All articles with 'distributions' Tag
One of the most dreaded courses during my under-graduation is Probability, Statistics & Queuing Theory. We called it PSQT. I struggled to understand the significance and concept of this course as I could barely concentrate in the class. We had a professor, who is probably a genius, but the moment he started the class, I would magically fall in to one of my after-noon naps. When I woke up, we are either in the middle of an elaborate t-test or going thru intricacies of a Markovian queue.
This was all 11 years ago. Later in life, I have embraced the world of probability & statistics. I still fear queues. May be I will get there one day. 😉
A good understanding of statistics & probability theory is necessary if you want to model complex real-life problems using Excel or similar tools. Naturally, Excel has several functions, features & supported add-ins to help you in this area.
Today, I want to share some of this with you. This article is broken down in to 3 parts.
- Learning Statistics & Probability using Excel
- Downloadable Excel Workbooks to understand
- Full blown models & simulations in Excel
When we have lots of data, we try to summarize it by calculating the average. As they say, averages are mean, they do not give away much.
I want to share with you an interesting example from Amazon.com on how they give more details by combining average with distribution.
As you might know, Amazon shows the rating of each of the products they sell. Customers & users rate the products from 1 to 5 stars. When you visit the product page you will see the average rating. But there is a small down-arrow next to it. When you click on it, Amazon shows you the break-up of that rating so you have a better idea of how the ratings are split.Continue »
Here is a charting challenge to begin your Christmas week. Recently Guardian’s Data Blog released World Education Rankings data and a sample visualization. Now your challenge is to make your chart visualizing World Education Rankings data.
You can see the chart I have constructed above. Read the rest of the post to find out how I made this chart and download the workbook.
Post your submissions using comments.Continue »
Excel has very powerful formulas and add-ins for performing almost any kind of statistical analysis. Today we will learn how you can make a statistical distribution of test scores using excel. There is a downloadable workbook too, for you to take a look at the formulas and play with them.Continue »
This is a Guest Post by Robert on Visualization Techniques for Excel KPI Dashboards. This 6 Part Tutorial on Management Dashboards Teaches YOU: Creating a Scrollable List View in Dashboard Add Ability to Sort on Any KPI to the Dashboard Highlight KPIs Based on Percentile Add Microcharts to KPI Dashboards Compare 2 KPIs in the […]Continue »