Doing Statistical Analysis with MS Excel
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MS Excel can be used for doing statistical analysis. That much is common knowledge, yet few people seem to know how to do it. If the very thought of using MS Excel in this way seems challenging to you, keep reading. This article will walk you through performing two kinds of important statistical analysis tasks with this software.
Doing statistical analysis using MS Excel seems to be difficult for a beginner and even an intermediate user of MS Excel. The primary reason is that it is not taught in most MS Excel classes or even in the in-house seminars. Also, doing statistical analysis requires you to learn the associated Excel functions in order to perform the specific statistical analysis task.
In this article I will illustrate how to perform the most important statistical analysis using MS Excel. Below are the important statistical analysis tasks which scientists, engineers and even those in the financial sectors should be performing:
- Making a histogram
- Performing a correlation plot and regression analysis
Some of the MS Office packages do not include the magical Data Analysis tool pack. This makes it even harder for an analyst to do some basic or advanced statistical analysis. Data Analysis is an add-on to MS Excel, but some installations might not include it. If yours doesn't, obviously, attempting to use the Data Analysis tool pack will not work.
Fortunately, the examples illustrated in this article do not depend on the Data Analysis tool pack. You will not need it to get them to work; any analysis can be done without the tool pack. This tutorial has been tested to work in MS Excel 2002.
Let us start with making a histogram.
Next: How to make a histogram using MS Excel >>
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