simple moving average computation 14

Fig (30) The CSUM command 15

Fig (31) Saving your results in a new file 15

Fig (32) Saving results with *.out file 15

Fig (33) Saving results into the same / current file 16

Fig (34) Highlighting your results 16

Fig (35) Pasting your results in the Command editor box 16

Fig (36) Saving your results in Microfit 17

Fig (37) Saving your data as LST & Equ format 18

Fig (38) Saving your results in Ms word 18

The Illustrative guide to Microfit

Microfit is interactive user-friendly econometric software that is mostly used by economist to analyse micro and macro variables. The following documentation introduces the simple applications of Microfit v4 for windows 3.1, 9x & NT users.

1. Accessing Microfit from the Middlesex Network.

To access Microfit from the Middlesex networks click on the Start button, Middlesex Local Software, Mathematical Applications, and then select Microfit v4

Fig (1) Accessing Microfit from the Middlesex Networks

2. Starting a Microfit session

2.1 To input new data from a keyboard

Before you input your data into a new Microfit sheet you need to inform Microfit about your data sample; to do so simply follow the steps outlined below.

1. Click on File on the menu bar, and select New. A "New data input from the keyboard" dialog box appears.

Fig (2) Starting a new Microfit session Fig (3) Entering data details from the keyboard

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2. In the Data frequency section select one of the radio buttons that best describes your data, i.e. annual, Monthly..etc.

3. Input a date for your sample data in the Start and the End combo box

4. Enter the total number of variables in the number of Variable combo box.

5. Click on the Okay button.

2.2 Entering data into Microfit spreadsheet

Once you've entered all the required information in the " New data input from the keyboard "dialog box, you will be presented with a variable box in which to enter information about your variables. The number of variables shown in the variable table depends upon the variable numbers that you've entered in the variable combo box in step 4.

In the variables section, enter the name for the variables you want to analyse simply by typing over the X1, X2etc. In the description section add a little note that will serve as a reminder of what the variables are or what they represent, once you've completed your information click on the go button. You will now be presented with the "Data Editor" where you can enter your observations, simply by typing over the "None" values in the variable cells. To view or change your variable names and description click on variable button on the "Command Editor". Variable description can have an option of up to 79 character in length for any given variable.

Fig (4) The variable dialog box Fig (5) Entering names and description for your variable

2.3 Loading an existing set of data onto Microfit

If your file is saved in either of the formats mentioned earlier, you could open your file by selecting File from the menu bar and select open from the drop down menu list. Locate your file from the appropriate drive and double click to open it. In the Editor window, click on the Data button in the Command editor and the data will be displayed in the "Data Editor window".

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Fig (6) Opening your existing set of data Fig(7) Locating your existing file

2.4 Adding a new variable to an existing set of data

To add new variable(s) to an already existing set of date, click on the Process button on the command editor window. In the Process window type add xnew and click on the Go button. The new variable will now be seen in the Variables window. You can give your new variable(s) an appropriate name by typing over the "XNEW" in the Variables field, also enter a description (optional) of your variable in the description field.

Fig (8) Adding a new variable to an existing data set

2.5 Importing your data from Ms Excel

You can import your data from an Excel spreadsheet into Microfit by using the copy and paste commands. However, before you import your data into Microfit you must complete steps 1-5 in section I.

To copy your data from Excel you need to highlight the data range in the spreadsheet excluding the title of the variables. To highlight your data range, click inside the first cell of your data then hold down the shift key and use the arrow buttons on the keyboard to highlight the data range.

In Excel click on the Edit command and select copy from the sub menu. Once the data range is selected and copied from Excel you can exit the programme and bring up Microfit. In Microfit click on the Edit command in the data editor and select Paste from the drop down menu.

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Fig (9) Copying your data from Excel Fig(10) Pasting your data in Microfit

3. Saving your data in Microfit

Files created in Microfit can be saved a number of formats. Whatever format you choose to save your file the procedure is exactly the same.

Microfit supports the following file formats,

Microfit : (FIT)

ASCII : (DAT)

Comma Delimited (CSV)

AREMOS (TSD)

To save your file in Microfit with any of the file formats mentioned above simply click on File command in the menu bar and select "Save As" from the drop down menu. In the file name box enter a name for your file. In the Save File As Type select either Mfit data file (*.FIT), ASCII data files (*.DAT), CSV files (*.CSV) or AREMOS (*.TSD). In the Drivers box select the destination where the file is to be saved, i.e., floppy (a:), Personal hard drive (c:\) or personal network drive (h:\). If you do not specify the type of file you want to save your file as, Microfit by default will save your file as a Microfit file format with a "*.FIT" file extension.

