Excel statistical analysis

Excel Statistical Analysis

This skill covers the calculation of descriptive statistics and advanced metrics like weighted means.

Core Functions

1. Descriptive Statistics

• Mean (Average): =AVERAGE(range)
• Median: =MEDIAN(range)
• Min/Max: =MIN(range), =MAX(range)
• Percentiles: =PERCENTILE.INC(range, 0.25) for 25th percentile, =PERCENTILE.INC(range, 0.75) for 75th percentile.

2. Weighted Mean

The weighted mean uses the SUMPRODUCT and SUM functions: =SUMPRODUCT(values_range, weights_range) / SUM(weights_range)

3. Data Transformation and Rounding

To represent decimals as percentages (e.g., 0.123 as 12.3): =ROUND(value * 100, 1) or =value * 100 if formatting handles the rest.

Usage Pattern

For Net Exports as % of GDP: If Net Exports are in range NX_Range and GDP is in GDP_Range: =ROUND((NX_Value / GDP_Value) * 100, 1)

For Weighted Mean of Percentages: To weight net export percentages by GDP: =ROUND(SUMPRODUCT(percentages_range, weights_range) / SUM(weights_range), 1)