Posted on Leave a comment

One-way analysis of variance – ANOVA – in Excel data analysis add in

Analysis of variance is a statistical method for determine if a variable has any effects on another variable. when we want to find out the relationship between two variables, we need to conduct an experiment in which, we have to change amounts in one variable and then measuring the resulted amount in another one. If we see meaningful changes in the average of resulted amounts, then we can conclude that the first variable has effects on the second one. The method is called, analysis of variance, in this video we show how we can conduct the one-way ANOVA in the Excel by using Data analysis add ins

 

Posted on Leave a comment

Test of hypothesis in Excel data analysis add in

When we have two sample data driven from one or two population and want to see if the mean of those two population (or the mean of one population between two different time) has been changed or not, we use statistical method called test of hypothesis for mean difference, which also known as AB test in some applications. Here we use data analysis add ins in the excel to generate this method in simple way.

Posted on Leave a comment

Covariance and correlation in Excel data analysis add in

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.

Posted on Leave a comment

Exponential Smoothing in Excel data analysis add in

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.