Using Excel to Calculate Measures of Dispersion for Business

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question 1 of 3

If you needed to know how individual sales values compare against the average sales and the standard deviation, which measure will you use?

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1. What limiting factor does the average of a data set present?

2. In recent versions of Excel (2010 and higher), which function should you use to calculate variance for a set of data?

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About This Quiz & Worksheet

This quiz and worksheet offers you a resource to use at your convenience for gauging your understanding of how to use Excel to calculate measures of dispersion in business. Questions address concepts such as the limiting factor presented by an average of a data set and which Excel function will give you the variance of a whole population.

Quiz & Worksheet Goals

Use this quiz to see how well you understand:

  • Which measure you would use to know how individual sales compare against average sales
  • Which function you should use to calculate variance in more recent versions of Excel
  • Which three elements are required for the function STANDARDIZE
  • The limiting factor an average of a data set presents
  • Which Excel function gives you the variance of the population as a whole

Skills Practiced

  • Interpreting information - verify that you can read information regarding the measure used to compare individual and average sales and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information from the related lesson about how Excel is used to calculate measures of dispersion for business
  • Information recall - access the knowledge you've gained regarding the function you should use to calculate variance when using more recent versions of Excel

Additional Learning

Study this subject in greater depth with help from our informative lesson called Using Excel to Calculate Measures of Dispersion for Business. This lesson has been designed to help you achieve the following objectives:

  • Explain what variation of a data set might tell a business owner
  • Identify which function is used in older Excel versions to calculate variance
  • Outline the first step when using the STDEV.S function in Excel
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