3.1 Saving your data in a *.CSV format

If you opt to save your files in a "*.CSV" format you will be presented with a "Select subset of data to be saved" dialog box, in which you will be asked to select a first and a last date for your sample data. Once you've decided on the range of the data to be saved click on the Okay button. Any missing data or values not entered into a variable cell will be registered as missing values and hence be replaced with a *NONE*. Files saved as a "*.CSV" file formats are useful when exporting data to an Excel worksheet or other software.

3.2 Saving your data in a *.FIT format

If you saved your file in a "*.FIT" format, and made changes to it, saving the changes using the save command will present you with a warning dialog box that will prompt you to over write the work done earlier on this file. Data saved with an "*.FIT" file extension cannot be saved with an alternative format.

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3.3 Saving your data in a *.DAT format

When saving your data as a "*.DAT" file format you will be presented by an Input a String dialog box, which prompts you to enter a minimum and maximum for your observations If you do not enter a specified range for your observation then Microfit will save all the data in the range.

3.4 Saving your data in a *.TSD format

If you save your file in a Time Series data ("*.TSD") format you will be prompted to enter a range for the observations you want to save. If you do not specify a range Microfit will save the whole range of information stored in your variable cells.

Fig (11) Saving your data in Microfit Fig (12) Saving your data in various formats

4. Graphs

4.1 Creating graphs in Microfit

A number of high-resolution graphs can be created in Microfit such as; Histograms, scatter diagrams, simple and xplots.

4.1.1 How to create a histogram

Histograms are drawn for quantitative univariate variables only. To create a histogram, select to go into Command editor box and type hist followed by the name of the variable and click on the Go button. For example if you want to create a histogram of the sales variable you would type "hist sales".

Histograms formulae is His x

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Fig (13) how to create a histogram

4.1.2 How to create a scatter diagram

Scatter diagrams are only used to display information about two (bivariate) quantitative sets of data. To create a scatter diagram, click on the Process button in the Command editor window. In the Command Editor box type scatter followed by the names of the two variables separated by a space and click on the Go button. For example if the two variables were sales and price, you would type scatter sales price.

Scatter formulae is scatter x y

Fig (14) how to create a Scatter plot

4.1.3 How to create simple and xplots

Simple plots are graphs, which are used to plot a number of variables (maximum of three) against time. To create a simple plot, you need to be in the Command Editor box then type plot followed by the names of the variables (separated by a space each time) you want to plot against time and press the Go button . For example if you have the variables sales, price and discount etc, you would type the following command Plot sales price discount.

Simple plot formulae is plot x z y

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Fig (15) How to create a simple plot

Xplots

Xplots are graphs that are used to plot a number of variables (maximum of three) against another variable. To create a XPlot, go to the Command Editor box and type XPlot followed by the variable names separated by a space each time. For example if you if you want to plot sales, discount and price against location you would type the following command, XPlot sales discount price location. Make sure to reserve the variable you want to plot against to last. Hence in this example, all variables are being plotted against location.

Xplot formulae is XPlot x1 x2 x3 y

Fig (16) How to create an Xplot

4.2 Altering the display of graphs with "Graph Control"

Microfit has an added facility to amend graphs previously created and hence enhance your graphical display.

Thus, to make changes to your already existing (default) graph click on the "show graph toolbar " icon from the graph display window. The "Graph Control" window consists of 15 tabs, which perform various functions, however this section will introduce a sufficient selection of functions.

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The 2D and/or 3D Gallery tabs.

The 2D and 3D galleries contain a host of displays to choose from, for example you could change a time series graph into a Pie or a bar chart. Hence to change the display of your graph, simply click on one of the selections followed by single click on the Apply Now followed by the Ok button

Fig (17) The 2D tap Fig (18) The 3D tab

The Style tab

The style tab consists of Markers and Log Data radio buttons. Markers change the data display on the graph. When all the markers are unchecked this will result in a straight-line graph. Log data radio button changes the display the X & Y display of the data.

Fig (19) The Style tab

The Markers tab

Markers allows you to change the thickness, pattern and colour of the line drawn, be it in a time series plot or a pie chart. To make any adjustment(s) to the graph click on the Reset All button and then make the necessary adjustments, from the various selections. Make sure to click on the Apply Now followed by the Ok button.

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Fig (20) The Marker tab

The Fonts Tab

The font tab allows one to change the Font Typeface and size of a graph title or legend.

To change the Font type, select the appropriate font from the "Name" dropdown list. To change the

format of your characters (bold, italic, underline) select one from the radio buttons.

To change the size of font, click on the reset button and with the mouse drag the cursor to either side.

Make sure you click on the right button in the "Apply To" section in order to specify where the

changes are taking place.

