When we want to know if there is relationship between two or more variables, we need to calculate their covariance or correlation indexes. These to will show us how much two variables are related together. If these indexes have greater values (in correlation, near to 1), then showing us there is straight relation between variables. And if their values be huge negative number (in correlation, near to -1) then it showing the inverse relation between variables. However, if value of these indexes be near to 0, then it suggesting no relation between variables.

Regression is a statistical method for analysis relationship between two or more variables. this method has lots of application in all areas and one of the most popular use is for predicting one variable based on another

 

Exponential smoothing, or Exponential moving average, is a method in time series analysis that helps us to analysis time based data and predicting of new period data. The approach of this method is getting average of all the data in time line with more attention on newest data periods. we can create a very fast report by using data analysis add in of Excel.

By using Histogram tool in Excel data analysis add in, we can simply generate a report which contains the auto calculated bins, frequency, Histogram chart as well as Pareto analysis

By using random number generator of Excel analysis add ins we can generate a matrix of random numbers with custom seed

Instead of using formulas to generate random numbers and then selecting random samples from a data set, we can use data analysis add ins in Excel to generate random samples from a data set