Statistics Terms to Know when Using Excel 2007 Data Analysis
Tools Part of the Excel 2007 Data Analysis For Dummies Cheat
Sheet With the data analysis tools available in Excel 2007, you
can create spreadsheets that show the details of any statistic
you can create a formula to find — and you can find any number.
It helps to know what you’re looking for and what to expect, and
the terms in the following list help you understand what kinds
of statistics you can produce. average: Typically, an average is
the arithmetic mean for a set of values. Excel supplies several
average functions. chi-square: Use chi-squares to compare
observed values with expected values, returning the level of
significance, or probability (also called a p-value). A p-value
helps you to assess whether differences between the observed and
expected values represent chance. cross-tabulation: This is an
analysis technique that summarizes data in two or more ways.
Summarizing sales information both by customer and product is a
cross-tabulation.