Fig (21) The Fonts tab

The Title Tab

The "title tab" allows one to input a title for the graph as well as the bottom, right and left legends, and the way the titles are displayed (horizontal, up or down). Whatever changes you opt to make always ensure to click on the Apply To followed by the Ok button.

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Fig (22) The Title tab

The Background Tab

The background tab allows one to apply a different colour to the title and legends. Hence to change the colour of the font, select a colour from the Text Colour dropdown list. To change the background colour of the graph title click on the Background drop list and select the appropriate colour, you could also change the style of the title box by clicking on either of the radio buttons (raised, border, drop shadow, raised, and lowered). To change the background the graph background select a colour from the"Background Colour" drop down list. Once you made changes to your graph click on the Apply To followed by the Ok button.

Fig (23) the Background tab

4.3 Saving your graphs in Microfit

Graphs created by Microfit can be saved in either of the following formats:

BMP Bitmap image file

WMF Windows metafile

MFW Microfit graph file

However, graphs saved with the "*.MFW" file extension can only be viewed in Microfit. Graphs saved in any of the other formats cannot be viewed in Microfit, but can be viewed using Microsoft

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Word or any software that has image viewing facility. Graphs saved with the *.MFW file extension can be thus viewed in Microfit by clicking on File command from the menu bar, and selecting view from the drop down menu. Once you've selected the view option you will be presented with an Open dialog box. In the Open dialog box select the relevant drive from the Drive drop down list and the directory name that contains your file (from the Directories list box) and select the file that contains your graph(s), and click on the okay button.

Saving your graphs with a "*.BMP or *.WMF" click on the image to file icon in the graph window. In the displayed Save As dialog box choose the file format you require from the Save Files as Type drop down list. Enter a name for your graph file in the File Name box. Select the appropriate drive and directory from the Driver drop down list and Directories listing where the file is to be stored and click on the okay button.

To save your files with a Microfit file format "*.MFW", click on the third icon of the graph window. In the Save As dialog box that appears choose the "*.MFW" format from the Save Files as Type drop down list. Enter a name for your graph file in the File Name box. Select the appropriate drive and directory from the Driver drop down list and Directories listing where the file is to be stored and click on the okay button.

Fig (24) the Save As dialog box

4.4 Copying your graphs into another application

Graphs created in Microfit can be copied directly onto another software application such as Ms Word. If you wish to choose this method instead of saving your graphs as image files, then click on the 4th icon in the graph window. In Microsoft word or what ever application you choose, click the Edit command from the menu bar and select Paste from the drop down list and your graph will then be displayed there. Note however, if you choose to copy your graphs onto another application without saving your graphs in any of the file formats that Microfit supports (see Saving your Microfit file section), then your graphs can only be accessed in Word or the application you chose to copy your graphs onto.

4.5 Printing your graphs

To print your graph(s), simply, click on the printer icon in the graph window. In the printer dialog box that appears click on the okay button. Note however that, printouts will be sent to a default

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printer that is set up on the PC or network workstation, so make sure that the printer selected is the right one to use.

Fig (25) The Print dialog box

5. Microfit and data analysis

Microfit contains a vast range of analysis tools, however for simplicity sake; this section will be geared to using simple commands such as; correlation, time trend, moving averages and summary statistics, and hence obtain a measurable meaningful analysis of any given data. All commands must be written in the Command Editor window and are initiated by a single click on the Go button, alternatively the "go command" can be entered manually by typing after the formulae.

Editor Box

Fig (26) The Command Editor window & Editor box

5.1 The COR command

This command differs depending in the way it is applied, and hence the type of analysis to be had. The COR command can be used to investigate how a variable performs over a period, or it can be used to investigate two or more variables against one another. In the first instant, the "COR " command will help provide you with a summary statistics (mean, standard deviation, coefficient of variation, skewness, kurtosis, min and max values) and its auto correlation coefficient to the nearest third decimal point.

Thus to investigate one variable performance against itself you would type the COR command followed by the name of the variable separated by an interval. So if you were to investigate the performance of the sales variable over a period of time you would type COR Sales followed by the range of observations investigated.

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Make sure to type in the "COR" command in the Command Editor box. Alternatively you could select the COR command from the Commands drop down list, followed by a single click on the Go button.

The formulae for a single variable application is: COR x (number of observations)

Fig (27) A single Cor command

The COR command can also be used to investigate relationships between variables. This method will help obtain the correlation coefficient of these variables as well as the summary statistics discussed above. So to investigate the relationship between variables, make sure to type in the COR command followed by the names of the variables separated by space. So if you had the variables sales, price, and location you would type COR sales price location.

Make sure that to type the command in Command Editor Box followed by a single click on the GO button.

