The moving average is a statistical method by which we track the average change in data over time. We can use it to calculate the trend of data change. Although it already exists within the trendline and can be applied automatically, in the following text you will learn how to calculate it manually, and you will better understand this method and know when and how to apply it.
The FREQUENCY function is used to calculate how often certain values in a given range are repeated. This is an array function, and we can use it to calculate a distribution by which we can see how many points students have scored on a test and for other similar statistical analyzes. To help you understand how the function works will also illustrate this with a simple chart …
When we create a pivot table report, based on statistical data, it’s sometimes convenient to group them into bins so that we can analyze them more easily. In one simple case, where we research the age of the respondents and the answer to the question whether they are smokers or not, you will see how the groups (bins) are made and how can we later use them to create beautiful charts.
Box & Whisker charts are used for a statistical analysis of the data set. They come along with Excel 2016, and serve to show the statistical distribution of data according to quartiles, emphasizing the mean, maximum and minimum values. In business, they can be used, for example, to analyze the turnover of an item byclass or sales group. Then we analyze the value distribution, based on which we can make conclusions about future values.
Histogram is a diagram that is used for the graphical presentation of the statistical distribution of values. It consists of columns, arranged in descending order, which represent the frequency of their repetition. Excel 2016 provides the ability to create two types of charts: Histogram and Pareto. Pareto differs in that it is a combination of two charts: columns and lines. Columns show values, and the line illustrates their cumulative growth.