ACOT Intro/Copyright
Succeeding in Business with Microsoft Excel 2010: Chapter
1
Course Learning Outcomes
Upon completion of this course, students will be able to:
• Navigate online computer platforms to acquire and distribute
information.
• Apply Excel skills and tools in business problem solving.
• Solve problems with statistical analysis tools.
• Apply logic in decision making.
• Retrieve data for computation, analysis, and reference.
• Evaluate the financial impact of loans and investments.
• Organize data for effective analysis.
• Apply data tables and excel scenarios for what-if analysis.
• Synthesize smart worksheets.
• Enhance decision making with Solver.
Succeeding in Business with Microsoft Excel 2010: Chapter
2
Roadmap
Chapter 2
Solving Problems with Statistical Analysis Tools
Succeeding in Business with Microsoft Excel 2010: Chapter
3
Chapter Objectives
Succeeding in Business with Microsoft Excel 2010: Chapter
4
Understanding Fundamentals of Statistics
Mean
Arithmetic average of a set of numbers
Median
Value in the middle
Mode
Occurs most frequently
Standard
deviation
How closely together the values are
dispersed from the arithmetic mean
Normal
distribution
Mean, median, and mode are the same
value
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
5
Understanding Fundamentals of Statistics
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
6
Understanding Fundamentals of Statistics
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
7
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
8
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
9
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
10
Controlling the Precision of Data Using the
ROUND Function
• Changes precision of data values stored
• =ROUND (number,num_digits)
• Two different types of arguments
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
11
Importance of adhering to function syntax
when working with multiple arguments
Succeeding in Business with Microsoft Excel 2010: Chapter
12
The ROUND Function
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
13
Controlling the Precision of Data
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
14
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
15
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
16
Using Paste Special
to Copy and Paste Data
• Simplest method: Copy button and Paste
button in the Clipboard group on the Home
tab
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
17
Using Paste Special
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
18
“Set precision as displayed” option
Succeeding in Business with Microsoft Excel 2010: Chapter
19
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
20
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
21
Calculating the Mean, Median, Mode, and
Standard Deviation
• Contain only one type of argument – a list of
values
– Constants
– Cell references
– Range of cells along a column
– Range of cells along a row
– Two-dimensional block of cells
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
22
Statistical Functions
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
23
Statistical Functions
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
24
Managing Large Worksheets by Freezing Panes
and Splitting the Window
• Freezing panes
– Keeps titles displayed in top pane; allows bottom
pane to be scrolled
– Both titles and values further down are displayed
simultaneously
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
25
Managing Large Worksheets by Freezing Panes
and Splitting the Window
• Splitting the window
– Allows you to scroll each portion individually,
top/bottom and left/right, with separate scroll
bars
Succeeding in Business with Microsoft Excel 2010: Chapter
26
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
27
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
28
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
29
Comparing Current Values with Historical
Values
• Use a Comparison worksheet
– Places current values and historical values on a
separate worksheet in the workbook, side by side
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
30
Calculating the Difference Between Two
Sets of Data
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
31
Calculating the Percent Difference
Between Two Sets of Data
Succeeding in Business with Microsoft Office Excel 2010
Level 1 home
32
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
33
Determining a Rank for Each Value in a
Data Set
• RANK.EQ function
– Allows a list to be sorted, then counts number of
entries either above or below the value in
question
• RANK.EQ (number,ref,order)
– If “order” argument is 0 or left blank, values are
ranked in descending order
– If “order” argument is a positive number, values
are ranked in ascending order
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
34
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
35
Determining the Highest and Lowest Values in a
Data Set
• LARGE function
– Determines the nth largest value in a range
– LARGE (array,k)
• SMALL function
– Determines the nth smallest value in a range
– SMALL (array,k)
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
36
Determining Values
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
37
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
38
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
39
Determining the Number of Items that Meet
Specified Criteria
• COUNTIF function
– Counts the number of items in a range that meet
specified criteria
– =COUNTIF (range,criteria)
– Range argument must be a contiguous set of cells
– Criteria argument is a “test” that data must meet in
order to be counted in the grouping
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
40
Types of Criteria Specified for the COUNTIF
Function
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
41
Relational Operators
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
42
Sample Result of COUNTIF Function
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
43
Determining a Total Value for Items that Meet
Specified Criteria
• Use SUMIF function to add all values in a
range that meet specified criteria
– =SUMIF (range,criteria,sum_range)
– Sum_range argument identifies corresponding cell
range to sum if specified criteria have been met in the
range established by the “range” argument
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
44
Examples of SUMIF Function
Succeeding in Business with Microsoft Office Excel 2010
Level 2 home
45
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
46
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
47
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
48
Evaluating a Larger Data Set
• Separately list inputs, especially those likely to
change or that you might want to explore with
“what-if” scenarios
• If a large number of data inputs, place them
on a separate worksheet or in a separate area
on the same worksheet
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
49
Specifying a Custom Number Format
• Use to alter format of a cell without altering
the value
• Format codes
– Can include up to four parts, each separated by a
semicolon: one for positive numbers, one for
negative numbers, one for zero values, one for
text
– Consist of combinations of symbols, each with a
separate meaning
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
50
Custom Number Formatting Code
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
51
Custom Number Formatting Codes
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
52
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
53
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
54
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
55
Considering Alternatives:
What-if Analysis and Goal Seek
• What-if analysis
– Determines the outcome of changing one or more
input values and evaluates the recalculated results
• Goal Seek tool
– Specifies the outcome you want and which input
value you want to vary
– Excel automatically calculates the solution
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
56
Using Goal Seek
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
57
Using Goal Seek
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
58
Using Goal Seek
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
59
Using Goal Seek
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
60
Limitations of Goal Seek
• Allows you to vary only a single output
• Input must be a constant value, not a value
derived from a formula
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
61
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
62
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
63
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
64
Combining COUNTIF and AVERAGEIF to Analyze Data
in Specific Categories
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
65
Analyzing Data Through Simulation
• Analytical method that creates artificially
generated data to imitate real data
• Easily calculated and recalculated to show
different possible outcomes (as opposed to
most probable outcome or even extreme
limits)
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
66
Simulation Worksheet
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
67
Functions Used in Simulation
• Use RANDBETWEEN function to randomly
assign a number between two values
– RANDBETWEEN (bottom,top)
• Use RAND function to assign a random value
– Has no arguments, but must include parentheses
• Use ROUND function to calculate probable
costs
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
68
Automation Calculation
Succeeding in Business with Microsoft Office Excel 2010
Level 3 home
69
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
70
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
71
Check on Learning
Succeeding in Business with Microsoft Excel 2010: Chapter
72
Chapter Summary
• Using statistical functions to compare data
values
• Organizing and evaluating different data
groupings
• Extending the analysis with what-if, Goal Seek,
and simulation
Succeeding in Business with Microsoft Office Excel 2010
73
Chapter Objectives
Succeeding in Business with Microsoft Excel 2010: Chapter
74