The formulae for a multi- variable application is: COR X Y Z

Fig (28) The Cor command for a multi-variable

5.2 The MAV command

Microfit allows you to forecast your time series data using the moving average command "MAV" which is typed in the Command Editor Box window. Note that once the computation is done a new a column with the moving average results is created.

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The formulae for a simple Moving Average application is Y=MAV(X,n)

X= the variable name investigated

N= the nth period used to arrive at a moving average, e.g. a year can have 4 quarters.

Fig (29) A simple moving average computation

For example

For example, If you want to investigate the performance of the sales for the one quarter you would type Y=MAV (Sales,4). A new column will now be added to your existing data sheet. You can rename the title of this column by clicking on the Variables button and retyping a new name for this column in the Variables field. It is also a good practice to include a brief description for this variable in the Description field (see fig 5).

To calculate a quarterly moving average of a long string of data (3-year data based on 4 quarters for any given variable), you would type the following

Y4=[x4+x3+x2+x1]/4 where x1 = q1, x2 = q2 ..etc

To calculate the next average you would type :

Y5= [x5+x4+x3+2]/4 where x5 = q1 of the second year, x4 =q4 of the fist year etc

5.3 The CSUM Command

This "CSUM" command enables one to calculate a cumulative sum for a given variable X. This command is useful if you have a large data and need to break it into say quarters or use the quarters to use for a moving average calculation and so on. This function is particularly useful when plotting a time series graph of say frequency.

When calculating the cumulative sum in order to plot a time trend, the time period must be increased by one.

The formulae for a time trend is T=CSUM(1)

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Fig (30) The CSUM Command

6. Saving your analysis

Results can be saved in Microfit as an output file with the extensions (*.OUT),(*.LST) or (*.EQU). Alternatively you can save your analysis in Microsoft Word or any text editing software simply by following the steps below.

6.1 Saving your analysis in an output file

To save your analysis in an output file click on the Save to a new results file icon located on the Results window.

Fig (31) Saving your results in a new file Fig (32) Saving results with *.out file format

6.2 Saving your results in the current results file

To save your results in on to the same file click on the Save to current results file icon on the Results window. In the file exists dialog box that follows click on the Append to existing file radio button.

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Fig (33) Saving results into the same /current file

6.3 Saving your results in a *.LST or *.EQU file format

selected text to clipboard copyIf you choose to save your results with the above formats, highlight your results then click on the

icon located on the Results window and change to the Command Editor window.

Fig (34) Highlighting your results Fig (35) Pasting your results in the Command Editor Box

In the Command editor Box click on the Edit command from the command editor window and select the Paste command from the drop down list and your results will be displayed. Once your results are displayed click on the Save contents of editor box icon. In the "Save As" dialog box that appears select either file extension from the Save File as _Type drop down list.

Fig (36) Saving your results in Microfit Fig (37) Saving your data as LST & EQU format

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6.4 Saving your analysis In Ms Word or a text editing software

To save your results in an external text application highlight your results and click on the copy selected text to clipboard icon located on the Results window. Now, access your text editing software or Ms Word click on the Edit command and select Paste from the drop down list.

Fig (38) Saving your results in MsWord

6.5 Viewing your results in Microfit

In order to view your previously saved results, click on the Open a previously saved file icon from the Command Editor. Form the Open dialog box, select the appropriate file name, location, directory and driver where your file is stored, and click on the Ok button. Note however, Microfit will only display your results if they are saved with. *Out, *LST, or. * EQU file formats only.

Fig () Opening your results file in Microfit

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1. Accessing Microfit from the Middlesex Network.2. Starting a Microfit session2.1 To input new data from a keyboard2.2 Entering data into Microfit spreadsheet2.3 Loading an existing set of data onto Microfit2.4 Adding a new variable to an existing set of data2.5 Importing your data from Ms Excel

3. Saving your data in Microfit3.1 Saving your data in a *.CSV format3.2 Saving your data in a *.FIT format3.3 Saving your data in a *.DAT format3.4 Saving your data in a *.TSD format

4. Graphs4.1 Creating graphs in Microfit4.1.1 How to create a histogram4.1.2 How to create a scatter diagram4.1.3 How to create simple and xplots

4.2 Altering the display of graphs with "Graph Control"4.3 Saving your graphs in Microfit4.4 Copying your graphs into another application4.5 Printing your graphs

5. Microfit and data analysis5.1 The COR command5.2 The MAV command5.3 The CSUM Command

6. Saving your analysis6.1 Saving your analysis in an output file6.2 Saving your results in the current results file6.3 Saving your results in a *.LST or *.EQU file format6.4 Saving your analysis In Ms Word or a text editing software6.5 Viewing your results in Microfit

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