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Online Lesson 02 MSExcel Data Analysis (1)

The document provides a guide on using the MSExcel Analysis ToolPak for data analysis, including steps to load the add-in and perform various statistical functions. It covers functions such as AVERAGE, MEDIAN, MODE, and STANDARD DEVIATION, along with their formulas and examples. Additionally, it includes exercises for calculating measures of central tendency, variability, and location using provided data.

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2 views

Online Lesson 02 MSExcel Data Analysis (1)

The document provides a guide on using the MSExcel Analysis ToolPak for data analysis, including steps to load the add-in and perform various statistical functions. It covers functions such as AVERAGE, MEDIAN, MODE, and STANDARD DEVIATION, along with their formulas and examples. Additionally, it includes exercises for calculating measures of central tendency, variability, and location using provided data.

Uploaded by

bianoerlynmaye
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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LESSON 02

A. MSExcel Data Analysis Toolpak


The Analysis ToolPak is an Excel add-in program that provides data analysis tools for
financial, statistical and engineering data analysis.

To load the Analysis ToolPak add-in, execute the following steps.

1. On the File tab, click Options.

2. Under Add-ins, select Analysis ToolPak and click on the Go button.


3. Check Analysis ToolPak and click on OK.

4. On the Data tab, in the Analysis group, you can now click on Data Analysis.

The following dialog box below appears.

5. For example, select Histogram and click OK to create a Histogram in Excel.


B. Watch the youtube videos with the url below:
How to Install Data Analysis Toolpak in MSEXcel

https://youtu.be/EhPsLiSPjhQ

Descriptive Statistics Using MSExcel Toolpak

https://youtu.be/pfYhwy3wN14

C. Alternative Method of Data Analysis


Use the INSERT FUNCTION => STATISTICAL commands

To insert a statistical function in Microsoft Excel, you can:


1. Type an equal sign (=)
2. Type the function name and an open parenthesis
3. Highlight a range of cells or select individual cells, separated by commas
4. Type a closing parenthesis
5. Press Enter

Let’s discuss some intermediate statistical functions in Excel. These


functions used more often by the analyst. It includes functions like
AVERAGE function, MEDIAN function, MODE function, STANDARD
DEVIATION function, VARIANCE function, QUARTILES function,
CORRELATION function.

1. AVERAGE value1, [value2], …)

The AVERAGE function is one of the most used intermediate functions. The
function will return the arithmetic mean or an average of the cell in a given
range.
Formula for AVERAGE function = AVERAGE(number1, [number2], …)

Example of statistical function.

So the average total revenue is Rs.144326.6667

2. AVERAGEIF function

The function will return the arithmetic mean or an average of the cell in a
given range that meets the given criteria.
Formula for AVERAGEIF function = AVERAGEIF(range, criteria,
[average_range])

3. MEDIAN function

The MEDIAN function will return the central value of the data. Its syntax is
similar to the AVERAGE function.
Formula for MEDIAN function = MEDIAN(number1, [number2], …)
Example of statistical function.

Thus, the median quantity sold is 300.

4. MODE function

The MODE function will return the most frequent value of the cell in a
given range.
Formula for MODE function = MODE.SNGL(number1,[number2],…)
Example of statistical function.

Thus, the most frequent or repetitive cost is Rs. 250.

5. STANDARD DEVIATION

This function helps us to determine how much observed value deviated or


varied from the average. This function is one of the useful functions in Excel.
Formula for STANDARD DEVIATION function =
STDEV.P(number1,[number2],…)
Example of statistical function.

Thus, Standard Deviation of total revenue =296917.8172

6. QUARTILES function

Quartile divides the data into 4 parts just like the median which divides the
data into two equal parts. So, the Excel QUARTILES function returns the
quartiles of the dataset. It can return the minimum value, first quartile,
second quartile, third quartile, and max value. Let’s see the syntax :
Formula for QUARTILES function = QUARTILE (array, quart)
Example of statistical function.

So, the first quartile = 14137.5

7. CORRELATION function

CORRELATION function, help to find the relationship between the two


variables, this function mostly used by the analyst to study the data. The
range of the CORRELATION coefficient lies between -1 to +1.
Formula for CORRELATION function = CORREL(array1, array2)
Example of statistical function.

So, the correlation coefficient between discount and revenue of store =


0.802428894. Since it is a positive number, thus we can conclude discount
is positively related to revenue.

8. MAX function

The MAX function will return the largest numeric value within a given set of
data or an array.
Formula for MAX function = MAX (number1, [number2], ...)
The maximum quantity of textbooks is Physics,620 in numbers.

9. MIN function

The MIN function will return the smallest numeric value within a given set
of data or an array.
Formula for MIN function = MIN (number1, [number2], ...)
The minimum number of the book available in the store =150(Sociology)

10. LARGE function

The LARGE function is similar to the MAX function but the only difference is
it returns the nth largest value within a given set of data or an array.
Formula for LARGE function = LARGE (array, k)
Let’s find the most expensive textbook using a large function, where k = 1

Example of statistical function.

The most expensive textbook is Rs. 420.

11. SMALL function

The SMALL function is similar to the MIN function, but the only difference is
it return nth smallest value within a given set of data or an array.
Formula for SMALL function = SMALL (array, k)
Similarly, using the SMALL function we can find the second least expensive
book.
Example of statistical function.

Thus, Rs. 120 is the least cost price.


D. Using the MSExcel Data Analysis Toolpak (or the
MSExcel Statistical Function), do the following
exercises:
Exercise 3. Given the data below:
1. Compute for the Measures of Central Tendency
➢ Mean, Median, Mode

2. Compute for the Measures of Variability/Spread/Dispersion


➢ Range, Standard Deviation, Quartile Deviation

3. Compute for the Measures of Location (Quantiles)


➢ Q1, Q3, D5, P50, P75

55 70 57 73 55 59 64

60 48 58 54 69 51 63

75 64 65 57 71 78 76

49 66 62 76 61 63 63

52 76 71 61 53 56 67

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