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Compilation of statistical functions in Excel 2016, 2013, 2010, and 2007.
Excel functions often interconnect; for instance, logical functions can be combined with statistical functions to meet specific data analysis needs. In a previous article, Mytour introduced users to a range of useful logical functions. In this piece, we delve into statistical functions in Excel for our readers.
Compilation of statistical functions in Excel
1. FUNCTION GROUPS RELATED TO STATISTICS
AVEDEV (number1, number2, ...): Calculates the average of the absolute deviations of data points from their mean. Often used as a measure of variability in a dataset.
AVERAGE (number1, number2, ...): Computes the arithmetic mean.
COUNTIFS (range1, criteria1, range2, criteria2, …): Counts the number of cells that meet multiple criteria.
DEVSQ (number1, number2, ...): Calculates the sum of squares of deviations of data points from their sample mean, then sums those squares.
FREQUENCY (data_array, bins_array): Counts how many times values occur within a range of values and returns a vertical array of numbers. Always use this function in array form.
GEOMEAN (number1, number2, ...): Returns the geometric mean of a set of positive numbers. Often used to calculate average growth rate, where compound interest is specified…
HARMEAN (number1, number2, ...): Returns the harmonic mean (the reciprocal of the arithmetic mean) of numbers.
KURT (number1, number2, ...): Calculates the kurtosis of a dataset, indicating the sharpness or flatness relative to a normal distribution.
LARGE (array, k): Returns the kth largest value in a dataset.
MAX (number1, number2, ...): Returns the maximum value of a set of values. Along with finding the maximum value, we can use the MIN function to find the minimum value. Refer to the article on Max Min functions in Excel for assistance in finding the maximum, minimum values in Excel for more information.
BETADIST (x, alpha, beta, A, B): Returns the value of the cumulative beta probability distribution function.
BETAINV (probability, alpha, beta, A, B): Returns the inverse of the cumulative beta probability distribution function.
CHITEST (actual_range, expected_range): Returns the probability value from the chi-squared distribution and the corresponding degrees of freedom.
CONFIDENCE (alpha, standard_dev, size): Calculates the confidence interval for a theoretical expectation.
CRITBINOM (trials, probability_s, alpha): Returns the smallest value for which the cumulative binomial distribution is greater than or equal to a given criterion. Often used to ensure quality assurance in applications…
Time-series statistical function EXPONDIST (x, lambda, cumulative): Calculates the exponential distribution. Frequently used to simulate the time between events…
FDIST (x, degrees_freedom1, degrees_freedom2): Calculates the F probability distribution. Often used to determine if two datasets have significantly different variances…
Microsoft has launched Microsoft Office 2016. This is an updated suite of office applications with many useful features added. It helps create tables, perform calculations, conduct statistical analyses, balance income and expenses for businesses, organizations, or even large companies.
