Statistics are generally quite easy to calculate in Excel.
Here are the main statistical functions that we will be using in Excel:
- AVERAGE
- MEDIAN
- MIN
- MAX
- STDEV
These functions summarize the shape of a data distribution, which make them an important part of descriptive analytics. They are a good place to start when working with any new data.
For each of the statistical functions above, you just need to provide a range of data in a single column as the input to the function.
To study the relationship between two fields of data, we will use the correlation function:
- CORREL(field 1, field 2)
To study whether the means of two fields of data are statistically different, we will use the T-test function:
- TTEST